Farther Finance Advisors LLC Decreases Position in Acushnet Holdings Corp. (NYSE:GOLF)

Farther Finance Advisors LLC lowered its stake in shares of Acushnet Holdings Corp. (NYSE:GOLF - Free Report) by 83.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,017 shares of the company's stock after selling 5,061 shares during the period. Farther Finance Advisors LLC's holdings in Acushnet were worth $72,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Blue Trust Inc. increased its position in Acushnet by 100.6% in the fourth quarter. Blue Trust Inc. now owns 351 shares of the company's stock worth $25,000 after buying an additional 176 shares during the last quarter. Prospera Private Wealth LLC purchased a new stake in Acushnet in the 3rd quarter worth about $41,000. Quarry LP increased its holdings in Acushnet by 745.6% in the 3rd quarter. Quarry LP now owns 1,057 shares of the company's stock worth $67,000 after acquiring an additional 932 shares during the last quarter. Berry Wealth Group LP bought a new stake in Acushnet in the 4th quarter valued at about $202,000. Finally, Heritage Family Offices LLP purchased a new stake in Acushnet during the fourth quarter valued at about $205,000. Institutional investors own 53.12% of the company's stock.

Analysts Set New Price Targets

GOLF has been the topic of several research reports. JPMorgan Chase & Co. lowered shares of Acushnet from a "neutral" rating to an "underweight" rating and lowered their price target for the company from $69.00 to $64.00 in a research report on Thursday, January 23rd. Compass Point raised shares of Acushnet from a "neutral" rating to a "buy" rating and boosted their target price for the company from $77.00 to $80.00 in a report on Tuesday, March 4th. StockNews.com lowered Acushnet from a "buy" rating to a "hold" rating in a report on Saturday, March 8th. Finally, KeyCorp decreased their price objective on Acushnet from $80.00 to $77.00 and set an "overweight" rating on the stock in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $72.80.

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Acushnet Price Performance

Shares of Acushnet stock traded up $0.31 during trading on Wednesday, hitting $67.35. The stock had a trading volume of 486,944 shares, compared to its average volume of 343,698. The company has a current ratio of 2.10, a quick ratio of 1.14 and a debt-to-equity ratio of 0.79. Acushnet Holdings Corp. has a 12 month low of $58.54 and a 12 month high of $76.65. The firm has a market cap of $4.04 billion, a price-to-earnings ratio of 22.91 and a beta of 0.79. The business's 50-day moving average is $67.34 and its 200 day moving average is $67.61.

Acushnet (NYSE:GOLF - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported ($0.02) earnings per share for the quarter, topping analysts' consensus estimates of ($0.33) by $0.31. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. The business had revenue of $445.17 billion for the quarter, compared to analyst estimates of $454.83 million. As a group, sell-side analysts anticipate that Acushnet Holdings Corp. will post 3.06 earnings per share for the current year.

Acushnet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were paid a $0.235 dividend. This represents a $0.94 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date was Friday, March 7th. This is a boost from Acushnet's previous quarterly dividend of $0.22. Acushnet's payout ratio is currently 28.23%.

Insider Transactions at Acushnet

In other news, insider Steven Francis Pelisek sold 20,000 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $70.86, for a total transaction of $1,417,200.00. Following the transaction, the insider now directly owns 96,006 shares in the company, valued at approximately $6,802,985.16. This represents a 17.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 54.60% of the company's stock.

About Acushnet

Acushnet Holdings Corp. designs, develops, manufactures, and distributes golf products in the United States, Europe, the Middle East, Africa, Japan, Korea, and internationally. The company operates through four segments: Titleist Golf Balls, Titleist Golf Clubs, Titleist Golf Gear, and FootJoy Golf Wear.