Acushnet (NYSE:GOLF) Shares Gap Down – Here’s What Happened

Acushnet Holdings Corp. (NYSE:GOLF) shares gapped down before the market opened on Thursday . The stock had previously closed at $74.60, but opened at $68.00. Acushnet shares last traded at $66.94, with a volume of 141,829 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Truist Financial lifted their price target on shares of Acushnet from $65.00 to $68.00 and gave the company a “hold” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. lowered shares of 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 report on Thursday.

Acushnet Price Performance

The stock has a fifty day moving average of $72.27 and a 200-day moving average of $67.81. The company has a quick ratio of 1.14, a current ratio of 2.10 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $4.13 billion, a P/E ratio of 23.11 and a beta of 0.88.

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

Acushnet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were paid a $0.215 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.27%. Acushnet’s dividend payout ratio (DPR) is presently 29.25%.

Insider Activity at Acushnet

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

Hedge Funds Weigh In On Acushnet

Large investors have recently bought and sold shares of the company. Blue Trust Inc. boosted its holdings in shares of Acushnet by 100.6% in the 4th quarter. Blue Trust Inc. now owns 351 shares of the company’s stock valued at $25,000 after buying an additional 176 shares during the last quarter. SkyView Investment Advisors LLC boosted its holdings in shares of Acushnet by 0.9% in the 2nd quarter. SkyView Investment Advisors LLC now owns 20,396 shares of the company’s stock valued at $1,295,000 after buying an additional 187 shares during the last quarter. Azzad Asset Management Inc. ADV boosted its holdings in shares of Acushnet by 2.0% in the 3rd quarter. Azzad Asset Management Inc. ADV now owns 10,221 shares of the company’s stock valued at $652,000 after buying an additional 204 shares during the last quarter. Orion Portfolio Solutions LLC boosted its holdings in shares of Acushnet by 3.2% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 10,628 shares of the company’s stock valued at $678,000 after buying an additional 330 shares during the last quarter. Finally, Creative Planning boosted its holdings in shares of Acushnet by 5.1% in the 2nd quarter. Creative Planning now owns 7,194 shares of the company’s stock valued at $457,000 after buying an additional 349 shares during the last quarter. Institutional investors and hedge funds 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.