LPL Financial LLC Increases Stock Position in Acushnet Holdings Corp. (NYSE:GOLF)

LPL Financial LLC grew its stake in Acushnet Holdings Corp. (NYSE:GOLF - Free Report) by 23.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 25,411 shares of the company's stock after buying an additional 4,810 shares during the quarter. LPL Financial LLC's holdings in Acushnet were worth $1,806,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Orion Portfolio Solutions LLC raised its position in shares of Acushnet by 3.2% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 10,628 shares of the company's stock worth $678,000 after acquiring an additional 330 shares in the last quarter. Barclays PLC boosted its holdings in shares of Acushnet by 361.5% in the 3rd quarter. Barclays PLC now owns 48,563 shares of the company's stock valued at $3,096,000 after buying an additional 38,041 shares in the last quarter. Virtu Financial LLC grew its position in shares of Acushnet by 152.6% in the 3rd quarter. Virtu Financial LLC now owns 8,163 shares of the company's stock valued at $520,000 after buying an additional 4,931 shares during the last quarter. SkyView Investment Advisors LLC raised its stake in Acushnet by 1.8% during the 3rd quarter. SkyView Investment Advisors LLC now owns 20,772 shares of the company's stock worth $1,324,000 after acquiring an additional 376 shares in the last quarter. Finally, Tidal Investments LLC purchased a new stake in Acushnet in the third quarter valued at $508,000. 53.12% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Acushnet

In related news, insider Steven Francis Pelisek sold 20,000 shares of the stock in a transaction on 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 sale, the insider now owns 96,006 shares of the company's stock, valued at $6,802,985.16. This trade represents a 17.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 54.60% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GOLF. JPMorgan Chase & Co. cut Acushnet from a "neutral" rating to an "underweight" rating and decreased their target price for the company from $69.00 to $64.00 in a research report on Thursday, January 23rd. Compass Point upgraded shares of Acushnet from a "neutral" rating to a "buy" rating and upped their price target for the company from $77.00 to $80.00 in a research report on Tuesday, March 4th. KeyCorp dropped their price objective on shares of Acushnet from $77.00 to $70.00 and set an "overweight" rating on the stock in a research note on Thursday. Truist Financial dropped their price target on Acushnet from $68.00 to $64.00 and set a "hold" rating on the stock in a research report on Monday, April 14th. Finally, StockNews.com cut shares of Acushnet from a "buy" rating to a "hold" rating in a research note on Saturday, March 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $70.60.

Acushnet Price Performance

Shares of GOLF traded up $0.34 on Friday, reaching $59.63. The stock had a trading volume of 388,479 shares, compared to its average volume of 369,480. The firm has a 50-day moving average of $64.86 and a 200 day moving average of $67.31. The firm has a market capitalization of $3.57 billion, a PE ratio of 20.28 and a beta of 0.84. Acushnet Holdings Corp. has a twelve month low of $55.31 and a twelve month high of $76.65. The company has a quick ratio of 1.14, a current ratio of 2.10 and a debt-to-equity ratio of 0.79.

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

Acushnet Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were given a $0.235 dividend. The ex-dividend date of this dividend was Friday, March 7th. This is a positive change from Acushnet's previous quarterly dividend of $0.22. This represents a $0.94 annualized dividend and a dividend yield of 1.58%. Acushnet's dividend payout ratio is currently 28.23%.

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.