Acushnet (NYSE:GOLF) Shares Gap Up – Should You Buy?

Acushnet Holdings Corp. (NYSE:GOLF)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $63.83, but opened at $70.79. Acushnet shares last traded at $69.41, with a volume of 169,040 shares traded.

Analysts Set New Price Targets

GOLF has been the topic of a number of research reports. Truist Financial boosted their target price on shares of Acushnet from $65.00 to $68.00 and gave the stock a “hold” rating in a report on Friday, November 8th. JPMorgan Chase & Co. downgraded Acushnet from a “neutral” rating to an “underweight” rating and decreased their price objective for the company from $69.00 to $64.00 in a report on Thursday, January 23rd.

Acushnet Price Performance

The company has a current ratio of 2.10, a quick ratio of 1.14 and a debt-to-equity ratio of 0.79. The business’s 50-day simple moving average is $70.61 and its two-hundred day simple moving average is $67.84. The firm has a market cap of $4.12 billion, a price-to-earnings ratio of 23.02 and a beta of 0.86.

Insider Transactions at Acushnet

In other news, insider Christopher Aaron Lindner sold 5,000 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $73.91, for a total value of $369,550.00. Following the transaction, the insider now directly owns 88,710 shares of the company’s stock, valued at $6,556,556.10. The trade was a 5.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 54.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Acushnet

A number of hedge funds have recently added to or reduced their stakes in GOLF. Wedbush Securities Inc. bought a new position in shares of Acushnet during the 4th quarter worth approximately $221,000. Envestnet Asset Management Inc. grew its holdings in Acushnet by 14.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 229,169 shares of the company’s stock worth $16,289,000 after purchasing an additional 29,367 shares during the period. Landscape Capital Management L.L.C. increased its stake in Acushnet by 50.4% in the fourth quarter. Landscape Capital Management L.L.C. now owns 24,877 shares of the company’s stock valued at $1,768,000 after purchasing an additional 8,335 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Acushnet by 13.8% during the fourth quarter. Franklin Resources Inc. now owns 25,987 shares of the company’s stock valued at $1,847,000 after purchasing an additional 3,156 shares during the period. Finally, Alliancebernstein L.P. boosted its position in shares of Acushnet by 1.8% during the 4th quarter. Alliancebernstein L.P. now owns 37,309 shares of the company’s stock worth $2,652,000 after purchasing an additional 647 shares in the last quarter. 53.12% of the stock is currently owned by institutional investors.

About Acushnet

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.