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 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 transaction, the insider now owns 88,710 shares in the company, valued at $6,556,556.10. This represents a 5.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Acushnet Stock Performance

Shares of GOLF stock opened at $72.92 on Thursday. The firm has a market cap of $4.43 billion, a P/E ratio of 25.33 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 fifty-two week low of $55.74 and a fifty-two week high of $76.38. The stock’s 50-day moving average is $65.00 and its two-hundred day moving average is $65.39.

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

Acushnet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a $0.215 dividend. This represents a $0.86 annualized dividend and a dividend yield of 1.18%. The ex-dividend date is Friday, December 6th. Acushnet’s payout ratio is presently 29.25%.

Hedge Funds Weigh In On Acushnet

Hedge funds have recently bought and sold shares of the business. New Covenant Trust Company N.A. bought a new stake in shares of Acushnet during the 1st quarter worth about $27,000. Brown Lisle Cummings Inc. acquired a new stake in Acushnet in the 3rd quarter worth approximately $40,000. Prospera Private Wealth LLC bought a new stake in Acushnet during the third quarter worth approximately $41,000. nVerses Capital LLC acquired a new position in Acushnet during the third quarter valued at approximately $57,000. Finally, Quarry LP raised its position in shares of Acushnet by 745.6% in the third quarter. Quarry LP now owns 1,057 shares of the company’s stock valued at $67,000 after purchasing an additional 932 shares during the period. 53.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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.