Acushnet Holdings Corp. (NYSE:GOLF) Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP cut its holdings in Acushnet Holdings Corp. (NYSE:GOLF - Free Report) by 72.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,957 shares of the company's stock after selling 26,724 shares during the period. Quantbot Technologies LP's holdings in Acushnet were worth $708,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in GOLF. Raymond James Financial Inc. acquired a new position in shares of Acushnet in the 4th quarter worth approximately $62,713,000. Jane Street Group LLC boosted its position in shares of Acushnet by 702.1% during the third quarter. Jane Street Group LLC now owns 508,705 shares of the company's stock worth $32,430,000 after buying an additional 445,281 shares during the period. Point72 Asset Management L.P. grew its stake in shares of Acushnet by 258.9% in the third quarter. Point72 Asset Management L.P. now owns 266,200 shares of the company's stock valued at $16,970,000 after buying an additional 192,034 shares in the last quarter. 12th Street Asset Management Company LLC grew its stake in shares of Acushnet by 170.1% in the fourth quarter. 12th Street Asset Management Company LLC now owns 120,883 shares of the company's stock valued at $8,592,000 after buying an additional 76,126 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Acushnet by 6.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,013,857 shares of the company's stock valued at $64,632,000 after buying an additional 63,294 shares during the period. 53.12% of the stock is currently owned by hedge funds and other institutional investors.

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Acushnet Stock Down 1.5 %

NYSE GOLF traded down $1.06 on Friday, hitting $67.37. 354,594 shares of the stock were exchanged, compared to its average volume of 353,189. The company has a market cap of $4.04 billion, a PE ratio of 22.92 and a beta of 0.79. The company has a 50-day moving average price of $66.99 and a 200-day moving average price of $67.70. Acushnet Holdings Corp. has a fifty-two week low of $58.54 and a fifty-two week 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 released its quarterly earnings data on Thursday, February 27th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.31. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. The company had revenue of $445.17 billion during the quarter, compared to the consensus estimate of $454.83 million. Sell-side analysts anticipate that Acushnet Holdings Corp. will post 3.06 EPS for the current fiscal year.

Acushnet Increases Dividend

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

Analyst Ratings Changes

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

Insider Activity

In other news, insider Steven Francis Pelisek sold 20,000 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $70.86, for a total value of $1,417,200.00. Following the completion of the sale, the insider now directly owns 96,006 shares of the company's stock, valued at approximately $6,802,985.16. This represents a 17.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate 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.