Key Points
- Acushnet insider Nicholas Mohamed sold 529 shares on June 11 at an average price of $95.00, totaling about $50,255. After the sale, he still owned 2,868 shares, a 15.57% reduction in his stake.
- The stock was trading lower, opening at $98.13 and down 1.3% on the day. Acushnet’s shares have ranged from $69.54 to $104.81 over the past year.
- Acushnet recently reported mixed quarterly results, with EPS of $1.36 missing estimates by $0.02, while revenue of $752.98 million came in above expectations and rose 7.1% year over year. The company also announced a quarterly dividend of $0.255 per share, or $1.02 annually.
Acushnet (NYSE:GOLF - Get Free Report) insider Nicholas Mohamed sold 529 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $95.00, for a total transaction of $50,255.00. Following the sale, the insider directly owned 2,868 shares of the company's stock, valued at approximately $272,460. This trade represents a 15.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Acushnet Trading Down 1.3%
Shares of GOLF opened at $98.13 on Friday. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.87 and a quick ratio of 1.59. Acushnet has a 1 year low of $69.54 and a 1 year high of $104.81. The company has a 50 day simple moving average of $92.75 and a two-hundred day simple moving average of $91.88. The firm has a market cap of $5.75 billion, a P/E ratio of 34.55 and a beta of 0.85.
Acushnet (NYSE:GOLF - Get Free Report) last announced its quarterly earnings data 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). Acushnet had a net margin of 6.54% and a return on equity of 22.95%. The company had revenue of $752.98 million for the quarter, compared to analysts' expectations of $722.48 million. During the same period last year, the business earned $1.62 earnings per share. The company's quarterly revenue was up 7.1% compared to the same quarter last year. On average, equities analysts expect that Acushnet will post 3.82 earnings per share for the current fiscal year.
Acushnet Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Friday, June 5th will be given a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, June 5th. Acushnet's dividend payout ratio is currently 35.92%.
Institutional Trading of Acushnet
A number of institutional investors have recently bought and sold shares of the stock. Oregon Public Employees Retirement Fund lifted its position in Acushnet by 1.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 6,300 shares of the company's stock worth $503,000 after buying an additional 100 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in Acushnet by 3.3% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 4,213 shares of the company's stock worth $336,000 after purchasing an additional 133 shares during the period. Steward Partners Investment Advisory LLC increased its stake in Acushnet by 2.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 5,779 shares of the company's stock worth $461,000 after purchasing an additional 135 shares during the period. PNC Financial Services Group Inc. increased its stake in Acushnet by 2.0% in the third quarter. PNC Financial Services Group Inc. now owns 7,046 shares of the company's stock worth $553,000 after purchasing an additional 140 shares during the period. Finally, Illinois Municipal Retirement Fund increased its stake in Acushnet by 1.0% in the first quarter. Illinois Municipal Retirement Fund now owns 15,021 shares of the company's stock worth $1,404,000 after purchasing an additional 142 shares during the period. 53.12% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on the company. Jefferies Financial Group reiterated a "hold" rating on shares of Acushnet in a research report on Thursday, February 26th. Truist Financial increased their target price on Acushnet from $95.00 to $97.00 and gave the company a "hold" rating in a research report on Tuesday, May 19th. Weiss Ratings downgraded Acushnet from a "buy (b)" rating to a "buy (b-)" rating in a research report on Wednesday, May 27th. UBS Group set a $100.00 target price on Acushnet in a research report on Thursday, February 26th. Finally, Roth Mkm set a $87.00 target price on Acushnet in a research report on Thursday, May 7th. One analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Acushnet presently has an average rating of "Hold" and a consensus target price of $94.17.
Read Our Latest Stock Report on Acushnet
Acushnet Company Profile
(
Get Free Report)
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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