Acushnet Holdings Corp. (NYSE:GOLF) Director Holdings Corp. Fila Sells 587,520 Shares

Acushnet Holdings Corp. (NYSE:GOLF) Director Holdings Corp. Fila sold 587,520 shares of the firm’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $63.83, for a total transaction of $37,501,401.60. Following the sale, the director now owns 32,522,966 shares in the company, valued at approximately $2,075,940,919.78. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Acushnet Trading Up 3.0 %

Shares of GOLF stock traded up $1.85 during mid-day trading on Thursday, reaching $62.76. The stock had a trading volume of 266,352 shares, compared to its average volume of 316,873. The firm has a market capitalization of $3.96 billion, a PE ratio of 21.56 and a beta of 0.85. The stock’s 50-day moving average price is $63.83 and its two-hundred day moving average price is $64.09. The company has a current ratio of 2.69, a quick ratio of 1.46 and a debt-to-equity ratio of 0.91. Acushnet Holdings Corp. has a 52-week low of $49.42 and a 52-week high of $70.10.

Acushnet (NYSE:GOLF) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.19. Acushnet had a return on equity of 20.65% and a net margin of 8.03%. The company had revenue of $707.55 million for the quarter, compared to the consensus estimate of $692.41 million. Equities analysts expect that Acushnet Holdings Corp. will post 3.12 earnings per share for the current fiscal year.

Acushnet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were paid a dividend of $0.215 per share. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date was Friday, June 7th. Acushnet’s payout ratio is 29.86%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. New Covenant Trust Company N.A. purchased a new position in Acushnet during the 1st quarter valued at about $27,000. Federated Hermes Inc. bought a new position in shares of Acushnet during the fourth quarter valued at approximately $32,000. Gladius Capital Management LP purchased a new position in shares of Acushnet during the fourth quarter valued at approximately $37,000. Principal Securities Inc. bought a new stake in shares of Acushnet in the 4th quarter worth approximately $37,000. Finally, Benjamin F. Edwards & Company Inc. grew its stake in shares of Acushnet by 101.9% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,159 shares of the company’s stock worth $76,000 after buying an additional 585 shares during the last quarter. Hedge funds and other institutional investors own 53.12% of the company’s stock.

Wall Street Analysts Forecast Growth

GOLF has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price target on Acushnet from $62.00 to $63.00 and gave the company a “neutral” rating in a research report on Tuesday, May 28th. Truist Financial raised their price objective on Acushnet from $62.00 to $63.00 and gave the company a “hold” rating in a report on Wednesday, May 8th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $66.38.

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.