Acushnet (NYSE:GOLF) CEO David Eugene Maher Sells 24,521 Shares

Acushnet (NYSE:GOLF) CEO David Eugene Maher sold 24,521 shares of the firm’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $79.77, for a total transaction of $1,956,040.17. Following the completion of the transaction, the chief executive officer directly owned 879,031 shares in the company, valued at approximately $70,120,302.87. This represents a 2.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Friday, November 14th, David Eugene Maher sold 26,939 shares of Acushnet stock. The stock was sold at an average price of $79.33, for a total transaction of $2,137,070.87.

Acushnet Stock Down 1.2%

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

Acushnet (NYSE:GOLF) last issued its quarterly earnings data 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 return on equity of 27.50% and a net margin of 8.80%.The company had revenue of $657.66 million for the quarter, compared to analyst estimates of $632.76 million. During the same quarter in the prior year, the firm earned $0.89 EPS. The company’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. Sell-side analysts anticipate that Acushnet will post 3.06 earnings per share for the current fiscal year.

Acushnet Dividend Announcement

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

Institutional Trading of Acushnet

Hedge funds and other institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. raised its stake in Acushnet by 2.0% during the third quarter. PNC Financial Services Group Inc. now owns 7,046 shares of the company’s stock valued at $553,000 after buying an additional 140 shares in the last quarter. Vestmark Advisory Solutions Inc. raised its position in shares of Acushnet by 0.3% during the 3rd quarter. Vestmark Advisory Solutions Inc. now owns 46,246 shares of the company’s stock valued at $3,630,000 after acquiring an additional 148 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its position in shares of Acushnet by 7.1% during the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 3,472 shares of the company’s stock valued at $253,000 after acquiring an additional 230 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its stake in Acushnet by 4.3% during the second quarter. Steward Partners Investment Advisory LLC now owns 5,618 shares of the company’s stock worth $409,000 after purchasing an additional 232 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Acushnet by 3.7% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,789 shares of the company’s stock worth $494,000 after purchasing an additional 241 shares during the period. 53.12% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

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.