Christopher Aaron Lindner Sells 5,000 Shares of Acushnet Holdings Corp. (NYSE:GOLF) Stock

Acushnet Holdings Corp. (NYSE:GOLF) insider Christopher Aaron Lindner sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $73.91, for a total transaction of $369,550.00. Following the transaction, the insider now owns 88,710 shares of the company’s stock, valued at $6,556,556.10. This trade represents a 5.34 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Acushnet Stock Performance

NYSE GOLF opened at $72.92 on Friday. The company has a fifty day moving average of $65.37 and a two-hundred day moving average of $65.49. The company has a market capitalization of $4.43 billion, a PE ratio of 24.80 and a beta of 0.85. Acushnet Holdings Corp. has a 1 year low of $55.74 and a 1 year high of $76.38. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.10 and a quick ratio of 1.14.

Acushnet (NYSE:GOLF) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.10. The business had revenue of $620.50 million during the quarter, compared to the consensus estimate of $620.40 million. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. The company’s revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.85 earnings per share. As a group, analysts expect that Acushnet Holdings Corp. will post 3.06 earnings per share for the current year.

Acushnet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a dividend of $0.215 per share. This represents a $0.86 annualized dividend and a yield of 1.18%. The ex-dividend date is Friday, December 6th. Acushnet’s payout ratio is currently 29.25%.

Institutional Investors Weigh In On Acushnet

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in Acushnet by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 3,010,318 shares of the company’s stock valued at $198,530,000 after acquiring an additional 15,088 shares during the period. Victory Capital Management Inc. grew its stake in shares of Acushnet by 871.1% in the 2nd quarter. Victory Capital Management Inc. now owns 991,627 shares of the company’s stock valued at $62,948,000 after purchasing an additional 889,515 shares during the last quarter. Janus Henderson Group PLC raised its position in Acushnet by 126.4% during the 1st quarter. Janus Henderson Group PLC now owns 36,470 shares of the company’s stock worth $2,405,000 after buying an additional 20,360 shares during the last quarter. Raymond James & Associates raised its holdings in Acushnet by 0.9% during the third quarter. Raymond James & Associates now owns 466,099 shares of the company’s stock worth $29,714,000 after purchasing an additional 4,300 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Acushnet during the 3rd quarter worth approximately $1,443,000. 53.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on GOLF. 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 research note on Friday, November 8th. Jefferies Financial Group cut Acushnet from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $86.00 to $75.00 in a research report on Tuesday, September 17th. Finally, Compass Point cut their target price on Acushnet from $78.00 to $76.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $71.40.

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.