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 company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $70.86, for a total transaction of $1,417,200.00. Following the sale, the insider now owns 96,006 shares of the company’s stock, valued at $6,802,985.16. The trade was a 17.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Acushnet Stock Performance

GOLF traded down $2.25 on Tuesday, reaching $68.42. The company had a trading volume of 582,795 shares, compared to its average volume of 343,278. The stock has a market cap of $4.10 billion, a P/E ratio of 23.27 and a beta of 0.79. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.14 and a current ratio of 2.10. Acushnet Holdings Corp. has a fifty-two week low of $58.54 and a fifty-two week high of $76.65. The company’s fifty day moving average is $68.51 and its 200 day moving average is $67.64.

Acushnet (NYSE:GOLF) last posted its earnings results on Thursday, February 27th. The company reported ($0.02) EPS for the quarter, beating 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 company had revenue of $445.17 billion for the quarter, compared to the consensus estimate of $454.83 million. As a group, analysts predict that Acushnet Holdings Corp. will post 3.06 earnings per share for the current fiscal year.

Acushnet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be given a $0.235 dividend. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from Acushnet’s previous quarterly dividend of $0.22. This represents a $0.94 annualized dividend and a dividend yield of 1.37%. Acushnet’s payout ratio is presently 28.23%.

Analysts Set New Price Targets

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

Institutional Trading of Acushnet

Large investors have recently made changes to their positions in the company. Principal Financial Group Inc. raised its position in Acushnet by 6.7% in the third quarter. Principal Financial Group Inc. now owns 1,013,857 shares of the company’s stock valued at $64,632,000 after purchasing an additional 63,294 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Acushnet during the 3rd quarter worth approximately $1,443,000. FMR LLC grew its holdings in Acushnet by 2.5% during the 3rd quarter. FMR LLC now owns 441,069 shares of the company’s stock worth $28,118,000 after acquiring an additional 10,762 shares during the last quarter. Tidal Investments LLC acquired a new position in Acushnet in the 3rd quarter valued at approximately $508,000. Finally, GSA Capital Partners LLP bought a new position in shares of Acushnet during the third quarter valued at $654,000. Institutional investors and hedge funds own 53.12% of the company’s stock.

Acushnet Company Profile

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.