Insider Selling: Acushnet Holdings Corp. (NYSE:GOLF) Director Sells 1,824,994 Shares of Stock

Acushnet Holdings Corp. (NYSE:GOLF) Director Holdings Corp. Fila sold 1,824,994 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $54.80, for a total value of $100,009,671.20. Following the completion of the transaction, the director now directly owns 33,110,486 shares in the company, valued at $1,814,454,632.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Acushnet Stock Performance

NYSE GOLF opened at $55.61 on Tuesday. The company has a 50-day simple moving average of $54.22 and a two-hundred day simple moving average of $53.04. Acushnet Holdings Corp. has a 12-month low of $42.06 and a 12-month high of $61.98. The firm has a market cap of $3.70 billion, a price-to-earnings ratio of 17.54 and a beta of 0.86. The company has a quick ratio of 1.29, a current ratio of 2.53 and a debt-to-equity ratio of 0.61.

Acushnet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a dividend of $0.195 per share. The ex-dividend date is Thursday, November 30th. This represents a $0.78 annualized dividend and a yield of 1.40%. Acushnet’s payout ratio is 24.61%.

Institutional Trading of Acushnet

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Olympiad Research LP purchased a new position in shares of Acushnet in the third quarter worth $233,000. Orion Portfolio Solutions LLC purchased a new stake in shares of Acushnet during the third quarter worth about $542,000. First Horizon Advisors Inc. grew its stake in shares of Acushnet by 43.3% in the third quarter. First Horizon Advisors Inc. now owns 711 shares of the company’s stock worth $38,000 after purchasing an additional 215 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Acushnet by 29.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,837 shares of the company’s stock valued at $416,000 after purchasing an additional 1,772 shares during the period. Finally, GW Henssler & Associates Ltd. bought a new position in Acushnet during the 3rd quarter valued at approximately $201,000. Institutional investors own 53.12% of the company’s stock.

Analyst Upgrades and Downgrades

GOLF has been the subject of several analyst reports. KeyCorp raised their target price on Acushnet from $61.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, August 4th. Morgan Stanley raised their target price on Acushnet from $59.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Friday. Compass Point raised Acushnet from a “neutral” rating to a “buy” rating and set a $60.00 price objective for the company in a report on Monday, October 30th. Truist Financial upped their price objective on shares of Acushnet from $50.00 to $55.00 and gave the company a “hold” rating in a report on Friday, August 4th. Finally, Roth Mkm reduced their target price on shares of Acushnet from $60.00 to $58.00 and set a “neutral” rating for the company in a research note on Friday. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $62.88.

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.