Insider Selling: Acushnet (NYSE:GOLF) Insider Sells $1,368,900.00 in Stock

Acushnet (NYSE:GOLF) insider Steven Francis Pelisek sold 15,000 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $91.26, for a total transaction of $1,368,900.00. Following the sale, the insider directly owned 70,512 shares in the company, valued at $6,434,925.12. This trade represents a 17.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Acushnet Stock Performance

Shares of NYSE GOLF opened at $88.92 on Friday. The company’s fifty day moving average price is $92.77 and its 200 day moving average price is $91.00. Acushnet has a 1 year low of $67.14 and a 1 year high of $104.81. The company has a market capitalization of $5.21 billion, a PE ratio of 31.31 and a beta of 0.88. 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 announced its quarterly earnings results on Wednesday, May 6th. The company reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.02). Acushnet had a return on equity of 22.95% and a net margin of 6.54%.The firm had revenue of $752.98 million for the quarter, compared to analysts’ expectations of $722.48 million. During the same period last year, the company posted $1.62 earnings per share. The business’s quarterly revenue was up 7.1% on a year-over-year basis. On average, research analysts predict that Acushnet will post 3.82 earnings per share for the current year.

Acushnet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Friday, June 5th will be issued a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Friday, June 5th. Acushnet’s dividend payout ratio (DPR) is presently 35.92%.

Wall Street Analyst Weigh In

GOLF has been the topic of several recent analyst reports. Truist Financial increased their price objective on shares of Acushnet from $95.00 to $97.00 and gave the company a “hold” rating in a report on Tuesday, May 19th. UBS Group set a $100.00 price objective on shares of Acushnet in a report on Thursday, February 26th. Roth Mkm set a $87.00 price objective on shares of Acushnet in a report on Thursday, May 7th. Zacks Research downgraded shares of Acushnet from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of Acushnet in a report on Thursday, February 26th. One analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $94.17.

Institutional Investors Weigh In On Acushnet

A number of hedge funds have recently modified their holdings of GOLF. Millstone Evans Group LLC raised its position in shares of Acushnet by 170.2% in the first quarter. Millstone Evans Group LLC now owns 281 shares of the company’s stock valued at $26,000 after buying an additional 177 shares during the last quarter. Brown Brothers Harriman & Co. raised its position in shares of Acushnet by 389.6% in the third quarter. Brown Brothers Harriman & Co. now owns 328 shares of the company’s stock valued at $26,000 after buying an additional 261 shares during the last quarter. Kelleher Financial Advisors acquired a new stake in shares of Acushnet in the third quarter valued at about $28,000. EverSource Wealth Advisors LLC raised its position in shares of Acushnet by 149.7% in the second quarter. EverSource Wealth Advisors LLC now owns 492 shares of the company’s stock valued at $36,000 after buying an additional 295 shares during the last quarter. Finally, Allworth Financial LP raised its position in shares of Acushnet by 57.3% in the third quarter. Allworth Financial LP now owns 505 shares of the company’s stock valued at $40,000 after buying an additional 184 shares during the last quarter. 53.12% of the stock is currently 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.