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 the company’s stock in a transaction dated 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 directly 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Acushnet Trading Down 1.3 %

GOLF stock opened at $72.92 on Friday. The business’s 50-day moving average is $65.37 and its 200 day moving average is $65.49. Acushnet Holdings Corp. has a 12-month low of $55.74 and a 12-month high of $76.38. The stock has a market cap of $4.43 billion, a price-to-earnings ratio of 24.80 and a beta of 0.85. The company has a current ratio of 2.10, a quick ratio of 1.14 and a debt-to-equity ratio of 0.79.

Acushnet (NYSE:GOLF) last issued 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. 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 analyst estimates of $620.40 million. During the same period in the prior year, the business posted $0.85 earnings per share. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Acushnet Holdings Corp. will post 3.06 EPS for the current fiscal year.

Acushnet Dividend Announcement

The business also recently declared 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. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend is Friday, December 6th. Acushnet’s dividend payout ratio (DPR) is 29.25%.

Analyst Ratings Changes

GOLF has been the subject of a number of analyst reports. Jefferies Financial Group cut Acushnet from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $86.00 to $75.00 in a research note on Tuesday, September 17th. Truist Financial raised their price target on shares of Acushnet from $65.00 to $68.00 and gave the company a “hold” rating in a report on Friday, November 8th. Finally, Compass Point lowered their target price on shares of Acushnet from $78.00 to $76.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $71.40.

Institutional Trading of Acushnet

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of Acushnet by 0.5% in the first quarter. Vanguard Group Inc. now owns 3,010,318 shares of the company’s stock valued at $198,530,000 after buying an additional 15,088 shares in the last quarter. Victory Capital Management Inc. grew its position in Acushnet by 8.2% in the 3rd quarter. Victory Capital Management Inc. now owns 1,072,692 shares of the company’s stock valued at $68,384,000 after acquiring an additional 81,065 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Acushnet by 6.7% during the third quarter. Principal Financial Group Inc. now owns 1,013,857 shares of the company’s stock worth $64,632,000 after purchasing an additional 63,294 shares in the last quarter. Jane Street Group LLC boosted its stake in shares of 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 purchasing an additional 445,281 shares during the period. Finally, Raymond James & Associates grew its holdings in shares of Acushnet by 0.9% in the third quarter. Raymond James & Associates now owns 466,099 shares of the company’s stock valued at $29,714,000 after purchasing an additional 4,300 shares in 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.