Trust Point Inc. Sells 5,899 Shares of Acushnet Holdings Corp. (NYSE:GOLF)

Trust Point Inc. lessened its position in Acushnet Holdings Corp. (NYSE:GOLF - Free Report) by 57.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,401 shares of the company's stock after selling 5,899 shares during the period. Trust Point Inc.'s holdings in Acushnet were worth $313,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in GOLF. AQR Capital Management LLC lifted its position in Acushnet by 6.6% in the 2nd quarter. AQR Capital Management LLC now owns 19,506 shares of the company's stock valued at $1,238,000 after acquiring an additional 1,214 shares in the last quarter. Algert Global LLC purchased a new position in shares of Acushnet in the second quarter worth $203,000. Creative Planning boosted its position in shares of Acushnet by 5.1% during the second quarter. Creative Planning now owns 7,194 shares of the company's stock valued at $457,000 after buying an additional 349 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Acushnet during the second quarter valued at $1,667,000. Finally, SG Americas Securities LLC raised its position in Acushnet by 40.7% in the 3rd quarter. SG Americas Securities LLC now owns 11,840 shares of the company's stock worth $755,000 after buying an additional 3,426 shares during the last quarter. Hedge funds and other institutional investors own 53.12% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Truist Financial raised their price target on shares of Acushnet from $65.00 to $68.00 and gave the company a "hold" rating in a report on Friday, November 8th. JPMorgan Chase & Co. cut shares of Acushnet from a "neutral" rating to an "underweight" rating and dropped their target price for the stock from $69.00 to $64.00 in a report on Thursday, January 23rd.

Acushnet Stock Up 1.0 %

GOLF opened at $65.84 on Friday. Acushnet Holdings Corp. has a 1-year low of $58.54 and a 1-year high of $76.65. The firm's 50 day simple moving average is $71.35 and its two-hundred day simple moving average is $67.96. The company has a current ratio of 2.10, a quick ratio of 1.14 and a debt-to-equity ratio of 0.79. The company has a market capitalization of $4.00 billion, a PE ratio of 22.39 and a beta of 0.86.

Acushnet (NYSE:GOLF - Get Free Report) last released its earnings results on Thursday, November 7th. The company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.10. The company had revenue of $620.50 million for the quarter, compared to the consensus estimate of $620.40 million. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. Acushnet's quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.85 earnings per share. As a group, equities analysts forecast that Acushnet Holdings Corp. will post 3.06 EPS for the current year.

Insider Transactions at Acushnet

In related news, insider Christopher Aaron Lindner sold 5,000 shares of the company's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $73.91, for a total value of $369,550.00. Following the completion of the transaction, the insider now owns 88,710 shares of the company's stock, valued at approximately $6,556,556.10. This represents a 5.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 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.

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