Acushnet (NYSE:GOLF) Insider Sells $50,255.00 in Stock

Acushnet (NYSE:GOLF) insider Nicholas Mohamed sold 529 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $95.00, for a total transaction of $50,255.00. Following the transaction, the insider directly owned 2,868 shares of the company’s stock, valued at $272,460. The trade was a 15.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Acushnet Stock Performance

Shares of GOLF stock opened at $98.13 on Monday. The company has a quick ratio of 1.59, a current ratio of 2.87 and a debt-to-equity ratio of 1.36. Acushnet has a 52 week low of $69.54 and a 52 week high of $104.81. The stock has a market capitalization of $5.75 billion, a PE ratio of 34.55 and a beta of 0.85. The firm has a 50 day moving average of $92.75 and a two-hundred day moving average of $91.94.

Acushnet (NYSE:GOLF) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $1.36 EPS for the quarter, missing the consensus estimate of $1.38 by ($0.02). Acushnet had a net margin of 6.54% and a return on equity of 22.95%. The business had revenue of $752.98 million during the quarter, compared to analysts’ expectations of $722.48 million. During the same period in the prior year, the business earned $1.62 EPS. The business’s quarterly revenue was up 7.1% on a year-over-year basis. On average, research analysts predict that Acushnet will post 3.82 EPS for the current fiscal year.

Acushnet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Friday, June 5th will be given a $0.255 dividend. This represents a $1.02 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, June 5th. Acushnet’s dividend payout ratio (DPR) is currently 35.92%.

Institutional Investors Weigh In On Acushnet

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Oregon Public Employees Retirement Fund raised its stake in Acushnet by 1.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 6,300 shares of the company’s stock worth $503,000 after acquiring an additional 100 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in Acushnet by 3.3% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,213 shares of the company’s stock worth $336,000 after acquiring an additional 133 shares in the last quarter. Steward Partners Investment Advisory LLC raised its stake in Acushnet by 2.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 5,779 shares of the company’s stock worth $461,000 after acquiring an additional 135 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Acushnet by 2.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 7,046 shares of the company’s stock worth $553,000 after acquiring an additional 140 shares in the last quarter. Finally, Illinois Municipal Retirement Fund raised its stake in Acushnet by 1.0% during the 1st quarter. Illinois Municipal Retirement Fund now owns 15,021 shares of the company’s stock worth $1,404,000 after acquiring an additional 142 shares in the last quarter. 53.12% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on GOLF shares. Zacks Research cut shares of Acushnet from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Truist Financial raised their price target on shares of Acushnet from $95.00 to $97.00 and gave the company a “hold” rating in a research report on Tuesday, May 19th. Jefferies Financial Group reissued a “hold” rating on shares of Acushnet in a research report on Thursday, February 26th. Roth Mkm set a $87.00 price target on shares of Acushnet in a research report on Thursday, May 7th. Finally, Weiss Ratings lowered shares of Acushnet from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, May 27th. One equities research analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $94.17.

Acushnet Company Profile

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.