Insider Selling: Acushnet (NYSE:GOLF) Director Sells 953,406 Shares of Stock

Acushnet (NYSE:GOLF - Get Free Report) Director Holdings Corp. Misto sold 953,406 shares of the company's stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $65.56, for a total value of $62,505,297.36. Following the transaction, the director owned 29,523,653 shares of the company's stock, valued at approximately $1,935,570,690.68. This represents a 3.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Acushnet Price Performance

Shares of Acushnet stock traded up $0.17 on Monday, hitting $78.19. The company's stock had a trading volume of 244,200 shares, compared to its average volume of 398,239. The company has a quick ratio of 1.21, a current ratio of 2.21 and a debt-to-equity ratio of 1.19. The firm has a fifty day moving average price of $71.52 and a 200-day moving average price of $68.23. The company has a market capitalization of $4.60 billion, a P/E ratio of 21.72 and a beta of 0.84. Acushnet has a 52-week low of $55.31 and a 52-week high of $79.23.

Acushnet (NYSE:GOLF - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.30. The company had revenue of $703.37 million during the quarter, compared to the consensus estimate of $697.82 million. Acushnet had a net margin of 9.21% and a return on equity of 26.81%. Acushnet's revenue for the quarter was down .6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.35 earnings per share. On average, equities research analysts expect that Acushnet will post 3.06 earnings per share for the current fiscal year.

Acushnet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were given a $0.235 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $0.94 dividend on an annualized basis and a yield of 1.20%. Acushnet's payout ratio is currently 26.11%.

Hedge Funds Weigh In On Acushnet

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. lifted its stake in Acushnet by 6.2% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 3,499 shares of the company's stock valued at $240,000 after buying an additional 203 shares during the last quarter. Heritage Family Offices LLP raised its position in shares of Acushnet by 7.4% during the 1st quarter. Heritage Family Offices LLP now owns 3,090 shares of the company's stock worth $212,000 after buying an additional 212 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Acushnet by 1.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,100 shares of the company's stock worth $1,144,000 after buying an additional 213 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its position in shares of Acushnet by 1.6% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 13,404 shares of the company's stock worth $953,000 after buying an additional 217 shares in the last quarter. Finally, Berry Wealth Group LP raised its position in shares of Acushnet by 8.0% during the 1st quarter. Berry Wealth Group LP now owns 3,075 shares of the company's stock worth $211,000 after buying an additional 229 shares in the last quarter. 53.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on GOLF. Truist Financial boosted their price objective on shares of Acushnet from $64.00 to $65.00 and gave the company a "hold" rating in a research report on Thursday, May 8th. KeyCorp reissued an "overweight" rating and issued a $80.00 target price (up from $75.00) on shares of Acushnet in a research report on Friday, June 27th. Finally, Compass Point cut shares of Acushnet from a "buy" rating to a "neutral" rating and cut their price objective for the company from $80.00 to $71.00 in a report on Monday, May 5th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Acushnet has an average 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.