Acushnet (NYSE:GOLF – Get Free Report) insider Nicholas Mohamed sold 529 shares of the company’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $95.00, for a total transaction of $50,255.00. Following the transaction, the insider owned 2,868 shares of the company’s stock, valued at approximately $272,460. This trade represents a 15.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Acushnet Stock Down 1.3%
GOLF opened at $98.13 on Friday. Acushnet has a twelve month low of $69.54 and a twelve month high of $104.81. The company has a quick ratio of 1.59, a current ratio of 2.87 and a debt-to-equity ratio of 1.36. The company has a 50-day moving average price of $92.75 and a 200 day moving average price of $91.88. The company has a market cap of $5.75 billion, a PE ratio of 34.55 and a beta of 0.85.
Acushnet (NYSE:GOLF – Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported $1.36 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.02). The business 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 firm’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.62 EPS. Sell-side analysts expect that Acushnet will post 3.82 earnings per share for the current fiscal year.
Acushnet Dividend Announcement
Analyst Upgrades and Downgrades
GOLF has been the subject of several recent research reports. Weiss Ratings cut shares of Acushnet from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, May 27th. Truist Financial raised their price objective on shares of Acushnet from $95.00 to $97.00 and gave the company a “hold” rating in a report on Tuesday, May 19th. Roth Mkm set a $87.00 price objective on shares of Acushnet in a report on Thursday, May 7th. Zacks Research lowered shares of Acushnet from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th. Finally, Jefferies Financial Group restated a “hold” rating on shares of Acushnet in a report on Thursday, February 26th. One research analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $94.17.
View Our Latest Research Report on Acushnet
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of GOLF. Millstone Evans Group LLC grew its position in Acushnet by 170.2% during the 1st quarter. Millstone Evans Group LLC now owns 281 shares of the company’s stock worth $26,000 after purchasing an additional 177 shares during the last quarter. Brown Brothers Harriman & Co. grew its position in Acushnet by 389.6% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 328 shares of the company’s stock worth $26,000 after purchasing an additional 261 shares during the last quarter. Kelleher Financial Advisors purchased a new position in Acushnet during the 3rd quarter worth $28,000. EverSource Wealth Advisors LLC grew its position in Acushnet by 149.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 492 shares of the company’s stock worth $36,000 after purchasing an additional 295 shares during the last quarter. Finally, Allworth Financial LP boosted its holdings in shares of Acushnet by 57.3% in the third quarter. Allworth Financial LP now owns 505 shares of the company’s stock valued at $40,000 after acquiring an additional 184 shares in the last quarter. 53.12% of the stock is owned by hedge funds and other institutional investors.
Acushnet Company Profile
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.
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