Acushnet (NYSE:GOLF) Coverage Initiated at StockNews.com

Equities researchers at StockNews.com initiated coverage on shares of Acushnet (NYSE:GOLF – Get Rating) in a report issued on Thursday. The firm set a “hold” rating on the stock.

Several other brokerages also recently issued reports on GOLF. Tigress Financial raised Acushnet from a “neutral” rating to a “buy” rating and raised their price target for the company from $50.00 to $62.00 in a research report on Tuesday. Stephens lifted their target price on shares of Acushnet from $52.00 to $53.00 and gave the company an “equal weight” rating in a research note on Thursday, March 2nd. Morgan Stanley lifted their target price on shares of Acushnet from $50.00 to $54.00 and gave the company an “equal weight” rating in a research note on Friday, March 3rd. Finally, Compass Point cut shares of Acushnet from a “buy” rating to a “neutral” rating and cut their target price for the company from $65.00 to $55.00 in a research note on Tuesday. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $52.00.

Acushnet Price Performance

NYSE GOLF opened at $48.81 on Thursday. The firm has a market cap of $3.27 billion, a P/E ratio of 17.88 and a beta of 0.77. The stock’s 50-day moving average is $48.46 and its two-hundred day moving average is $46.64. Acushnet has a fifty-two week low of $37.46 and a fifty-two week high of $54.11. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.93 and a quick ratio of 0.70.

Insider Buying and Selling

In other Acushnet news, insider Thomas Pacheco sold 20,000 shares of Acushnet stock in a transaction on Monday, March 6th. The shares were sold at an average price of $51.92, for a total transaction of $1,038,400.00. Following the completion of the sale, the insider now owns 60,368 shares of the company’s stock, valued at approximately $3,134,306.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Acushnet news, Director Holdings Corp. Fila sold 2,168,528 shares of Acushnet stock in a transaction on Monday, January 23rd. The shares were sold at an average price of $46.11, for a total transaction of $99,990,826.08. Following the completion of the sale, the director now owns 34,935,480 shares of the company’s stock, valued at approximately $1,610,874,982.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Thomas Pacheco sold 20,000 shares of Acushnet stock in a transaction on Monday, March 6th. The stock was sold at an average price of $51.92, for a total transaction of $1,038,400.00. Following the sale, the insider now directly owns 60,368 shares of the company’s stock, valued at approximately $3,134,306.56. The disclosure for this sale can be found here. Insiders sold 2,203,528 shares of company stock worth $101,811,476 in the last quarter. Insiders own 53.00% of the company’s stock.

Hedge Funds Weigh In On Acushnet

Institutional investors and hedge funds have recently made changes to their positions in the company. Dark Forest Capital Management LP grew its holdings in shares of Acushnet by 840.0% in the 2nd quarter. Dark Forest Capital Management LP now owns 705 shares of the company’s stock valued at $29,000 after buying an additional 630 shares during the period. Federated Hermes Inc. acquired a new position in shares of Acushnet in the 3rd quarter valued at $30,000. Eagle Bay Advisors LLC acquired a new position in shares of Acushnet in the 2nd quarter valued at $49,000. Point72 Hong Kong Ltd acquired a new position in shares of Acushnet in the 2nd quarter valued at $57,000. Finally, FourThought Financial LLC grew its holdings in shares of Acushnet by 45.5% in the 3rd quarter. FourThought Financial LLC now owns 1,807 shares of the company’s stock valued at $79,000 after buying an additional 565 shares during the period. Institutional investors and hedge funds own 49.39% of the company’s stock.

Acushnet Company Profile

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Acushnet Holdings Corp. engages in the design, development, manufacture, and distribution of performance-driven golf products. It operates through the following segments: Titleist Golf Balls, Titleist Golf Clubs, Titleist Golf Gear, FootJoy Golf Wear, and Other. The Titleist Golf Balls segment is involved in the design and manufacture of golf balls.