Acushnet (NYSE:GOLF) Hits New 1-Year High – Here’s What Happened

Acushnet (NYSE:GOLF)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $103.19 and last traded at $102.6150, with a volume of 11703 shares. The stock had previously closed at $101.54.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on GOLF shares. Roth Mkm reiterated a “neutral” rating and set a $80.00 target price on shares of Acushnet in a research report on Thursday, November 6th. Truist Financial upped their price objective on Acushnet from $74.00 to $95.00 and gave the stock a “hold” rating in a report on Monday. Weiss Ratings reissued a “buy (b)” rating on shares of Acushnet in a report on Wednesday, January 21st. Morgan Stanley upped 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, KeyCorp reiterated a “sector weight” rating on shares of Acushnet in a research note on Friday, January 16th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $87.83.

Acushnet Stock Performance

The stock has a market capitalization of $6.00 billion, a price-to-earnings ratio of 27.96 and a beta of 0.89. The stock’s 50 day moving average is $88.75 and its 200 day moving average is $82.23. The company has a current ratio of 2.42, a quick ratio of 1.30 and a debt-to-equity ratio of 1.03.

Insider Buying and Selling

In other Acushnet news, insider Steven Francis Pelisek sold 20,000 shares of the stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $84.66, for a total transaction of $1,693,200.00. Following the sale, the insider owned 76,006 shares in the company, valued at approximately $6,434,667.96. This represents a 20.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David Eugene Maher sold 26,939 shares of the firm’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $79.33, for a total value of $2,137,070.87. Following the transaction, the chief executive officer directly owned 852,092 shares of the company’s stock, valued at $67,596,458.36. The trade was a 3.06% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 71,460 shares of company stock worth $5,786,311. 53.60% of the stock is owned by corporate insiders.

Institutional Trading of Acushnet

Hedge funds have recently added to or reduced their stakes in the business. Brown Brothers Harriman & Co. lifted its holdings in shares of Acushnet by 389.6% during the 3rd 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 period. Kelleher Financial Advisors acquired a new position in Acushnet during the third quarter worth approximately $28,000. EverSource Wealth Advisors LLC raised its stake in Acushnet by 149.7% during the second 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 boosted 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 valued at $39,000 after purchasing an additional 246 shares during the last quarter. Finally, Allworth Financial LP grew its stake in shares of Acushnet by 57.3% during the 3rd quarter. Allworth Financial LP now owns 505 shares of the company’s stock valued at $40,000 after buying an additional 184 shares during the period. 53.12% of the stock is owned by institutional investors and hedge funds.

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.