Insider Selling: Acushnet (NYSE:GOLF) Insider Sells 13,190 Shares of Stock

Key Points

• Insider Mary Louise Bohn sold 13,190 shares of Acushnet stock for a total value of $1,040,031.50, resulting in a 6.43% decrease in her position.
• Acushnet reported $1.25 earnings per share for the last quarter, missing the analysts' consensus estimate of $1.33, despite having revenue of $720.48 million.
• The company recently declared a quarterly dividend of $0.235, representing a 1.2% dividend yield, to be paid on September 19th.

Acushnet (NYSE:GOLF - Get Free Report) insider Mary Louise Bohn sold 13,190 shares of the stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $78.85, for a total transaction of $1,040,031.50. Following the transaction, the insider directly owned 191,786 shares of the company's stock, valued at $15,122,326.10. The trade was a 6.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Acushnet Trading Down 0.3%

Shares of NYSE:GOLF traded down $0.22 during mid-day trading on Wednesday, reaching $78.14. 11,013 shares of the company were exchanged, compared to its average volume of 474,691. The company has a debt-to-equity ratio of 1.13, a current ratio of 2.25 and a quick ratio of 1.21. The firm has a market cap of $4.58 billion, a price-to-earnings ratio of 20.88 and a beta of 0.84. The firm's 50-day simple moving average is $76.80 and its 200 day simple moving average is $69.84. Acushnet has a 1 year low of $55.31 and a 1 year high of $84.40.

Acushnet (NYSE:GOLF - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $1.25 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.08). Acushnet had a return on equity of 28.05% and a net margin of 9.24%.The firm had revenue of $720.48 million for the quarter, compared to analysts' expectations of $713.70 million. During the same quarter in the prior year, the business earned $1.11 earnings per share. The company's quarterly revenue was up 5.4% on a year-over-year basis. Equities research analysts forecast that Acushnet will post 3.06 EPS for the current year.

Acushnet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be issued a dividend of $0.235 per share. This represents a $0.94 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Friday, September 5th. Acushnet's dividend payout ratio (DPR) is 25.13%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GOLF. Public Employees Retirement System of Ohio acquired a new position in Acushnet in the fourth quarter valued at approximately $31,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Acushnet by 149.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 492 shares of the company's stock valued at $36,000 after buying an additional 295 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Acushnet by 83.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 540 shares of the company's stock valued at $39,000 after buying an additional 246 shares in the last quarter. Bessemer Group Inc. boosted its holdings in shares of Acushnet by 78.6% in the 2nd quarter. Bessemer Group Inc. now owns 575 shares of the company's stock valued at $42,000 after buying an additional 253 shares in the last quarter. Finally, KBC Group NV acquired a new position in shares of Acushnet in the 1st quarter valued at $44,000. 53.12% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on GOLF shares. Truist Financial lifted their price objective on shares of Acushnet from $64.00 to $65.00 and gave the company a "hold" rating in a report on Thursday, May 8th. KeyCorp boosted their target price on Acushnet from $80.00 to $85.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. Morgan Stanley boosted their price objective on Acushnet from $63.00 to $80.00 and gave the stock an "equal weight" rating in a research report on Friday, July 18th. Finally, Compass Point downgraded Acushnet from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $80.00 to $71.00 in a research report on Monday, May 5th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Acushnet currently has an average rating of "Hold" and a consensus target price of $73.33.

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.