Steven Francis Pelisek Sells 20,000 Shares of Acushnet Holdings Corp. (NYSE:GOLF) Stock

Acushnet Holdings Corp. (NYSE:GOLF) insider Steven Francis Pelisek sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $70.86, for a total transaction of $1,417,200.00. Following the completion of the sale, the insider now directly owns 96,006 shares of the company’s stock, valued at approximately $6,802,985.16. This represents a 17.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Acushnet Stock Down 2.7 %

GOLF stock opened at $66.62 on Thursday. Acushnet Holdings Corp. has a 12 month low of $58.54 and a 12 month high of $76.65. The firm has a market cap of $3.99 billion, a PE ratio of 22.66 and a beta of 0.79. The firm has a 50 day simple moving average of $68.37 and a 200 day simple moving average of $67.64. 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 (NYSE:GOLF) last released its earnings results on Thursday, February 27th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.31. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. The business had revenue of $445.17 billion during the quarter, compared to analyst estimates of $454.83 million. Equities research analysts forecast that Acushnet Holdings Corp. will post 3.06 earnings per share for the current fiscal year.

Acushnet Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be paid a $0.235 dividend. This is a positive change from Acushnet’s previous quarterly dividend of $0.22. The ex-dividend date is Friday, March 7th. This represents a $0.94 dividend on an annualized basis and a yield of 1.41%. Acushnet’s dividend payout ratio (DPR) is currently 28.23%.

Hedge Funds Weigh In On Acushnet

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its stake in Acushnet by 100.6% in the 4th quarter. Blue Trust Inc. now owns 351 shares of the company’s stock worth $25,000 after purchasing an additional 176 shares during the period. Public Employees Retirement System of Ohio acquired a new position in Acushnet in the 4th quarter worth approximately $31,000. Prospera Private Wealth LLC acquired a new position in Acushnet in the 3rd quarter worth approximately $41,000. Lazard Asset Management LLC acquired a new position in Acushnet in the 4th quarter worth approximately $51,000. Finally, Point72 Asia Singapore Pte. Ltd. boosted its stake in Acushnet by 39.6% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 818 shares of the company’s stock worth $58,000 after purchasing an additional 232 shares during the period. Institutional investors and hedge funds own 53.12% of the company’s stock.

Wall Street Analyst Weigh In

GOLF has been the subject of a number of research analyst reports. KeyCorp reduced their price target on shares of Acushnet from $80.00 to $77.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. StockNews.com lowered shares of Acushnet from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. Compass Point raised shares of Acushnet from a “neutral” rating to a “buy” rating and upped their price target for the stock from $77.00 to $80.00 in a research note on Tuesday, March 4th. Finally, JPMorgan Chase & Co. lowered shares of Acushnet from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $69.00 to $64.00 in a research note on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Acushnet has a consensus rating of “Hold” and a consensus price target of $72.80.

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.