Acushnet Holdings Corp. (NYSE:GOLF) Short Interest Down 7.8% in October

Acushnet Holdings Corp. (NYSE:GOLF) was the target of a significant decrease in short interest in October. As of October 31st, there was short interest totalling 4,710,000 shares, a decrease of 7.8% from the October 15th total of 5,110,000 shares. Approximately 16.7% of the company’s stock are short sold. Based on an average trading volume of 303,200 shares, the short-interest ratio is currently 15.5 days.

Hedge Funds Weigh In On Acushnet

Several institutional investors have recently modified their holdings of the business. New Covenant Trust Company N.A. purchased a new position in Acushnet in the first quarter worth $27,000. Brown Lisle Cummings Inc. bought a new stake in shares of Acushnet during the 3rd quarter worth $40,000. Prospera Private Wealth LLC purchased a new position in shares of Acushnet in the 3rd quarter worth about $41,000. nVerses Capital LLC bought a new position in Acushnet during the third quarter valued at about $57,000. Finally, Quarry LP increased its holdings in Acushnet by 745.6% during the third quarter. Quarry LP now owns 1,057 shares of the company’s stock worth $67,000 after buying an additional 932 shares during the last quarter. 53.12% of the stock is owned by institutional investors.

Acushnet Trading Down 1.3 %

Shares of Acushnet stock opened at $68.43 on Tuesday. The company has a market capitalization of $4.16 billion, a P/E ratio of 23.57 and a beta of 0.85. The stock has a fifty day simple moving average of $64.05 and a 200 day simple moving average of $65.00. Acushnet has a 12-month low of $55.74 and a 12-month high of $76.38. The company has a current ratio of 2.10, a quick ratio of 1.14 and a debt-to-equity ratio of 0.79.

Acushnet (NYSE:GOLF) last posted its earnings results on Thursday, November 7th. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.10. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. The firm had revenue of $620.50 million during the quarter, compared to analyst estimates of $620.40 million. During the same quarter in the prior year, the business posted $0.85 EPS. The business’s revenue was up 4.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Acushnet will post 3.06 earnings per share for the current fiscal year.

Acushnet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a $0.215 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.26%. Acushnet’s payout ratio is presently 29.25%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on GOLF shares. Compass Point decreased their price objective on Acushnet from $78.00 to $76.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Jefferies Financial Group downgraded shares of Acushnet from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $86.00 to $75.00 in a report on Tuesday, September 17th. Finally, Truist Financial lifted their price objective on shares of Acushnet from $65.00 to $68.00 and gave the company a “hold” rating in a report on Friday, November 8th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $71.40.

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.