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 business's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $78.85, for a total value of $1,040,031.50. Following the completion of the transaction, the insider directly owned 191,786 shares of the company's stock, valued at approximately $15,122,326.10. This trade represents a 6.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Acushnet Price Performance

Acushnet stock traded down $0.1620 during trading hours on Wednesday, reaching $78.1980. 363,966 shares of the stock were exchanged, compared to its average volume of 413,250. The company has a current ratio of 2.25, a quick ratio of 1.21 and a debt-to-equity ratio of 1.13. Acushnet has a twelve month low of $55.31 and a twelve month high of $84.40. The company has a market cap of $4.59 billion, a P/E ratio of 20.91 and a beta of 0.84. The stock has a 50 day moving average of $76.91 and a two-hundred day moving average of $69.90.

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

Acushnet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, September 5th will be paid a $0.235 dividend. The ex-dividend date is Friday, September 5th. This represents a $0.94 annualized dividend and a dividend yield of 1.2%. Acushnet's dividend payout ratio (DPR) is presently 25.13%.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in GOLF. Legal & General Group Plc grew its holdings in Acushnet by 1.7% during the 4th quarter. Legal & General Group Plc now owns 38,124 shares of the company's stock worth $2,710,000 after acquiring an additional 621 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Acushnet by 93.1% during the fourth quarter. Renaissance Technologies LLC now owns 19,693 shares of the company's stock worth $1,400,000 after purchasing an additional 9,493 shares during the period. Barclays PLC grew its stake in shares of Acushnet by 34.4% in the fourth quarter. Barclays PLC now owns 65,252 shares of the company's stock worth $4,638,000 after purchasing an additional 16,689 shares during the last quarter. Mariner LLC increased its holdings in Acushnet by 40.7% in the fourth quarter. Mariner LLC now owns 13,726 shares of the company's stock valued at $975,000 after purchasing an additional 3,972 shares during the period. Finally, XTX Topco Ltd bought a new position in Acushnet during the 4th quarter worth $419,000. Institutional investors own 53.12% of the company's stock.

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.