Acushnet Holdings Corp. (NYSE:GOLF) Insider Christopher Aaron Lindner Sells 5,000 Shares

Acushnet Holdings Corp. (NYSE:GOLF) insider Christopher Aaron Lindner sold 5,000 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $73.91, for a total transaction of $369,550.00. Following the completion of the sale, the insider now owns 88,710 shares in the company, valued at approximately $6,556,556.10. This trade represents a 5.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Acushnet Stock Down 0.4 %

NYSE GOLF traded down $0.27 during trading on Tuesday, hitting $73.94. The stock had a trading volume of 235,642 shares, compared to its average volume of 311,015. The company has a market capitalization of $4.50 billion, a PE ratio of 25.27 and a beta of 0.85. Acushnet Holdings Corp. has a 12 month low of $55.74 and a 12 month high of $76.38. The company’s 50-day moving average price is $64.79 and its two-hundred day moving average price is $65.32. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.14 and a current ratio of 2.10.

Acushnet (NYSE:GOLF) last announced its earnings results on Thursday, November 7th. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.79 by $0.10. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. The business had revenue of $620.50 million during the quarter, compared to analysts’ expectations of $620.40 million. During the same quarter in the prior year, the company posted $0.85 earnings per share. The firm’s revenue was up 4.6% on a year-over-year basis. As a group, sell-side analysts forecast that Acushnet Holdings Corp. will post 3.06 EPS for the current year.

Acushnet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a dividend of $0.215 per share. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend is Friday, December 6th. Acushnet’s dividend payout ratio is currently 29.25%.

Hedge Funds Weigh In On Acushnet

Several hedge funds and other institutional investors have recently made changes to their positions in GOLF. New Covenant Trust Company N.A. acquired a new stake in shares of Acushnet in the first quarter valued at approximately $27,000. Brown Lisle Cummings Inc. acquired a new stake in shares of Acushnet during the 3rd quarter worth about $40,000. Prospera Private Wealth LLC bought a new stake in shares of Acushnet during the third quarter worth approximately $41,000. nVerses Capital LLC bought a new stake in Acushnet in the 3rd quarter valued at $57,000. Finally, Quarry LP lifted its holdings in shares of Acushnet by 745.6% during the third quarter. Quarry LP now owns 1,057 shares of the company’s stock worth $67,000 after buying an additional 932 shares in the last quarter. 53.12% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on GOLF. Jefferies Financial Group downgraded Acushnet from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $86.00 to $75.00 in a research note on Tuesday, September 17th. Compass Point lowered their price target on Acushnet from $78.00 to $76.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Finally, Truist Financial lifted their price objective on Acushnet from $65.00 to $68.00 and gave the company a “hold” rating in a report on Friday, November 8th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Acushnet currently has a consensus rating of “Hold” and an average price target of $71.40.

Acushnet Company Profile

Acushnet Holdings Corp. designs, develops, manufactures, and distributes golf products in the United States, Europe, the Middle East, Africa, Japan, Korea, and internationally. The company operates through four segments: Titleist Golf Balls, Titleist Golf Clubs, Titleist Golf Gear, and FootJoy Golf Wear.