XTX Topco Ltd Takes $419,000 Position in Acushnet Holdings Corp. (NYSE:GOLF)

XTX Topco Ltd acquired a new stake in Acushnet Holdings Corp. (NYSE:GOLF - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 5,897 shares of the company's stock, valued at approximately $419,000.

Other hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. increased its stake in Acushnet by 5.3% in the fourth quarter. JPMorgan Chase & Co. now owns 1,078,416 shares of the company's stock valued at $76,654,000 after purchasing an additional 54,314 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Acushnet by 1.0% in the fourth quarter. Principal Financial Group Inc. now owns 1,024,023 shares of the company's stock worth $72,783,000 after acquiring an additional 10,166 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Acushnet in the fourth quarter valued at approximately $62,713,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Acushnet by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 361,744 shares of the company's stock valued at $25,713,000 after acquiring an additional 2,793 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Acushnet by 7.1% during the fourth quarter. Bank of New York Mellon Corp now owns 271,995 shares of the company's stock worth $19,333,000 after purchasing an additional 18,036 shares during the period. Institutional investors own 53.12% of the company's stock.

Insiders Place Their Bets

In other Acushnet 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 transaction of $1,417,200.00. Following the sale, the insider now directly owns 96,006 shares of the company's stock, valued at $6,802,985.16. This represents a 17.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 54.60% of the company's stock.

Acushnet Stock Performance

NYSE:GOLF traded down $0.74 during trading on Friday, reaching $62.25. The company's stock had a trading volume of 371,177 shares, compared to its average volume of 369,881. The firm has a market cap of $3.74 billion, a price-to-earnings ratio of 21.17 and a beta of 0.84. Acushnet Holdings Corp. has a 12 month low of $55.31 and a 12 month high of $76.65. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.14 and a current ratio of 2.10. The firm has a 50 day moving average of $64.40 and a 200-day moving average of $67.28.

Acushnet (NYSE:GOLF - Get Free Report) last posted its quarterly 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. The company had revenue of $445.17 billion during the quarter, compared to analyst estimates of $454.83 million. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. Research analysts expect that Acushnet Holdings Corp. will post 3.06 EPS for the current fiscal year.

Acushnet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were issued a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a yield of 1.51%. This is a positive change from Acushnet's previous quarterly dividend of $0.22. The ex-dividend date was Friday, March 7th. Acushnet's dividend payout ratio is 28.23%.

Analyst Ratings Changes

GOLF has been the subject of a number of recent research reports. JPMorgan Chase & Co. lowered shares of Acushnet from a "neutral" rating to an "underweight" rating and decreased their price target for the company from $69.00 to $64.00 in a research note on Thursday, January 23rd. Truist Financial decreased their price objective on Acushnet from $68.00 to $64.00 and set a "hold" rating for the company in a report on Monday, April 14th. Compass Point raised Acushnet from a "neutral" rating to a "buy" rating and lifted their target price for the company from $77.00 to $80.00 in a research report on Tuesday, March 4th. StockNews.com lowered Acushnet from a "buy" rating to a "hold" rating in a research report on Saturday, March 8th. Finally, KeyCorp cut their price objective on shares of Acushnet from $77.00 to $70.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $70.60.

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.