Insider Selling: Acushnet Holdings Corp. (NYSE:GOLF) Insider Sells $1,417,200.00 in Stock

Acushnet Holdings Corp. (NYSE:GOLF) insider Steven Francis Pelisek sold 20,000 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $70.86, for a total value of $1,417,200.00. Following the sale, the insider now owns 96,006 shares in the company, valued at approximately $6,802,985.16. This trade represents a 17.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Acushnet Price Performance

Shares of NYSE GOLF opened at $64.34 on Friday. The company has a market capitalization of $3.86 billion, a PE ratio of 21.88 and a beta of 0.79. The company has a quick ratio of 1.14, a current ratio of 2.10 and a debt-to-equity ratio of 0.79. Acushnet Holdings Corp. has a twelve month low of $58.54 and a twelve month high of $76.65. The firm has a fifty day simple moving average of $68.22 and a 200 day simple moving average of $67.62.

Acushnet (NYSE:GOLF) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.31. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. The firm had revenue of $445.17 billion during the quarter, compared to analyst estimates of $454.83 million. On average, sell-side analysts forecast that Acushnet Holdings Corp. will post 3.06 EPS for the current year.

Acushnet Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be given a dividend of $0.235 per share. This is an increase from Acushnet’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.94 annualized dividend and a dividend yield of 1.46%. Acushnet’s dividend payout ratio (DPR) is 28.23%.

Analyst Ratings Changes

A number of research firms have weighed in on GOLF. JPMorgan Chase & Co. lowered shares of Acushnet from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $69.00 to $64.00 in a report on Thursday, January 23rd. StockNews.com cut shares of Acushnet from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. KeyCorp lowered their target price on Acushnet from $80.00 to $77.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. Finally, Compass Point upgraded Acushnet from a “neutral” rating to a “buy” rating and upped their price target for the company from $77.00 to $80.00 in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $72.80.

Institutional Trading of Acushnet

Several hedge funds have recently modified their holdings of the stock. US Bancorp DE grew its holdings in Acushnet by 8.2% in the third quarter. US Bancorp DE now owns 9,897 shares of the company’s stock worth $631,000 after purchasing an additional 753 shares during the period. Atria Investments Inc boosted its position in shares of Acushnet by 7.5% during the 3rd quarter. Atria Investments Inc now owns 23,622 shares of the company’s stock worth $1,506,000 after purchasing an additional 1,650 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Acushnet in the 3rd quarter valued at about $654,000. Victory Capital Management Inc. increased its position in Acushnet by 8.2% in the 3rd quarter. Victory Capital Management Inc. now owns 1,072,692 shares of the company’s stock valued at $68,384,000 after buying an additional 81,065 shares in the last quarter. Finally, Lummis Asset Management LP raised its stake in Acushnet by 11.6% during the 3rd quarter. Lummis Asset Management LP now owns 34,497 shares of the company’s stock worth $2,199,000 after buying an additional 3,574 shares during the period. Institutional investors own 53.12% of the company’s stock.

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.