Acushnet (NYSE:GOLF) Coverage Initiated at StockNews.com

StockNews.com assumed coverage on shares of Acushnet (NYSE:GOLF – Get Rating) in a research note issued to investors on Thursday. The brokerage set a “hold” rating on the stock.

A number of other brokerages also recently weighed in on GOLF. Tigress Financial raised shares of Acushnet from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $50.00 to $62.00 in a research note on Tuesday. Compass Point cut shares of Acushnet from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $65.00 to $55.00 in a report on Tuesday. Stephens raised their price target on shares of Acushnet from $52.00 to $53.00 and gave the stock an “equal weight” rating in a report on Thursday, March 2nd. Finally, Morgan Stanley raised their price target on shares of Acushnet from $50.00 to $54.00 and gave the stock an “equal weight” rating in a report on Friday, March 3rd. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $52.00.

Acushnet Price Performance

Shares of NYSE GOLF opened at $48.81 on Thursday. Acushnet has a twelve month low of $37.46 and a twelve month high of $54.11. The firm has a fifty day simple moving average of $48.46 and a 200 day simple moving average of $46.64. The company has a market capitalization of $3.27 billion, a PE ratio of 17.88 and a beta of 0.77. The company has a quick ratio of 0.70, a current ratio of 1.93 and a debt-to-equity ratio of 0.54.

Insider Activity

In other news, Director Holdings Corp. Fila sold 2,168,528 shares of Acushnet stock in a transaction dated Monday, January 23rd. The shares were sold at an average price of $46.11, for a total transaction of $99,990,826.08. Following the completion of the transaction, the director now directly owns 34,935,480 shares in the company, valued at $1,610,874,982.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Thomas Pacheco sold 20,000 shares of Acushnet stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $51.92, for a total transaction of $1,038,400.00. Following the completion of the transaction, the insider now directly owns 60,368 shares in the company, valued at $3,134,306.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Holdings Corp. Fila sold 2,168,528 shares of the business’s stock in a transaction dated Monday, January 23rd. The stock was sold at an average price of $46.11, for a total transaction of $99,990,826.08. Following the transaction, the director now owns 34,935,480 shares in the company, valued at $1,610,874,982.80. The disclosure for this sale can be found here. Insiders sold 2,203,528 shares of company stock worth $101,811,476 over the last three months. 53.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GOLF. Norges Bank purchased a new position in Acushnet during the fourth quarter worth about $16,261,000. Raymond James & Associates boosted its holdings in Acushnet by 146.4% during the third quarter. Raymond James & Associates now owns 546,263 shares of the company’s stock worth $23,757,000 after purchasing an additional 324,564 shares during the last quarter. Macquarie Group Ltd. boosted its holdings in Acushnet by 21.1% during the second quarter. Macquarie Group Ltd. now owns 1,306,948 shares of the company’s stock worth $54,474,000 after purchasing an additional 228,162 shares during the last quarter. Marshall Wace LLP raised its position in Acushnet by 719.0% in the fourth quarter. Marshall Wace LLP now owns 211,502 shares of the company’s stock worth $8,980,000 after acquiring an additional 185,677 shares during the period. Finally, Lansdowne Partners UK LLP bought a new stake in Acushnet in the fourth quarter worth about $7,062,000. 49.39% of the stock is currently owned by hedge funds and other institutional investors.

About Acushnet

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Acushnet Holdings Corp. engages in the design, development, manufacture, and distribution of performance-driven golf products. It operates through the following segments: Titleist Golf Balls, Titleist Golf Clubs, Titleist Golf Gear, FootJoy Golf Wear, and Other. The Titleist Golf Balls segment is involved in the design and manufacture of golf balls.