Steven Francis Pelisek Sells 20,000 Shares of Acushnet Holdings Corp. (NYSE:GOLF) Stock

Acushnet Holdings Corp. (NYSE:GOLF) insider Steven Francis Pelisek sold 20,000 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $70.86, for a total transaction of $1,417,200.00. Following the completion of the sale, the insider now directly owns 96,006 shares of the company’s stock, valued at $6,802,985.16. The trade was a 17.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Acushnet Trading Down 3.2 %

Acushnet stock opened at $68.42 on Wednesday. The company has a quick ratio of 1.14, a current ratio of 2.10 and a debt-to-equity ratio of 0.79. The firm has a 50-day moving average price of $68.46 and a two-hundred day moving average price of $67.65. The firm has a market capitalization of $4.10 billion, a price-to-earnings ratio of 23.27 and a beta of 0.79. Acushnet Holdings Corp. has a 52-week low of $58.54 and a 52-week high of $76.65.

Acushnet (NYSE:GOLF) last posted its earnings results on Thursday, February 27th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.31. The firm had revenue of $445.17 billion during the quarter, compared to analyst estimates of $454.83 million. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. Sell-side analysts expect that Acushnet Holdings Corp. will post 3.06 earnings per share for the current year.

Acushnet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be paid a dividend of $0.235 per share. This represents a $0.94 dividend on an annualized basis and a yield of 1.37%. This is a positive change from Acushnet’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, March 7th. Acushnet’s payout ratio is presently 28.23%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on GOLF shares. Compass Point raised shares of Acushnet from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $77.00 to $80.00 in a research report on Tuesday, March 4th. KeyCorp lowered their price objective on shares of Acushnet from $80.00 to $77.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. StockNews.com downgraded shares of Acushnet from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, JPMorgan Chase & Co. downgraded shares of Acushnet from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $69.00 to $64.00 in a research report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $72.80.

Institutional Trading of Acushnet

A number of institutional investors have recently made changes to their positions in GOLF. US Bancorp DE lifted its stake in shares of Acushnet by 8.2% in the 3rd quarter. US Bancorp DE now owns 9,897 shares of the company’s stock worth $631,000 after acquiring an additional 753 shares during the period. Atria Investments Inc lifted its stake in shares of Acushnet by 7.5% in the 3rd quarter. Atria Investments Inc now owns 23,622 shares of the company’s stock worth $1,506,000 after acquiring an additional 1,650 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of Acushnet in the 3rd quarter worth approximately $654,000. Victory Capital Management Inc. lifted its stake in shares of Acushnet by 8.2% in the 3rd quarter. Victory Capital Management Inc. now owns 1,072,692 shares of the company’s stock worth $68,384,000 after acquiring an additional 81,065 shares during the period. Finally, Lummis Asset Management LP lifted its stake in shares of Acushnet by 11.6% in the 3rd quarter. Lummis Asset Management LP now owns 34,497 shares of the company’s stock worth $2,199,000 after acquiring an additional 3,574 shares during the period. 53.12% of the stock is owned by institutional investors and hedge funds.

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.