Insider Selling: Acushnet Holdings Corp. (NYSE:GOLF) Insider Sells 5,000 Shares of Stock

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

Acushnet Stock Down 0.4 %

Shares of GOLF opened at $73.94 on Wednesday. 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 $4.50 billion, a price-to-earnings ratio of 25.15 and a beta of 0.85. The company has a 50-day moving average price of $64.79 and a two-hundred day moving average price of $65.32. The company has a quick ratio of 1.14, a current ratio of 2.10 and a debt-to-equity ratio of 0.79.

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

Acushnet Announces Dividend

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

Institutional Trading of Acushnet

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

Analysts Set New Price Targets

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