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 that occurred on Wednesday, March 4th. The stock was sold at an average price of $100.00, for a total value of $420,600.00. Following the transaction, the director owned 37,017 shares of the company’s stock, valued at approximately $3,701,700. This trade represents a 10.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Acushnet Stock Performance

Shares of Acushnet stock traded down $1.62 during midday trading on Friday, hitting $95.67. The company had a trading volume of 412,769 shares, compared to its average volume of 370,438. Acushnet has a 1-year low of $55.31 and a 1-year high of $104.81. The business’s 50 day simple moving average is $94.39 and its two-hundred day simple moving average is $84.72. The stock has a market cap of $5.60 billion, a PE ratio of 30.86 and a beta of 0.88. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.38 and a quick ratio of 1.30.

Acushnet (NYSE:GOLF) last released its earnings results on Thursday, February 26th. The company reported ($0.58) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.31). Acushnet had a net margin of 7.37% and a return on equity of 25.49%. The company had revenue of $477.22 million for the quarter, compared to analyst estimates of $453.59 million. During the same quarter in the previous year, the company earned ($0.02) earnings per share. Acushnet’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, equities analysts predict that Acushnet will post 3.06 EPS for the current fiscal year.

Acushnet Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be paid a $0.255 dividend. The ex-dividend date is Friday, March 6th. This is a boost from Acushnet’s previous quarterly dividend of $0.24. This represents a $1.02 annualized dividend and a dividend yield of 1.1%. Acushnet’s dividend payout ratio is 30.32%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on GOLF shares. Zacks Research lowered Acushnet from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. KeyCorp restated a “sector weight” rating on shares of Acushnet in a research report on Friday, January 16th. Weiss Ratings restated a “buy (b)” rating on shares of Acushnet in a research note on Wednesday, January 21st. Truist Financial raised 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. Finally, Morgan Stanley boosted their price target on shares of Acushnet from $90.00 to $95.00 and gave the company an “equal weight” rating in a report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $89.57.

Institutional Trading of Acushnet

A number of large investors have recently bought and sold shares of GOLF. Royal Bank of Canada lifted its holdings in shares of Acushnet by 6.6% during the first quarter. Royal Bank of Canada now owns 88,703 shares of the company’s stock valued at $6,090,000 after acquiring an additional 5,510 shares during the period. AQR Capital Management LLC increased its position in shares of Acushnet by 2.5% during the 1st quarter. AQR Capital Management LLC now owns 19,498 shares of the company’s stock worth $1,339,000 after purchasing an additional 475 shares in the last quarter. Integrated Wealth Concepts LLC lifted its holdings in Acushnet by 13.5% during the 1st quarter. Integrated Wealth Concepts LLC now owns 4,603 shares of the company’s stock valued at $316,000 after purchasing an additional 548 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Acushnet by 2.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,560 shares of the company’s stock valued at $1,137,000 after buying an additional 460 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in Acushnet by 39.0% during the first quarter. Goldman Sachs Group Inc. now owns 249,807 shares of the company’s stock worth $17,152,000 after buying an additional 70,095 shares during the last quarter. 53.12% of the stock is currently owned by institutional investors.

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.