Moody Aldrich Partners LLC Has $4.68 Million Position in Acushnet Holdings Corp. (NYSE:GOLF)

Moody Aldrich Partners LLC lowered its stake in shares of Acushnet Holdings Corp. (NYSE:GOLF) by 2.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 65,862 shares of the company’s stock after selling 1,948 shares during the period. Moody Aldrich Partners LLC’s holdings in Acushnet were worth $4,681,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Blue Trust Inc. raised its position in Acushnet by 100.6% in the fourth quarter. Blue Trust Inc. now owns 351 shares of the company’s stock worth $25,000 after purchasing an additional 176 shares in the last quarter. Brown Lisle Cummings Inc. acquired a new position in Acushnet in the third quarter worth about $40,000. Prospera Private Wealth LLC acquired a new position in Acushnet in the third quarter worth about $41,000. nVerses Capital LLC acquired a new position in Acushnet in the third quarter worth about $57,000. Finally, Quarry LP raised its position in Acushnet by 745.6% in the third quarter. Quarry LP now owns 1,057 shares of the company’s stock worth $67,000 after purchasing an additional 932 shares in the last quarter. Institutional investors and hedge funds own 53.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on GOLF shares. Truist Financial increased their price target on shares of Acushnet from $65.00 to $68.00 and gave the stock a “hold” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. cut shares of Acushnet from a “neutral” rating to an “underweight” rating and decreased their price objective for the stock from $69.00 to $64.00 in a research note on Thursday, January 23rd.

Insiders Place Their Bets

In related news, insider Christopher Aaron Lindner sold 5,000 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $73.91, for a total transaction of $369,550.00. Following the sale, the insider now directly owns 88,710 shares in the company, valued at $6,556,556.10. This trade represents a 5.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 54.60% of the company’s stock.

Acushnet Price Performance

Shares of Acushnet stock opened at $67.28 on Wednesday. Acushnet Holdings Corp. has a 1-year low of $58.54 and a 1-year high of $76.65. 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 firm’s 50-day moving average price is $72.18 and its two-hundred day moving average price is $68.02. The stock has a market capitalization of $4.09 billion, a price-to-earnings ratio of 22.88 and a beta of 0.88.

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

Acushnet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were issued a $0.215 dividend. The ex-dividend date was Friday, December 6th. This represents a $0.86 annualized dividend and a yield of 1.28%. Acushnet’s dividend payout ratio (DPR) is presently 29.25%.

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.