Acushnet (NYSE:GOLF) Shares Gap Up – Should You Buy?

Acushnet Holdings Corp. (NYSE:GOLF) shares 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 trading hands.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. lowered Acushnet from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $69.00 to $64.00 in a research report on Thursday, January 23rd. Truist Financial boosted 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.

Acushnet Stock Up 7.1 %

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 has a market cap of $4.16 billion, a P/E ratio of 23.30 and a beta of 0.86. The business’s fifty day moving average is $71.04 and its two-hundred day moving average is $67.90.

Insiders Place Their Bets

In other Acushnet news, insider Christopher Aaron Lindner sold 5,000 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $73.91, for a total transaction of $369,550.00. Following the completion of the sale, the insider now directly owns 88,710 shares of the company’s stock, valued at approximately $6,556,556.10. This represents a 5.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 54.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Acushnet

Hedge funds and other institutional investors have recently bought and sold shares of the company. Blue Trust Inc. increased its position in shares of Acushnet by 100.6% during the fourth quarter. Blue Trust Inc. now owns 351 shares of the company’s stock worth $25,000 after purchasing an additional 176 shares in the last quarter. Brown Lisle Cummings Inc. purchased a new position in Acushnet during the 3rd quarter worth $40,000. Prospera Private Wealth LLC purchased a new position in Acushnet during the 3rd quarter worth $41,000. nVerses Capital LLC acquired a new position in Acushnet during the 3rd quarter valued at about $57,000. Finally, Quarry LP boosted its holdings in Acushnet by 745.6% in the third quarter. Quarry LP now owns 1,057 shares of the company’s stock worth $67,000 after acquiring an additional 932 shares in the last quarter. Hedge funds and other institutional investors own 53.12% of the company’s stock.

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.