Acushnet (NYSE:GOLF) Director Holdings Corp. Misto Sells 953,406 Shares

Acushnet (NYSE:GOLF - Get Free Report) Director Holdings Corp. Misto sold 953,406 shares of the business's stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $65.56, for a total value of $62,505,297.36. Following the completion of the transaction, the director owned 29,523,653 shares in the company, valued at approximately $1,935,570,690.68. This trade represents a 3.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Acushnet Stock Down 0.4%

Shares of NYSE GOLF traded down $0.29 during mid-day trading on Friday, reaching $77.96. The company had a trading volume of 280,972 shares, compared to its average volume of 398,096. Acushnet has a twelve month low of $55.31 and a twelve month high of $79.23. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.21 and a current ratio of 2.21. The stock has a market capitalization of $4.58 billion, a PE ratio of 21.66 and a beta of 0.84. The stock's 50 day moving average is $71.52 and its 200-day moving average is $68.27.

Acushnet (NYSE:GOLF - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $1.62 earnings per share for the quarter, topping analysts' consensus estimates of $1.32 by $0.30. Acushnet had a net margin of 9.21% and a return on equity of 26.81%. The business had revenue of $703.37 million for the quarter, compared to the consensus estimate of $697.82 million. During the same period in the prior year, the business posted $1.35 earnings per share. Acushnet's revenue for the quarter was down .6% compared to the same quarter last year. As a group, equities analysts anticipate that Acushnet will post 3.06 earnings per share for the current fiscal year.

Acushnet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were given a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a yield of 1.21%. The ex-dividend date was Friday, June 6th. Acushnet's payout ratio is 26.11%.

Institutional Investors Weigh In On Acushnet

Several hedge funds and other institutional investors have recently made changes to their positions in GOLF. Lord Abbett & CO. LLC acquired a new stake in shares of Acushnet in the fourth quarter valued at about $28,641,000. Vanguard Group Inc. lifted its stake in shares of Acushnet by 9.6% in the first quarter. Vanguard Group Inc. now owns 3,090,666 shares of the company's stock valued at $212,205,000 after buying an additional 269,742 shares during the period. Norges Bank bought a new stake in shares of Acushnet in the fourth quarter valued at about $14,825,000. Nuveen LLC bought a new stake in shares of Acushnet in the first quarter valued at about $9,376,000. Finally, Edgestream Partners L.P. bought a new stake in shares of Acushnet in the first quarter valued at about $6,020,000. 53.12% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on GOLF shares. KeyCorp reaffirmed an "overweight" rating and set a $80.00 target price (up from $75.00) on shares of Acushnet in a report on Friday, June 27th. Truist Financial increased their price objective on Acushnet from $64.00 to $65.00 and gave the stock a "hold" rating in a report on Thursday, May 8th. Finally, Compass Point lowered Acushnet from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $80.00 to $71.00 in a report on Monday, May 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $71.00.

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.