Acushnet Holdings Corp. (NYSE:GOLF) Sees Significant Drop in Short Interest

Acushnet Holdings Corp. (NYSE:GOLF) was the recipient of a significant decline in short interest during the month of November. As of November 15th, there was short interest totalling 4,060,000 shares, a decline of 13.8% from the October 31st total of 4,710,000 shares. Based on an average daily volume of 299,700 shares, the days-to-cover ratio is presently 13.5 days. Approximately 14.4% of the shares of the stock are sold short.

Acushnet Trading Up 0.5 %

Acushnet stock opened at $73.48 on Tuesday. Acushnet has a one year low of $56.34 and a one year high of $76.38. The stock has a market cap of $4.47 billion, a PE ratio of 24.99 and a beta of 0.85. 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 stock has a 50-day moving average of $65.76 and a two-hundred day moving average of $65.64.

Acushnet (NYSE:GOLF) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.79 by $0.10. The business had revenue of $620.50 million during the quarter, compared to analysts’ expectations of $620.40 million. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.85 EPS. On average, research analysts anticipate that Acushnet will post 3.06 EPS 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 given a dividend of $0.215 per share. The ex-dividend date is Friday, December 6th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 1.17%. Acushnet’s dividend payout ratio (DPR) is 29.25%.

Insider Transactions 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 shares were sold at an average price of $73.91, for a total transaction of $369,550.00. Following the transaction, the insider now owns 88,710 shares in the company, valued at $6,556,556.10. The trade was a 5.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 54.60% of the company’s stock.

Hedge Funds Weigh In On Acushnet

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. increased its holdings in shares of Acushnet by 871.1% in the second quarter. Victory Capital Management Inc. now owns 991,627 shares of the company’s stock valued at $62,948,000 after purchasing an additional 889,515 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of Acushnet by 126.4% during the 1st quarter. Janus Henderson Group PLC now owns 36,470 shares of the company’s stock valued at $2,405,000 after acquiring an additional 20,360 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Acushnet in the third quarter valued at about $1,443,000. Raymond James & Associates increased its position in Acushnet by 0.9% during the third quarter. Raymond James & Associates now owns 466,099 shares of the company’s stock worth $29,714,000 after purchasing an additional 4,300 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in Acushnet by 6.7% during the second quarter. Envestnet Asset Management Inc. now owns 130,868 shares of the company’s stock worth $8,307,000 after purchasing an additional 8,248 shares during the period. 53.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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