Steven Francis Pelisek Sells 15,000 Shares of Acushnet (NYSE:GOLF) Stock

Acushnet (NYSE:GOLF) insider Steven Francis Pelisek sold 15,000 shares of the business’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $91.26, for a total transaction of $1,368,900.00. Following the completion of the transaction, the insider owned 70,512 shares in the company, valued at $6,434,925.12. This represents a 17.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Acushnet Stock Performance

Shares of GOLF stock opened at $88.92 on Friday. Acushnet has a 12 month low of $67.14 and a 12 month high of $104.81. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.87 and a quick ratio of 1.59. The firm has a market capitalization of $5.21 billion, a P/E ratio of 31.31 and a beta of 0.88. The company’s fifty day moving average price is $92.77 and its two-hundred day moving average price is $91.00.

Acushnet (NYSE:GOLF) last issued its earnings results on Wednesday, May 6th. The company reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.02). The company had revenue of $752.98 million during the quarter, compared to analyst estimates of $722.48 million. Acushnet had a net margin of 6.54% and a return on equity of 22.95%. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.62 EPS. On average, research analysts anticipate that Acushnet will post 3.82 earnings per share for the current fiscal year.

Acushnet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Friday, June 5th will be paid a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Friday, June 5th. Acushnet’s dividend payout ratio is 35.92%.

Institutional Investors Weigh In On Acushnet

A number of institutional investors have recently modified their holdings of GOLF. Royal Bank of Canada grew its position in shares of Acushnet by 6.6% during the 1st quarter. Royal Bank of Canada now owns 88,703 shares of the company’s stock valued at $6,090,000 after buying an additional 5,510 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Acushnet by 2.5% during the 1st quarter. AQR Capital Management LLC now owns 19,498 shares of the company’s stock valued at $1,339,000 after buying an additional 475 shares during the last quarter. Integrated Wealth Concepts LLC grew its position in shares of Acushnet by 13.5% during the 1st quarter. Integrated Wealth Concepts LLC now owns 4,603 shares of the company’s stock valued at $316,000 after buying an additional 548 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Acushnet by 2.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,560 shares of the company’s stock valued at $1,137,000 after buying an additional 460 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of Acushnet by 39.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 249,807 shares of the company’s stock valued at $17,152,000 after buying an additional 70,095 shares during the last quarter. Institutional investors own 53.12% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on GOLF shares. Roth Mkm set a $87.00 target price on shares of Acushnet in a research note on Thursday, May 7th. UBS Group set a $100.00 target price on shares of Acushnet in a research note on Thursday, February 26th. Truist Financial upped their target price on shares of Acushnet from $95.00 to $97.00 and gave the company a “hold” rating in a research note on Tuesday, May 19th. Zacks Research lowered shares of Acushnet from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Finally, Jefferies Financial Group restated a “hold” rating on shares of Acushnet in a research note on Thursday, February 26th. One research analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $94.17.

About Acushnet

Acushnet Holdings Corp., traded on the NYSE under the symbol GOLF, is a leading designer, manufacturer and marketer of golf equipment, footwear, apparel and accessories. The company’s portfolio encompasses a range of golf lifestyle products, with a focus on innovation, performance and quality for players of all skill levels.

At the core of Acushnet’s product lineup is the Titleist brand, globally recognized for its Tour-level golf balls and precision-engineered clubs. FootJoy offers golf shoes, gloves and apparel that blend comfort, style and technical performance, while Scotty Cameron putters and Vokey design wedges cater to players seeking exacting standards in feel and accuracy.