Acushnet (NYSE:GOLF) Director Sells $420,600.00 in Stock

Acushnet (NYSE:GOLF) Director Gregory Hewett sold 4,206 shares of the company’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $100.00, for a total value of $420,600.00. Following the completion of the sale, the director directly owned 37,017 shares of the company’s stock, valued at $3,701,700. The trade was a 10.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Acushnet Stock Performance

Shares of NYSE:GOLF opened at $95.67 on Monday. The company has a market cap of $5.60 billion, a P/E ratio of 30.86 and a beta of 0.88. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.97 and a current ratio of 2.38. Acushnet has a one year low of $55.31 and a one year high of $104.81. The business’s 50-day simple moving average is $94.64 and its 200 day simple moving average is $84.94.

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

Acushnet Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be issued a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Friday, March 6th. This is a positive change from Acushnet’s previous quarterly dividend of $0.24. Acushnet’s dividend payout ratio (DPR) is 32.90%.

Institutional Investors Weigh In On Acushnet

Several institutional investors and hedge funds have recently bought and sold shares of the business. Brown Brothers Harriman & Co. lifted its holdings in Acushnet by 389.6% in the third quarter. Brown Brothers Harriman & Co. now owns 328 shares of the company’s stock worth $26,000 after acquiring an additional 261 shares during the last quarter. Kelleher Financial Advisors bought a new position in shares of Acushnet during the third quarter valued at approximately $28,000. EverSource Wealth Advisors LLC raised its position in shares of Acushnet by 149.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 492 shares of the company’s stock worth $36,000 after purchasing an additional 295 shares during the period. Nisa Investment Advisors LLC lifted its holdings in shares of 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 purchasing an additional 246 shares during the last quarter. Finally, Allworth Financial LP lifted its holdings in shares of Acushnet by 57.3% in the 3rd quarter. Allworth Financial LP now owns 505 shares of the company’s stock worth $40,000 after purchasing 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 analysts have recently issued reports on the company. Truist Financial lifted their target price on Acushnet from $74.00 to $95.00 and gave the stock a “hold” rating in a research report on Monday, February 9th. UBS Group set a $100.00 price objective on Acushnet in a research note on Thursday, February 26th. JPMorgan Chase & Co. raised Acushnet from an “underweight” rating to a “neutral” rating and upped their target price for the company from $74.00 to $96.00 in a research report on Friday, January 23rd. Morgan Stanley lifted their price target on shares of Acushnet from $90.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 22nd. Finally, Zacks Research downgraded shares of Acushnet from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Nine research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price 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.