Tributary Capital Management LLC Sells 317 Shares of Acushnet Holdings Corp. (NYSE:GOLF)

Tributary Capital Management LLC reduced its stake in shares of Acushnet Holdings Corp. (NYSE:GOLF) by 0.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 264,753 shares of the company’s stock after selling 317 shares during the quarter. Tributary Capital Management LLC’s holdings in Acushnet were worth $18,819,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of GOLF. SkyView Investment Advisors LLC increased its holdings in Acushnet by 0.9% in the second quarter. SkyView Investment Advisors LLC now owns 20,396 shares of the company’s stock valued at $1,295,000 after purchasing an additional 187 shares during the last quarter. Azzad Asset Management Inc. ADV raised its position in shares of Acushnet by 2.0% during the third quarter. Azzad Asset Management Inc. ADV now owns 10,221 shares of the company’s stock worth $652,000 after purchasing an additional 204 shares during the period. Orion Portfolio Solutions LLC lifted its holdings in shares of Acushnet by 3.2% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 10,628 shares of the company’s stock valued at $678,000 after purchasing an additional 330 shares in the last quarter. Creative Planning increased its stake in Acushnet by 5.1% during the 2nd quarter. Creative Planning now owns 7,194 shares of the company’s stock worth $457,000 after purchasing an additional 349 shares in the last quarter. Finally, OneDigital Investment Advisors LLC raised its holdings in Acushnet by 2.3% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 18,433 shares of the company’s stock worth $1,175,000 after buying an additional 413 shares during the period. Institutional investors and hedge funds own 53.12% of the company’s stock.

Insider Buying and Selling

In other news, insider Christopher Aaron Lindner sold 5,000 shares of Acushnet stock in a transaction on Monday, November 25th. The stock was sold at an average price of $73.91, for a total transaction of $369,550.00. Following the completion of the sale, the insider now owns 88,710 shares of the company’s stock, valued at approximately $6,556,556.10. This trade represents a 5.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 54.60% of the stock is currently owned by insiders.

Acushnet Stock Down 1.2 %

Acushnet stock opened at $67.18 on Friday. Acushnet Holdings Corp. has a fifty-two week low of $58.54 and a fifty-two week high of $76.65. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.10 and a quick ratio of 1.14. The firm has a market capitalization of $4.08 billion, a PE ratio of 22.85 and a beta of 0.88. The company’s 50-day moving average is $72.22 and its 200-day moving average is $67.85.

Acushnet (NYSE:GOLF) last issued its earnings results on Thursday, November 7th. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.79 by $0.10. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. The company had revenue of $620.50 million during the quarter, compared to the consensus estimate of $620.40 million. During the same period in the previous year, the company posted $0.85 EPS. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. Sell-side analysts anticipate that Acushnet Holdings Corp. will post 3.06 earnings per share for the current year.

Acushnet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were paid a dividend of $0.215 per share. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend was Friday, December 6th. Acushnet’s dividend payout ratio is presently 29.25%.

Wall Street Analyst Weigh In

GOLF has been the subject of several research reports. Truist Financial increased their price objective 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. downgraded Acushnet from a “neutral” rating to an “underweight” rating and dropped their price target for the company from $69.00 to $64.00 in a research note on Thursday.

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.