Acushnet Holdings Corp. (NYSE:GOLF) Short Interest Down 13.8% in November

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

Acushnet Stock Up 0.3 %

Shares of Acushnet stock opened at $73.11 on Friday. Acushnet has a 12-month low of $55.74 and a 12-month high of $76.38. The stock has a market capitalization of $4.45 billion, a P/E ratio of 24.87 and a beta of 0.85. The company has a quick ratio of 1.14, a current ratio of 2.10 and a debt-to-equity ratio of 0.79. The stock has a 50 day moving average price of $65.56 and a two-hundred day moving average price of $65.57.

Acushnet (NYSE:GOLF) last posted its quarterly earnings data 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. The business had revenue of $620.50 million during the quarter, compared to the consensus estimate of $620.40 million. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. Acushnet’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.85 EPS. Equities analysts expect that Acushnet will post 3.06 earnings per share for the current year.

Acushnet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors 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 annualized dividend and a dividend yield of 1.18%. Acushnet’s dividend payout ratio is presently 29.25%.

Analyst Ratings Changes

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

Insider Transactions at Acushnet

In other news, insider Christopher Aaron Lindner sold 5,000 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $73.91, for a total value of $369,550.00. Following the transaction, 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 legal filing with the SEC, which can be accessed through this link. 54.60% of the stock is owned by insiders.

Institutional Trading of Acushnet

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. grew its position in Acushnet by 8.2% in the 3rd quarter. Victory Capital Management Inc. now owns 1,072,692 shares of the company’s stock worth $68,384,000 after purchasing an additional 81,065 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Acushnet by 6.7% in the third quarter. Principal Financial Group Inc. now owns 1,013,857 shares of the company’s stock valued at $64,632,000 after buying an additional 63,294 shares during the period. Jane Street Group LLC grew its position in Acushnet by 702.1% during the third quarter. Jane Street Group LLC now owns 508,705 shares of the company’s stock worth $32,430,000 after buying an additional 445,281 shares in the last quarter. Raymond James & Associates increased its stake in Acushnet by 0.9% during the third quarter. Raymond James & Associates now owns 466,099 shares of the company’s stock valued at $29,714,000 after acquiring an additional 4,300 shares during the period. Finally, FMR LLC raised its holdings in Acushnet by 2.5% in the 3rd quarter. FMR LLC now owns 441,069 shares of the company’s stock valued at $28,118,000 after acquiring an additional 10,762 shares in the last quarter. Institutional investors and hedge funds 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.