Armistice Capital LLC Sells 13,608 Shares of Acushnet Holdings Corp. (NYSE:GOLF)

Armistice Capital LLC lessened its holdings in Acushnet Holdings Corp. (NYSE:GOLF) by 74.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,754 shares of the company’s stock after selling 13,608 shares during the quarter. Armistice Capital LLC’s holdings in Acushnet were worth $300,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Federated Hermes Inc. bought a new stake in Acushnet in the 4th quarter valued at $32,000. Gladius Capital Management LP bought a new stake in shares of Acushnet in the 4th quarter worth about $37,000. Principal Securities Inc. bought a new stake in shares of Acushnet in the 4th quarter worth about $37,000. Phillips Wealth Planners LLC bought a new stake in shares of Acushnet in the 4th quarter worth about $204,000. Finally, Envestnet Portfolio Solutions Inc. acquired a new position in Acushnet during the 4th quarter valued at about $208,000. Institutional investors own 53.12% of the company’s stock.

Acushnet Stock Up 0.2 %

Shares of GOLF traded up $0.16 during mid-day trading on Wednesday, hitting $65.28. 47,283 shares of the company’s stock were exchanged, compared to its average volume of 334,081. The company has a market cap of $4.12 billion, a PE ratio of 22.58 and a beta of 0.88. Acushnet Holdings Corp. has a 52 week low of $46.67 and a 52 week high of $70.10. The company has a 50-day simple moving average of $63.55 and a 200 day simple moving average of $63.25. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.69 and a quick ratio of 1.46.

Acushnet (NYSE:GOLF) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.19. The company had revenue of $707.55 million during the quarter, compared to analysts’ expectations of $692.41 million. Acushnet had a net margin of 8.03% and a return on equity of 20.65%. On average, research analysts forecast that Acushnet Holdings Corp. will post 3.13 earnings per share for the current fiscal year.

Acushnet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, June 7th will be issued a dividend of $0.215 per share. This represents a $0.86 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend is Friday, June 7th. Acushnet’s dividend payout ratio is 29.86%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Truist Financial upped their price target on Acushnet from $62.00 to $63.00 and gave the company a “hold” rating in a research note on Wednesday, May 8th. JPMorgan Chase & Co. upped their price target on Acushnet from $62.00 to $63.00 and gave the company a “neutral” rating in a research note on Tuesday, May 28th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Acushnet presently has a consensus rating of “Hold” and an average target price of $66.38.

Insider Transactions at Acushnet

In other Acushnet news, insider John Francis Duke, Jr. sold 17,000 shares of Acushnet stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $64.32, for a total value of $1,093,440.00. Following the transaction, the insider now owns 130,472 shares in the company, valued at $8,391,959.04. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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.