Acushnet (NYSE:GOLF) Director Gregory Hewett Sells 4,206 Shares of Stock

Acushnet (NYSE:GOLF) Director Gregory Hewett sold 4,206 shares of Acushnet stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $100.00, for a total value of $420,600.00. Following the sale, the director directly owned 37,017 shares of the company’s stock, valued at approximately $3,701,700. The trade was a 10.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Acushnet Stock Performance

Shares of GOLF stock opened at $95.67 on Friday. Acushnet has a fifty-two week low of $55.31 and a fifty-two week high of $104.81. The stock’s 50-day moving average is $94.64 and its two-hundred day moving average is $84.84. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.38 and a quick ratio of 1.30. The firm has a market cap of $5.60 billion, a P/E ratio of 30.86 and a beta of 0.88.

Acushnet (NYSE:GOLF) last announced its quarterly earnings results on Thursday, February 26th. The company reported ($0.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.31). The firm had revenue of $477.22 million for the quarter, compared to analyst estimates of $453.59 million. Acushnet had a net margin of 7.37% and a return on equity of 25.49%. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.02) earnings per share. Analysts predict that Acushnet will post 3.06 earnings per share for the current fiscal year.

Acushnet Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be paid a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 1.1%. This is a boost from Acushnet’s previous quarterly dividend of $0.24. The ex-dividend date is Friday, March 6th. Acushnet’s dividend payout ratio is presently 30.32%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of GOLF. Brown Brothers Harriman & Co. grew its position in shares of Acushnet by 389.6% in the third quarter. Brown Brothers Harriman & Co. now owns 328 shares of the company’s stock valued at $26,000 after purchasing an additional 261 shares during the last quarter. Kelleher Financial Advisors acquired a new stake in Acushnet in the 3rd quarter valued at approximately $28,000. EverSource Wealth Advisors LLC increased its position in Acushnet by 149.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 492 shares of the company’s stock worth $36,000 after buying an additional 295 shares during the period. Nisa Investment Advisors LLC increased its position in Acushnet by 83.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 540 shares of the company’s stock worth $39,000 after buying an additional 246 shares during the period. Finally, Allworth Financial LP lifted its holdings in shares of Acushnet by 57.3% during the third quarter. Allworth Financial LP now owns 505 shares of the company’s stock worth $40,000 after buying an additional 184 shares during the last quarter. Institutional investors and hedge funds own 53.12% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on GOLF. UBS Group set a $100.00 price target on shares of Acushnet in a report on Thursday, February 26th. Zacks Research lowered Acushnet from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th. Weiss Ratings downgraded Acushnet from a “buy (b)” rating to a “hold (c+)” rating in a research note on Thursday. JPMorgan Chase & Co. raised Acushnet from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $74.00 to $96.00 in a research note on Friday, January 23rd. Finally, Truist Financial boosted their target price on Acushnet from $74.00 to $95.00 and gave the stock a “hold” rating in a report on Monday, February 9th. Nine research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $89.57.

About Acushnet

Acushnet Holdings Corp., traded on the NYSE under the symbol GOLF, is a leading designer, manufacturer and marketer of golf equipment, footwear, apparel and accessories. The company’s portfolio encompasses a range of golf lifestyle products, with a focus on innovation, performance and quality for players of all skill levels.

At the core of Acushnet’s product lineup is the Titleist brand, globally recognized for its Tour-level golf balls and precision-engineered clubs. FootJoy offers golf shoes, gloves and apparel that blend comfort, style and technical performance, while Scotty Cameron putters and Vokey design wedges cater to players seeking exacting standards in feel and accuracy.