Millennium Management LLC Decreases Position in Acushnet Holdings Corp. (NYSE:GOLF)

Millennium Management LLC lessened its holdings in shares of Acushnet Holdings Corp. (NYSE:GOLF) by 55.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 103,873 shares of the company’s stock after selling 128,232 shares during the period. Millennium Management LLC owned approximately 0.16% of Acushnet worth $6,594,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Wellington Management Group LLP raised its stake in Acushnet by 1.3% in the 4th quarter. Wellington Management Group LLP now owns 1,964,870 shares of the company’s stock worth $124,121,000 after acquiring an additional 25,869 shares during the last quarter. Vanguard Group Inc. raised its stake in Acushnet by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 2,995,230 shares of the company’s stock worth $189,209,000 after acquiring an additional 20,547 shares during the last quarter. Azzad Asset Management Inc. ADV raised its stake in Acushnet by 1.9% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 9,305 shares of the company’s stock worth $614,000 after acquiring an additional 173 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in Acushnet by 101.9% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,159 shares of the company’s stock worth $76,000 after acquiring an additional 585 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its stake in Acushnet by 3.2% in the 1st quarter. BNP Paribas Financial Markets now owns 40,636 shares of the company’s stock worth $2,680,000 after acquiring an additional 1,243 shares during the last quarter. Hedge funds and other institutional investors own 53.12% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on GOLF shares. Compass Point reduced their target price on Acushnet from $78.00 to $76.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Jefferies Financial Group downgraded Acushnet from a “buy” rating to a “hold” rating and cut their price target for the stock from $86.00 to $75.00 in a research report on Tuesday, September 17th. Finally, Truist Financial increased their price target on Acushnet from $63.00 to $65.00 and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $67.43.

Insider Activity

In related news, Director Holdings Corp. Fila sold 1,110,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $64.19, for a total value of $71,250,900.00. Following the transaction, the director now directly owns 31,412,966 shares of the company’s stock, valued at approximately $2,016,398,287.54. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 54.60% of the company’s stock.

Acushnet Price Performance

Shares of GOLF opened at $63.20 on Friday. Acushnet Holdings Corp. has a fifty-two week low of $49.42 and a fifty-two week high of $74.77. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.27 and a current ratio of 2.28. The company has a market capitalization of $3.99 billion, a P/E ratio of 21.94 and a beta of 0.84. The business’s 50-day moving average is $65.35 and its two-hundred day moving average is $64.78.

Acushnet (NYSE:GOLF) last posted its 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 business had revenue of $683.90 million for the quarter, compared to analyst estimates of $709.83 million. During the same quarter last year, the business earned $1.09 earnings per share. Acushnet’s revenue was down .8% on a year-over-year basis. Research analysts predict that Acushnet Holdings Corp. will post 3.02 earnings per share for the current year.

Acushnet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were given a dividend of $0.215 per share. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend was Friday, September 6th. Acushnet’s dividend payout ratio (DPR) is presently 29.86%.

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.