Selling Buzz: Acushnet Holdings Corp. [GOLF] Director FILA Holdings Corp. sells 2,168,528 shares of the company


Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Acushnet Holdings Corp. shares valued at $100,001,018 were sold by FILA Holdings Corp. on Jan 23. At $46.11 per share, FILA Holdings Corp. sold 2,168,528 shares. The insider’s holdings dropped to 34,935,480 shares worth approximately $1.84 billion following the completion of this transaction.

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Also, Pelisek Steven Francis sold 17,209 shares, netting a total of over 773,028 in proceeds. Following the sale of shares at $44.92 each, the insider now holds 83,210 shares.

Before that, Pelisek Steven Francis had sold 31,989 shares from its account. In a trade valued at $1,398,239, the President-Titleist Golf Clubs traded Acushnet Holdings Corp. shares for $43.71 each. Upon closing the transaction, the insider’s holdings decreased to 31,989 shares, worth approximately $5.29 million.

As published in a research note from ROTH Capital on October 18, 2022, Acushnet Holdings Corp. [GOLF] has been rated down from a Buy to a Neutral and the price target has been revised to $45 from $62. This represents a -16.98% premium over Wednesday’s closing price. Earlier on January 18, 2022, Compass Point upgraded its rating. Their new recommendation was “a Buy” for GOLF stock which previously was a “a Neutral”.

Analyzing GOLF Stock Performance

On Wednesday, Acushnet Holdings Corp. [NYSE: GOLF] rose 9.08% to $52.64. The stock’s lowest price that day was $49.23, but it reached a high of $54.11 in the same session. During the last five days, there has been a surge of approximately 6.69%. Over the course of the year, Acushnet Holdings Corp. shares have jumped approximately 23.98%. Shares of the company reached a 52-week high of $54.11 on 03/01/23 and a 52-week low of $42.45 on 01/03/23. A 50-day SMA is recorded $46.68, while a 200-day SMA reached $45.84. Nevertheless, trading volume fell to 1.35 million shares from 0.27 million shares the previous day.

Support And Resistance Levels for Acushnet Holdings Corp. (GOLF)

According to the 24-hour chart, there is a support level at 49.88, which, if violated, would cause prices to drop to 47.11. In the upper region, resistance lies at 54.76. The next price resistance is at 56.87. RSI (Relative Strength Index) is 66.68 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.14, which suggests the price will decrease in the coming days. Percent R is at 25.09%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Acushnet Holdings Corp. subject to short interest?

Stocks of Acushnet Holdings Corp. saw a sharp rise in short interest on Jan 30, 2023 jumping by 0.83 million shares to 5.92 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 5.09 million shares. A jump of 14.02% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 15.02 of the overall float, the days-to-cover ratio (short ratio) jumped to 15.02.

Which companies own the most shares of Acushnet Holdings Corp. (GOLF)?

According to Kayne Anderson Rudnick Investment filings, the company currently owns 7,767,041 shares, which is about 11.06% of the total GOLF shares outstanding. The investor’s shares have plunged by -161,610 from its previous 13-F filing of 7928651.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $142,414,139. Wellington Management Co. LLP acquire a 10.38% interest valued at $135.52 million while BlackRock Fund Advisors sold a -30,488 stake. A total of 46,940 shares of Acushnet Holdings Corp. were sold by Dimensional Fund Advisors LP during the quarter, and -356,191 were sold by JPMorgan Investment Management, I. In its current portfolio, Macquarie Investment Management B holds 1,394,222 shares valued at $65.46 million.

In terms of Acushnet Holdings Corp. share price expectations, FactSet research, analysts set an average price target of $51.80 in the next 12 months, up nearly 7.75% from the previous closing price of $48.26. Analysts anticipate Acushnet Holdings Corp. stock to reach $61.00 by 2023, with the lowest price target being $46.00. In spite of this, 6 analysts ranked Acushnet Holdings Corp. stock as a Hold at the end of 2023. On April 28, 2021, Compass Point assigned a price target of “a Neutral” to the stock and upgraded coverage with a $42.


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