Insider Selling: Acushnet Holdings Corp. (NYSE:GOLF) Director Sells $71,250,900.00 in Stock

Acushnet Holdings Corp. (NYSE:GOLF) Director Holdings Corp. Fila sold 1,110,000 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $64.19, for a total transaction of $71,250,900.00. Following the completion of the transaction, the director now owns 31,412,966 shares of the company’s stock, valued at approximately $2,016,398,287.54. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Holdings Corp. Fila also recently made the following trade(s):

• On Wednesday, July 10th, Holdings Corp. Fila sold 587,520 shares of Acushnet stock. The stock was sold at an average price of $63.83, for a total transaction of $37,501,401.60.

Acushnet Stock Performance

GOLF opened at $65.77 on Thursday. The business has a fifty day simple moving average of $65.88 and a 200-day simple moving average of $64.87. The firm has a market cap of $4.15 billion, a PE ratio of 22.84 and a beta of 0.85. The company has a quick ratio of 1.46, a current ratio of 2.69 and a debt-to-equity ratio of 0.91. Acushnet Holdings Corp. has a fifty-two week low of $49.42 and a fifty-two week high of $74.77.

Acushnet (NYSE:GOLF) last released its quarterly earnings results on Tuesday, August 6th. The company reported $1.11 earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.09). The company had revenue of $683.90 million during the quarter, compared to analyst estimates of $709.83 million. Acushnet had a net margin of 8.03% and a return on equity of 20.65%. The company’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter last year, the business earned $1.09 EPS. As a group, equities analysts predict that Acushnet Holdings Corp. will post 3.12 EPS for the current fiscal year.

Acushnet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be issued a dividend of $0.215 per share. The ex-dividend date is Friday, September 6th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.31%. Acushnet’s dividend payout ratio is currently 29.86%.

Institutional Trading of Acushnet

Several large investors have recently added to or reduced their stakes in the company. Sei Investments Co. boosted its position in shares of Acushnet by 29.0% in the first quarter. Sei Investments Co. now owns 96,624 shares of the company’s stock worth $6,372,000 after buying an additional 21,730 shares during the period. Capstone Investment Advisors LLC purchased a new position in Acushnet during the 1st quarter valued at about $2,026,000. Seven Eight Capital LP acquired a new position in shares of Acushnet in the 4th quarter valued at about $1,363,000. Strs Ohio purchased a new stake in shares of Acushnet in the fourth quarter worth approximately $890,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of Acushnet during the fourth quarter worth approximately $9,318,000. 53.12% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Truist Financial upped their target price on Acushnet from $63.00 to $65.00 and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Compass Point cut 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. Finally, JPMorgan Chase & Co. raised their target price on Acushnet from $62.00 to $63.00 and gave the company a “neutral” rating in a research note on Tuesday, May 28th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $68.63.

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.