Insider Selling: Acushnet Holdings Corp. (NYSE:GOLF) Insider Sells 30,000 Shares of Stock

Acushnet Holdings Corp. (NYSE:GOLFGet Rating) insider Mary Louise Bohn sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $51.42, for a total transaction of $1,542,600.00. Following the sale, the insider now directly owns 185,955 shares of the company’s stock, valued at approximately $9,561,806.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Acushnet Stock Up 2.2 %

NYSE:GOLF opened at $47.32 on Tuesday. The company has a market cap of $3.19 billion, a PE ratio of 15.83 and a beta of 0.80. Acushnet Holdings Corp. has a 52-week low of $37.46 and a 52-week high of $54.11. The stock has a 50-day simple moving average of $49.99 and a 200 day simple moving average of $47.73. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.35 and a current ratio of 2.73.

Acushnet (NYSE:GOLFGet Rating) last announced its earnings results on Thursday, May 4th. The company reported $1.36 EPS for the quarter, topping the consensus estimate of $1.09 by $0.27. Acushnet had a net margin of 9.08% and a return on equity of 20.56%. The business had revenue of $686.30 million during the quarter, compared to analysts’ expectations of $631.12 million. During the same quarter in the prior year, the company posted $1.10 earnings per share. The firm’s revenue was up 13.2% on a year-over-year basis. On average, sell-side analysts expect that Acushnet Holdings Corp. will post 2.86 EPS for the current fiscal year.

Acushnet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 16th. Investors of record on Friday, June 2nd will be given a $0.195 dividend. This represents a $0.78 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date is Thursday, June 1st. Acushnet’s dividend payout ratio is currently 26.09%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on GOLF. Tigress Financial upgraded Acushnet from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $50.00 to $62.00 in a research report on Tuesday, March 14th. Morgan Stanley upped their price target on shares of Acushnet from $50.00 to $54.00 and gave the stock an “equal weight” rating in a research report on Friday, March 3rd. Compass Point downgraded shares of Acushnet from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $65.00 to $55.00 in a research note on Tuesday, March 14th. KeyCorp assumed coverage on shares of Acushnet in a research report on Wednesday, April 19th. They set an “overweight” rating and a $57.00 target price on the stock. Finally, began coverage on shares of Acushnet in a report on Thursday, March 16th. They issued a “hold” rating for the company. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $52.63.

Institutional Trading of Acushnet

Several institutional investors and hedge funds have recently bought and sold shares of the stock. MetLife Investment Management LLC increased its position in shares of Acushnet by 55.2% during the 1st quarter. MetLife Investment Management LLC now owns 19,154 shares of the company’s stock worth $771,000 after purchasing an additional 6,810 shares during the last quarter. Panagora Asset Management Inc. bought a new stake in Acushnet during the first quarter worth $270,000. Dimensional Fund Advisors LP lifted its stake in Acushnet by 4.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,530,671 shares of the company’s stock valued at $61,630,000 after acquiring an additional 64,464 shares during the last quarter. Aviva PLC grew its position in shares of Acushnet by 10.1% in the 1st quarter. Aviva PLC now owns 51,962 shares of the company’s stock valued at $2,092,000 after acquiring an additional 4,766 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Acushnet by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 3,126,762 shares of the company’s stock worth $125,883,000 after purchasing an additional 24,312 shares during the last quarter. Institutional investors own 49.39% of the company’s stock.

Acushnet Company Profile

(Get Rating)

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.

Further Reading

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