Acushnet Holdings Corp. (NYSE:GOLF) Insider Sells $369,550.00 in Stock

Acushnet Holdings Corp. (NYSE:GOLF) insider Christopher Aaron Lindner sold 5,000 shares of Acushnet stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $73.91, for a total value of $369,550.00. Following the sale, the insider now directly owns 88,710 shares in the company, valued at $6,556,556.10. The trade was a 5.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Acushnet Price Performance

Shares of GOLF stock traded down $0.27 during trading hours on Tuesday, hitting $73.94. 235,642 shares of the company’s stock were exchanged, compared to its average volume of 311,015. The stock’s 50-day moving average is $64.79 and its 200-day moving average is $65.32. The stock has a market cap of $4.50 billion, a price-to-earnings ratio of 25.27 and a beta of 0.85. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.10 and a quick ratio of 1.14. Acushnet Holdings Corp. has a 52 week low of $55.74 and a 52 week high of $76.38.

Acushnet (NYSE:GOLF) last announced its earnings results on Thursday, November 7th. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.10. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. The company had revenue of $620.50 million for the quarter, compared to analyst estimates of $620.40 million. During the same period in the prior year, the business earned $0.85 earnings per share. Acushnet’s quarterly revenue was up 4.6% on a year-over-year basis. As a group, research analysts forecast that Acushnet Holdings Corp. will post 3.06 EPS for the current year.

Acushnet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a $0.215 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.86 annualized dividend and a dividend yield of 1.16%. Acushnet’s dividend payout ratio (DPR) is currently 29.25%.

Analyst Ratings Changes

Several analysts recently commented on GOLF shares. Truist Financial boosted their price target on Acushnet from $65.00 to $68.00 and gave the company a “hold” rating in a research note on Friday, November 8th. Jefferies Financial Group downgraded shares of Acushnet from a “buy” rating to a “hold” rating and reduced their target price for the company from $86.00 to $75.00 in a research note on Tuesday, September 17th. Finally, Compass Point dropped their target price on shares of Acushnet from $78.00 to $76.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $71.40.

Institutional Investors Weigh In On Acushnet

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Acushnet by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 3,010,318 shares of the company’s stock valued at $198,530,000 after acquiring an additional 15,088 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Acushnet by 8.2% during the third quarter. Victory Capital Management Inc. now owns 1,072,692 shares of the company’s stock worth $68,384,000 after purchasing an additional 81,065 shares during the period. Principal Financial Group Inc. increased its holdings in Acushnet by 6.7% in the third quarter. Principal Financial Group Inc. now owns 1,013,857 shares of the company’s stock valued at $64,632,000 after purchasing an additional 63,294 shares during the last quarter. Jane Street Group LLC lifted its stake in Acushnet by 702.1% in the third quarter. Jane Street Group LLC now owns 508,705 shares of the company’s stock valued at $32,430,000 after buying an additional 445,281 shares during the period. Finally, Raymond James & Associates boosted its holdings in Acushnet by 0.9% during the third quarter. Raymond James & Associates now owns 466,099 shares of the company’s stock worth $29,714,000 after buying an additional 4,300 shares during the last quarter. Institutional investors own 53.12% 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.