Point72 Asia Singapore Pte. Ltd. Cuts Stock Holdings in Acushnet Holdings Corp. (NYSE:GOLF)

Point72 Asia Singapore Pte. Ltd. lowered its position in Acushnet Holdings Corp. (NYSE:GOLF) by 35.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,181 shares of the company’s stock after selling 1,224 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Acushnet were worth $138,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. New Covenant Trust Company N.A. purchased a new stake in Acushnet in the 1st quarter valued at about $27,000. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Acushnet by 101.9% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,159 shares of the company’s stock valued at $76,000 after acquiring an additional 585 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Acushnet during the second quarter valued at approximately $83,000. Crestwood Advisors Group LLC bought a new stake in Acushnet during the second quarter worth $200,000. Finally, Algert Global LLC purchased a new position in Acushnet in the second quarter worth $203,000. 53.12% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

GOLF has been the subject of several research analyst reports. Truist Financial raised their target price on Acushnet from $63.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, August 7th. Compass Point decreased their price objective on shares of Acushnet from $78.00 to $76.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Finally, Jefferies Financial Group cut shares of Acushnet from a “buy” rating to a “hold” rating and dropped their target price for the company from $86.00 to $75.00 in a research note on Tuesday, September 17th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $67.43.

Insider Transactions at Acushnet

In other news, Director Holdings Corp. Fila sold 587,520 shares of Acushnet stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $63.83, for a total transaction of $37,501,401.60. Following the completion of the sale, the director now directly owns 32,522,966 shares of the company’s stock, valued at approximately $2,075,940,919.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 54.60% of the company’s stock.

Acushnet Price Performance

NYSE GOLF opened at $61.91 on Friday. The company has a market cap of $3.90 billion, a PE ratio of 21.50 and a beta of 0.85. The company has a quick ratio of 1.27, a current ratio of 2.28 and a debt-to-equity ratio of 0.81. The firm’s 50-day simple moving average is $66.23 and its two-hundred day simple moving average is $64.77. Acushnet Holdings Corp. has a 52 week low of $49.42 and a 52 week high of $74.77.

Acushnet (NYSE:GOLF) last released its quarterly earnings results on Tuesday, August 6th. The company reported $1.11 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.09). Acushnet had a net margin of 7.91% and a return on equity of 21.17%. The firm had revenue of $683.90 million for the quarter, compared to analysts’ expectations of $709.83 million. The firm’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter last year, the firm earned $1.09 earnings per share. Research analysts predict that Acushnet Holdings Corp. will post 3.02 earnings per share for the current year.

Acushnet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were given a dividend of $0.215 per share. The ex-dividend date was Friday, September 6th. This represents a $0.86 annualized dividend and a yield of 1.39%. Acushnet’s payout ratio is presently 29.86%.

Acushnet 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.