Acushnet Holdings Corp. (NYSE:GOLF) Short Interest Update

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

Analysts Set New Price Targets

GOLF has been the topic of a number of research reports. Jefferies Financial Group lowered Acushnet from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $86.00 to $75.00 in a research report on Tuesday, September 17th. Truist Financial boosted their price target on Acushnet from $65.00 to $68.00 and gave the stock a “hold” rating in a report on Friday, November 8th. Finally, Compass Point dropped 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. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Acushnet presently has an average rating of “Hold” and a consensus price target of $71.40.

Acushnet Stock Down 1.3 %

Shares of GOLF opened at $68.43 on Tuesday. The company has a market capitalization of $4.16 billion, a PE ratio of 23.57 and a beta of 0.85. The stock’s 50-day moving average price is $64.05 and its two-hundred day moving average price is $65.00. 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 has a 12 month low of $55.74 and a 12 month high of $76.38.

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

Acushnet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders 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 yield of 1.26%. Acushnet’s dividend payout ratio (DPR) is currently 29.25%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. New Covenant Trust Company N.A. bought a new stake in Acushnet in the first quarter worth approximately $27,000. Brown Lisle Cummings Inc. acquired a new stake in shares of Acushnet during the 3rd quarter worth approximately $40,000. Prospera Private Wealth LLC bought a new stake in shares of Acushnet in the 3rd quarter valued at $41,000. nVerses Capital LLC bought a new position in Acushnet during the third quarter worth $57,000. Finally, Quarry LP grew 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 purchasing an additional 932 shares during the period. 53.12% of the stock is 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.