Principal Financial Group Inc. Increases Stock Position in Acushnet Holdings Corp. (NYSE:GOLF)

Principal Financial Group Inc. increased its stake in shares of Acushnet Holdings Corp. (NYSE:GOLF - Free Report) by 1.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,024,023 shares of the company's stock after acquiring an additional 10,166 shares during the quarter. Principal Financial Group Inc. owned about 1.68% of Acushnet worth $72,783,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Victory Capital Management Inc. raised its holdings in shares of Acushnet by 8.2% during the 3rd quarter. Victory Capital Management Inc. now owns 1,072,692 shares of the company's stock worth $68,384,000 after acquiring an additional 81,065 shares in the last quarter. Jane Street Group LLC increased its position in Acushnet by 702.1% in the third quarter. Jane Street Group LLC now owns 508,705 shares of the company's stock worth $32,430,000 after purchasing an additional 445,281 shares during the last quarter. Raymond James & Associates raised its stake in Acushnet by 0.9% during the third quarter. Raymond James & Associates now owns 466,099 shares of the company's stock valued at $29,714,000 after purchasing an additional 4,300 shares in the last quarter. FMR LLC lifted its position in Acushnet by 2.5% during the third quarter. FMR LLC now owns 441,069 shares of the company's stock valued at $28,118,000 after purchasing an additional 10,762 shares during the last quarter. Finally, Eagle Asset Management Inc. grew its stake in shares of Acushnet by 133.0% in the 3rd quarter. Eagle Asset Management Inc. now owns 298,958 shares of the company's stock worth $19,059,000 after buying an additional 170,668 shares in the last quarter. 53.12% of the stock is owned by hedge funds and other institutional investors.

Acushnet Trading Up 0.8 %

Shares of GOLF traded up $0.52 during midday trading on Thursday, hitting $66.43. The stock had a trading volume of 473,692 shares, compared to its average volume of 542,760. Acushnet Holdings Corp. has a 1 year low of $58.54 and a 1 year high of $76.65. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.10 and a quick ratio of 1.14. The stock's 50 day moving average is $69.78 and its 200 day moving average is $67.67. The firm has a market cap of $4.04 billion, a PE ratio of 22.59 and a beta of 0.86.

Wall Street Analysts Forecast Growth

GOLF has been the topic of several recent research reports. JPMorgan Chase & Co. cut shares of 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. Truist Financial upped their price objective on Acushnet from $65.00 to $68.00 and gave the company a "hold" rating in a research report on Friday, November 8th.

Insider Buying and Selling at Acushnet

In other Acushnet news, insider Christopher Aaron Lindner sold 5,000 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $73.91, for a total value of $369,550.00. Following the sale, the insider now owns 88,710 shares in the company, valued at $6,556,556.10. This trade represents a 5.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 54.60% of the company's stock.

Acushnet Company Profile

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.