Acushnet (NYSE:GOLF) CEO David Eugene Maher Sells 26,939 Shares of Stock

Acushnet (NYSE:GOLF) CEO David Eugene Maher sold 26,939 shares of Acushnet stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $79.33, for a total transaction of $2,137,070.87. Following the transaction, the chief executive officer directly owned 852,092 shares of the company’s stock, valued at approximately $67,596,458.36. This represents a 3.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

David Eugene Maher also recently made the following trade(s):

• On Thursday, November 13th, David Eugene Maher sold 24,521 shares of Acushnet stock. The stock was sold at an average price of $79.77, for a total transaction of $1,956,040.17.

Acushnet Trading Down 1.2%

NYSE GOLF traded down $0.93 during trading on Monday, hitting $78.50. The stock had a trading volume of 240,312 shares, compared to its average volume of 437,575. Acushnet has a one year low of $55.31 and a one year high of $84.40. The stock has a 50 day simple moving average of $78.35 and a 200 day simple moving average of $75.87. The stock has a market capitalization of $4.61 billion, a price-to-earnings ratio of 21.45 and a beta of 0.90. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.30 and a current ratio of 2.42.

Acushnet (NYSE:GOLF) last released its earnings results on Wednesday, November 5th. The company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). Acushnet had a net margin of 8.80% and a return on equity of 27.50%. The business had revenue of $657.66 million for the quarter, compared to the consensus estimate of $632.76 million. During the same period in the prior year, the company posted $0.89 EPS. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. Acushnet has set its FY 2025 guidance at EPS. Sell-side analysts predict that Acushnet will post 3.06 earnings per share for the current year.

Acushnet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be paid a $0.235 dividend. The ex-dividend date is Friday, December 5th. This represents a $0.94 dividend on an annualized basis and a yield of 1.2%. Acushnet’s dividend payout ratio (DPR) is presently 25.68%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Acushnet in a research note on Wednesday, October 8th. Zacks Research cut shares of Acushnet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 21st. KeyCorp upped their target price on shares of Acushnet from $85.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Truist Financial lifted their price target on shares of Acushnet from $65.00 to $74.00 and gave the company a “hold” rating in a research note on Tuesday, November 4th. Finally, Roth Capital reiterated a “neutral” rating and issued a $80.00 price target on shares of Acushnet in a report on Thursday, November 6th. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $76.50.

Institutional Investors Weigh In On Acushnet

Several hedge funds have recently modified their holdings of the business. Brown Brothers Harriman & Co. boosted its stake in shares of Acushnet by 389.6% during the third quarter. Brown Brothers Harriman & Co. now owns 328 shares of the company’s stock valued at $26,000 after purchasing an additional 261 shares in the last quarter. Kelleher Financial Advisors purchased a new stake in Acushnet during the third quarter worth $28,000. EverSource Wealth Advisors LLC boosted its position in Acushnet by 149.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 492 shares of the company’s stock valued at $36,000 after acquiring an additional 295 shares in the last quarter. Nisa Investment Advisors LLC increased 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 acquiring an additional 246 shares during the period. Finally, Bessemer Group Inc. increased 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 acquiring an additional 253 shares during the period. Hedge funds and other 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.