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 firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $73.91, for a total transaction of $369,550.00. Following the completion of the sale, the insider now owns 88,710 shares in the company, valued at $6,556,556.10. The trade was a 5.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Acushnet Stock Performance

Shares of NYSE GOLF opened at $72.92 on Thursday. Acushnet Holdings Corp. has a 1 year low of $55.74 and a 1 year high of $76.38. The firm has a market cap of $4.43 billion, a P/E ratio of 25.33 and a beta of 0.85. The stock has a fifty day moving average price of $65.00 and a two-hundred day moving average price of $65.39. 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 (NYSE:GOLF) last announced its earnings results 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. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. The business had revenue of $620.50 million during the quarter, compared to analysts’ expectations of $620.40 million. During the same quarter last year, the business posted $0.85 earnings per share. The company’s quarterly revenue was up 4.6% on a year-over-year basis. Research analysts forecast that Acushnet Holdings Corp. will post 3.06 EPS for the current fiscal year.

Acushnet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid 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 dividend payout ratio is presently 29.25%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Wedbush Securities Inc. boosted its stake in shares of Acushnet by 5.2% during the 2nd quarter. Wedbush Securities Inc. now owns 3,535 shares of the company’s stock worth $224,000 after acquiring an additional 176 shares in the last quarter. SkyView Investment Advisors LLC boosted its position in shares of Acushnet by 0.9% in the 2nd quarter. SkyView Investment Advisors LLC now owns 20,396 shares of the company’s stock valued at $1,295,000 after purchasing an additional 187 shares during the period. Azzad Asset Management Inc. ADV increased its stake in Acushnet by 2.0% in the 3rd quarter. Azzad Asset Management Inc. ADV now owns 10,221 shares of the company’s stock worth $652,000 after purchasing an additional 204 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in Acushnet by 8.1% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 3,478 shares of the company’s stock worth $221,000 after buying an additional 260 shares during the period. Finally, O Shaughnessy Asset Management LLC lifted its stake in Acushnet by 7.4% during the first quarter. O Shaughnessy Asset Management LLC now owns 3,898 shares of the company’s stock valued at $257,000 after buying an additional 269 shares in the last quarter. Institutional investors and hedge funds own 53.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GOLF. Compass Point decreased their price objective on Acushnet from $78.00 to $76.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Truist Financial increased their price target on Acushnet from $65.00 to $68.00 and gave the stock a “hold” rating in a research note on Friday, November 8th. Finally, Jefferies Financial Group cut shares of Acushnet from a “buy” rating to a “hold” rating and cut their price objective for the company from $86.00 to $75.00 in a research note on Tuesday, September 17th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average 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.