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

Acushnet (NYSE:GOLF) insider Steven Francis Pelisek sold 20,000 shares of the firm’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $84.66, for a total transaction of $1,693,200.00. Following the completion of the transaction, the insider directly owned 76,006 shares of the company’s stock, valued at approximately $6,434,667.96. This represents a 20.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Acushnet Stock Performance

Shares of GOLF traded up $0.55 during trading hours on Wednesday, reaching $84.70. 358,546 shares of the company traded hands, compared to its average volume of 334,698. The company has a quick ratio of 1.30, a current ratio of 2.42 and a debt-to-equity ratio of 1.03. The business has a fifty day moving average price of $79.22 and a 200-day moving average price of $76.58. Acushnet has a 12-month low of $55.31 and a 12-month high of $85.95. The stock has a market capitalization of $4.97 billion, a P/E ratio of 23.14 and a beta of 0.90.

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

Acushnet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be issued a $0.235 dividend. This represents a $0.94 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, December 5th. Acushnet’s dividend payout ratio is 25.68%.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Acushnet

A number of large investors have recently added to or reduced their stakes in GOLF. Vanguard Group Inc. raised its position in shares of Acushnet by 9.6% during the 1st quarter. Vanguard Group Inc. now owns 3,090,666 shares of the company’s stock worth $212,205,000 after purchasing an additional 269,742 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Acushnet by 2.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,549,266 shares of the company’s stock worth $106,366,000 after buying an additional 42,533 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Acushnet by 6.7% during the first quarter. Wellington Management Group LLP now owns 1,310,965 shares of the company’s stock valued at $90,011,000 after acquiring an additional 82,247 shares during the last quarter. Raymond James Financial Inc. lifted its position in shares of Acushnet by 0.4% in the second quarter. Raymond James Financial Inc. now owns 952,453 shares of the company’s stock valued at $69,358,000 after acquiring an additional 4,243 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its position in shares of Acushnet by 238.0% in the third quarter. Fisher Asset Management LLC now owns 704,151 shares of the company’s stock valued at $55,269,000 after acquiring an additional 495,794 shares in the last quarter. 53.12% of the stock is currently owned by institutional investors and hedge funds.

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.