Nicholas Mohamed Sells 529 Shares of Acushnet (NYSE:GOLF) Stock

Acushnet (NYSE:GOLF) insider Nicholas Mohamed sold 529 shares of the stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $95.00, for a total value of $50,255.00. Following the completion of the transaction, the insider directly owned 2,868 shares of the company’s stock, valued at approximately $272,460. This represents a 15.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Acushnet Price Performance

NYSE GOLF traded down $1.31 during mid-day trading on Friday, hitting $98.13. The stock had a trading volume of 370,161 shares, compared to its average volume of 299,203. The firm’s 50 day moving average is $92.75 and its 200 day moving average is $91.88. Acushnet has a twelve month low of $69.54 and a twelve month high of $104.81. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.87 and a quick ratio of 1.59. The stock has a market capitalization of $5.75 billion, a price-to-earnings ratio of 34.55 and a beta of 0.85.

Acushnet (NYSE:GOLF) last posted its quarterly earnings data 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 firm had revenue of $752.98 million during the quarter, compared to analyst estimates of $722.48 million. During the same period in the prior year, the company posted $1.62 earnings per share. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. Equities research analysts forecast that Acushnet will post 3.82 earnings per share for the current fiscal year.

Acushnet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Friday, June 5th will be paid 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 is currently 35.92%.

Hedge Funds Weigh In On Acushnet

A number of hedge funds have recently modified their holdings of GOLF. Millstone Evans Group LLC lifted its stake in Acushnet by 170.2% during the 1st quarter. Millstone Evans Group LLC now owns 281 shares of the company’s stock worth $26,000 after acquiring an additional 177 shares in the last quarter. Brown Brothers Harriman & Co. lifted its stake in 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 in the last quarter. Kelleher Financial Advisors acquired a new position in Acushnet during the 3rd quarter worth about $28,000. EverSource Wealth Advisors LLC lifted its stake in 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 acquiring an additional 295 shares in the last quarter. Finally, Allworth Financial LP lifted its stake in Acushnet by 57.3% during the 3rd quarter. Allworth Financial LP now owns 505 shares of the company’s stock worth $40,000 after acquiring an additional 184 shares in the last quarter. 53.12% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on GOLF. Jefferies Financial Group reissued a “hold” rating on shares of Acushnet in a research note on Thursday, February 26th. UBS Group set a $100.00 price objective on Acushnet in a research note on Thursday, February 26th. Weiss Ratings downgraded Acushnet from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, May 27th. Truist Financial increased their price objective on Acushnet from $95.00 to $97.00 and gave the company a “hold” rating in a research note on Tuesday, May 19th. Finally, Roth Mkm set a $87.00 target price on Acushnet in a report on Thursday, May 7th. One investment analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $94.17.

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.