Semanteon Capital Management LP Raises Holdings in Acushnet Holdings Corp. (NYSE:GOLF)

Semanteon Capital Management LP raised its holdings in shares of Acushnet Holdings Corp. (NYSE:GOLF) by 3.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,659 shares of the company’s stock after purchasing an additional 281 shares during the period. Semanteon Capital Management LP’s holdings in Acushnet were worth $687,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in GOLF. Raymond James Financial Inc. purchased a new stake in Acushnet during the 4th quarter valued at $62,713,000. Jane Street Group LLC boosted its stake in Acushnet by 702.1% during the 3rd quarter. Jane Street Group LLC now owns 508,705 shares of the company’s stock valued at $32,430,000 after purchasing an additional 445,281 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of Acushnet by 258.9% during the 3rd quarter. Point72 Asset Management L.P. now owns 266,200 shares of the company’s stock valued at $16,970,000 after buying an additional 192,034 shares during the period. Eagle Asset Management Inc. lifted its holdings in shares of Acushnet by 133.0% during the 3rd quarter. Eagle Asset Management Inc. now owns 298,958 shares of the company’s stock valued at $19,059,000 after buying an additional 170,668 shares during the period. Finally, 12th Street Asset Management Company LLC lifted its holdings in shares of Acushnet by 170.1% during the 4th quarter. 12th Street Asset Management Company LLC now owns 120,883 shares of the company’s stock valued at $8,592,000 after buying an additional 76,126 shares during the period. 53.12% of the stock is currently owned by hedge funds and other institutional investors.

Acushnet Price Performance

Shares of Acushnet stock opened at $65.53 on Friday. Acushnet Holdings Corp. has a one year low of $58.54 and a one year high of $76.65. The stock’s fifty day moving average is $67.52 and its 200 day moving average is $67.58. The stock has a market cap of $3.93 billion, a P/E ratio of 22.29 and a beta of 0.79. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.14 and a current ratio of 2.10.

Acushnet (NYSE:GOLF) last announced its earnings results on Thursday, February 27th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.31. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. The company had revenue of $445.17 billion for the quarter, compared to analysts’ expectations of $454.83 million. Sell-side analysts anticipate that Acushnet Holdings Corp. will post 3.06 earnings per share for the current year.

Acushnet Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend was Friday, March 7th. This is a boost from Acushnet’s previous quarterly dividend of $0.22. This represents a $0.94 dividend on an annualized basis and a yield of 1.43%. Acushnet’s dividend payout ratio (DPR) is currently 28.23%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on GOLF shares. Compass Point raised Acushnet from a “neutral” rating to a “buy” rating and increased their price target for the company from $77.00 to $80.00 in a report on Tuesday, March 4th. StockNews.com cut Acushnet from a “buy” rating to a “hold” rating in a report on Saturday, March 8th. JPMorgan Chase & Co. cut Acushnet from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $69.00 to $64.00 in a report on Thursday, January 23rd. Finally, KeyCorp lowered their price target on Acushnet from $80.00 to $77.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Acushnet has a consensus rating of “Hold” and an average price target of $72.80.

Insider Buying and Selling at Acushnet

In other Acushnet news, insider Steven Francis Pelisek sold 20,000 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was 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 trade represents a 17.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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.