Acushnet (NYSE:GOLF) Insider Steven Francis Pelisek Sells 15,000 Shares

Acushnet (NYSE:GOLF) insider Steven Francis Pelisek sold 15,000 shares of the business’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $91.26, for a total transaction of $1,368,900.00. Following the completion of the transaction, the insider owned 70,512 shares of the company’s stock, valued at $6,434,925.12. This represents a 17.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Acushnet Stock Performance

GOLF opened at $89.06 on Friday. The company has a market cap of $5.21 billion, a P/E ratio of 31.36 and a beta of 0.88. The company has a quick ratio of 1.59, a current ratio of 2.87 and a debt-to-equity ratio of 1.36. The firm’s 50-day moving average price is $92.86 and its 200-day moving average price is $91.01. Acushnet has a 52-week low of $67.14 and a 52-week high of $104.81.

Acushnet (NYSE:GOLF) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.02). The business had revenue of $752.98 million during the quarter, compared to analyst estimates of $722.48 million. Acushnet had a return on equity of 22.95% and a net margin of 6.54%.Acushnet’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.62 EPS. As a group, equities analysts anticipate that Acushnet will post 3.82 EPS for the current fiscal year.

Acushnet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Friday, June 5th will be paid a dividend of $0.255 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.1%. Acushnet’s dividend payout ratio (DPR) is presently 35.92%.

Hedge Funds Weigh In On Acushnet

Institutional investors have recently bought and sold shares of the company. Fisher Asset Management LLC increased its position in Acushnet by 238.0% during the 3rd quarter. Fisher Asset Management LLC now owns 704,151 shares of the company’s stock worth $55,269,000 after purchasing an additional 495,794 shares during the period. Morgan Stanley grew its holdings in shares of Acushnet by 22.3% in the 4th quarter. Morgan Stanley now owns 1,379,236 shares of the company’s stock worth $110,091,000 after acquiring an additional 251,889 shares during the period. M&T Bank Corp grew its stake in Acushnet by 668.1% in the 4th quarter. M&T Bank Corp now owns 159,874 shares of the company’s stock valued at $12,761,000 after acquiring an additional 139,060 shares during the last quarter. Neumeier Poma Investment Counsel LLC grew its holdings in Acushnet by 51.7% during the 4th quarter. Neumeier Poma Investment Counsel LLC now owns 384,424 shares of the company’s stock valued at $30,685,000 after buying an additional 130,990 shares during the last quarter. Finally, Capital Research Global Investors grew its holdings in Acushnet by 8.5% during the 4th quarter. Capital Research Global Investors now owns 1,465,000 shares of the company’s stock valued at $116,936,000 after buying an additional 115,000 shares during the last quarter. 53.12% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Truist Financial lifted their price target on shares of Acushnet from $95.00 to $97.00 and gave the company a “hold” rating in a research note on Tuesday, May 19th. Zacks Research cut Acushnet from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th. Jefferies Financial Group restated a “hold” rating on shares of Acushnet in a report on Thursday, February 26th. Roth Mkm set a $87.00 target price on Acushnet in a report on Thursday, May 7th. Finally, UBS Group set a $100.00 price target on shares of Acushnet in a research report on Thursday, February 26th. One equities research analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target 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.