Acushnet Holdings Corp. (NYSE:GOLF) Sees Large Increase in Short Interest

Acushnet Holdings Corp. (NYSE:GOLF) was the target of a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 5,730,000 shares, an increase of 5.1% from the October 15th total of 5,450,000 shares. Based on an average daily volume of 296,800 shares, the short-interest ratio is currently 19.3 days. Approximately 19.5% of the shares of the company are short sold.

Insider Activity

In other news, Director Holdings Corp. Fila sold 1,824,994 shares of the stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $54.80, for a total value of $100,009,671.20. Following the completion of the transaction, the director now owns 33,110,486 shares in the company, valued at approximately $1,814,454,632.80. The sale was disclosed in a filing with the SEC, which is available at this link. 54.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Creative Planning acquired a new position in shares of Acushnet during the second quarter worth about $355,000. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Acushnet in the 2nd quarter valued at approximately $246,000. Amica Mutual Insurance Co. increased its holdings in Acushnet by 18.8% during the second quarter. Amica Mutual Insurance Co. now owns 58,546 shares of the company’s stock worth $3,201,000 after buying an additional 9,281 shares during the last quarter. First Republic Investment Management Inc. raised its position in Acushnet by 10.5% during the first quarter. First Republic Investment Management Inc. now owns 64,483 shares of the company’s stock worth $3,285,000 after acquiring an additional 6,119 shares in the last quarter. Finally, Truist Financial Corp lifted its stake in Acushnet by 8.2% in the second quarter. Truist Financial Corp now owns 7,513 shares of the company’s stock valued at $411,000 after acquiring an additional 567 shares during the last quarter. Institutional investors and hedge funds own 53.12% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on GOLF shares. Morgan Stanley boosted their price target on shares of Acushnet from $59.00 to $60.00 and gave the company an “equal weight” rating in a research report on Friday, November 3rd. Compass Point upgraded Acushnet from a “neutral” rating to a “buy” rating and set a $60.00 target price for the company in a research note on Monday, October 30th. StockNews.com initiated coverage on shares of Acushnet in a research report on Thursday, October 5th. They set a “hold” rating on the stock. KeyCorp raised their price objective on shares of Acushnet from $61.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, August 4th. Finally, Jefferies Financial Group upgraded shares of Acushnet from a “hold” rating to a “buy” rating and upped their target price for the stock from $61.00 to $84.00 in a research report on Monday, August 21st. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $62.88.

Acushnet Trading Up 0.8 %

GOLF stock traded up $0.47 during midday trading on Friday, reaching $56.71. The company’s stock had a trading volume of 308,775 shares, compared to its average volume of 339,580. The business’s 50-day simple moving average is $53.86 and its 200-day simple moving average is $53.30. The company has a quick ratio of 0.59, a current ratio of 1.21 and a debt-to-equity ratio of 0.22. Acushnet has a 52 week low of $42.06 and a 52 week high of $61.98. The stock has a market cap of $3.71 billion, a PE ratio of 17.18 and a beta of 0.86.

Acushnet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be issued a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date is Thursday, November 30th. Acushnet’s dividend payout ratio (DPR) is currently 23.64%.

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.