Acushnet (NYSE:GOLF) Insider Sells $50,255.00 in Stock

Acushnet (NYSE:GOLF) insider Nicholas Mohamed sold 529 shares of the company’s stock in a transaction that occurred 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 sale, the insider owned 2,868 shares in the company, valued at approximately $272,460. This represents a 15.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Acushnet Stock Performance

NYSE GOLF traded down $1.31 during trading hours on Friday, reaching $98.13. The stock had a trading volume of 370,161 shares, compared to its average volume of 299,203. The stock has a fifty day moving average of $92.75 and a 200 day moving average of $91.88. The stock has a market cap of $5.75 billion, a P/E ratio of 34.55 and a beta of 0.85. Acushnet has a 52-week low of $69.54 and a 52-week high of $104.81. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.59 and a current ratio of 2.87.

Acushnet (NYSE:GOLF) last issued its earnings results on Wednesday, May 6th. The company reported $1.36 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.02). The firm had revenue of $752.98 million during the quarter, compared to analysts’ expectations of $722.48 million. Acushnet had a net margin of 6.54% and a return on equity of 22.95%. Acushnet’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.62 EPS. Sell-side analysts predict that Acushnet will post 3.82 earnings per share for the current year.

Acushnet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Friday, June 5th will be given a $0.255 dividend. The ex-dividend date is Friday, June 5th. This represents a $1.02 dividend on an annualized basis and a yield of 1.0%. Acushnet’s dividend payout ratio is currently 35.92%.

Analyst Ratings Changes

A number of brokerages have issued reports on GOLF. Zacks Research downgraded Acushnet from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th. Weiss Ratings downgraded Acushnet from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, May 27th. Jefferies Financial Group reissued a “hold” rating on shares of Acushnet in a report on Thursday, February 26th. Truist Financial boosted their price target on Acushnet from $95.00 to $97.00 and gave the company a “hold” rating in a report on Tuesday, May 19th. Finally, Roth Mkm set a $87.00 price target on Acushnet in a report on Thursday, May 7th. One analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, Acushnet presently has a consensus rating of “Hold” and a consensus target price of $94.17.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in GOLF. Royal Bank of Canada raised its stake in shares of Acushnet by 6.6% during the 1st quarter. Royal Bank of Canada now owns 88,703 shares of the company’s stock worth $6,090,000 after buying an additional 5,510 shares during the period. AQR Capital Management LLC raised its stake 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 buying an additional 475 shares during the period. Integrated Wealth Concepts LLC raised its stake in shares of Acushnet by 13.5% during the 1st quarter. Integrated Wealth Concepts LLC now owns 4,603 shares of the company’s stock worth $316,000 after buying an additional 548 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Acushnet by 2.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,560 shares of the company’s stock worth $1,137,000 after buying an additional 460 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in shares of Acushnet by 39.0% during the 1st 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 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.