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

Acushnet (NYSE:GOLF) insider Nicholas Mohamed sold 529 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $95.00, for a total transaction of $50,255.00. Following the transaction, the insider owned 2,868 shares in the company, valued at $272,460. This represents a 15.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Acushnet Price Performance

GOLF opened at $98.13 on Friday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.59 and a current ratio of 2.87. The stock has a market capitalization of $5.75 billion, a P/E ratio of 34.55 and a beta of 0.85. The company’s 50-day simple moving average is $92.75 and its two-hundred day simple moving average is $91.88. Acushnet has a 52-week low of $69.54 and a 52-week high of $104.81.

Acushnet (NYSE:GOLF) last released its quarterly earnings results 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 business had revenue of $752.98 million for the quarter, compared to analysts’ expectations of $722.48 million. During the same period in the previous year, the company earned $1.62 EPS. Acushnet’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, analysts predict that Acushnet will post 3.82 EPS for the current year.

Acushnet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Friday, June 5th will be given a dividend of $0.255 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.02 annualized dividend and a dividend yield of 1.0%. Acushnet’s dividend payout ratio is presently 35.92%.

Institutional Investors Weigh In On Acushnet

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GOLF. Fisher Asset Management LLC increased its holdings in Acushnet by 238.0% in the 3rd quarter. Fisher Asset Management LLC now owns 704,151 shares of the company’s stock worth $55,269,000 after acquiring an additional 495,794 shares in the last quarter. Morgan Stanley grew its holdings in Acushnet by 22.3% during the 4th quarter. Morgan Stanley now owns 1,379,236 shares of the company’s stock valued at $110,091,000 after buying an additional 251,889 shares in the last quarter. M&T Bank Corp grew its holdings in Acushnet by 668.1% during the 4th quarter. M&T Bank Corp now owns 159,874 shares of the company’s stock valued at $12,761,000 after buying an additional 139,060 shares in the last quarter. Neumeier Poma Investment Counsel LLC grew its holdings in Acushnet by 51.7% during the 4th quarter. Neumeier Poma Investment Counsel LLC now owns 384,424 shares of the company’s stock valued at $30,685,000 after buying an additional 130,990 shares in the last quarter. Finally, Capital Research Global Investors grew its holdings in Acushnet by 8.5% during the 4th quarter. Capital Research Global Investors now owns 1,465,000 shares of the company’s stock valued at $116,936,000 after buying an additional 115,000 shares in the last quarter. 53.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Jefferies Financial Group reaffirmed a “hold” rating on shares of Acushnet in a research report on Thursday, February 26th. UBS Group set a $100.00 price target on shares of Acushnet in a research report on Thursday, February 26th. Roth Mkm set a $87.00 price target on shares of Acushnet in a research report on Thursday, May 7th. Zacks Research lowered shares of Acushnet from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Finally, Weiss Ratings lowered shares of Acushnet from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, May 27th. One research analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price 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.