Acushnet (NYSE:GOLF) Shares Gap Up – Here’s What Happened

Acushnet Holdings Corp. (NYSE:GOLF)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $63.83, but opened at $70.79. Acushnet shares last traded at $69.41, with a volume of 169,040 shares traded.

Analysts Set New Price Targets

A number of research firms recently weighed in on GOLF. Truist Financial upped their target price on shares of Acushnet from $65.00 to $68.00 and gave the stock a “hold” rating in a report on Friday, November 8th. JPMorgan Chase & Co. downgraded Acushnet from a “neutral” rating to an “underweight” rating and lowered their price objective for the stock from $69.00 to $64.00 in a research note on Thursday, January 23rd.

Acushnet Stock Performance

The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.14 and a current ratio of 2.10. The company’s 50 day moving average price is $70.61 and its 200-day moving average price is $67.84. The stock has a market cap of $4.12 billion, a P/E ratio of 23.02 and a beta of 0.86.

Insider Buying and Selling at Acushnet

In other Acushnet news, insider Christopher Aaron Lindner sold 5,000 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $73.91, for a total value of $369,550.00. Following the transaction, the insider now owns 88,710 shares of the company’s stock, valued at approximately $6,556,556.10. The trade was a 5.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 54.60% of the company’s stock.

Institutional Investors Weigh In On Acushnet

A number of hedge funds have recently made changes to their positions in the business. Principal Financial Group Inc. increased its holdings in Acushnet by 6.7% during the third quarter. Principal Financial Group Inc. now owns 1,013,857 shares of the company’s stock worth $64,632,000 after buying an additional 63,294 shares during the last quarter. FMR LLC increased its stake in shares of Acushnet by 2.5% during the 3rd quarter. FMR LLC now owns 441,069 shares of the company’s stock worth $28,118,000 after purchasing an additional 10,762 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Acushnet in the 3rd quarter worth approximately $1,443,000. Tidal Investments LLC purchased a new position in Acushnet in the third quarter valued at approximately $508,000. Finally, Raymond James & Associates grew its holdings in Acushnet by 0.9% during the third quarter. Raymond James & Associates now owns 466,099 shares of the company’s stock valued at $29,714,000 after purchasing an additional 4,300 shares during the period. 53.12% of the stock is currently owned by institutional investors.

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.