Short Interest in Acushnet Holdings Corp. (NYSE:GOLF) Rises By 40.6%

Acushnet Holdings Corp. (NYSE:GOLF) saw a significant increase in short interest in February. As of February 15th, there was short interest totalling 5,470,000 shares, an increase of 40.6% from the January 31st total of 3,890,000 shares. Approximately 19.9% of the company’s shares are short sold. Based on an average daily volume of 418,100 shares, the days-to-cover ratio is presently 13.1 days.

Hedge Funds Weigh In On Acushnet

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Creative Planning grew its position in Acushnet by 10.6% in the 3rd quarter. Creative Planning now owns 7,956 shares of the company’s stock valued at $507,000 after purchasing an additional 762 shares during the period. US Bancorp DE increased its position in shares of Acushnet by 8.2% during the third quarter. US Bancorp DE now owns 9,897 shares of the company’s stock worth $631,000 after acquiring an additional 753 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Acushnet by 9.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 6,078 shares of the company’s stock worth $387,000 after acquiring an additional 535 shares during the last quarter. Phillips Wealth Planners LLC bought a new position in Acushnet in the 3rd quarter valued at about $204,000. Finally, Cannon Global Investment Management LLC increased its holdings in Acushnet by 63.8% during the 3rd quarter. Cannon Global Investment Management LLC now owns 9,500 shares of the company’s stock worth $606,000 after purchasing an additional 3,700 shares in the last quarter. Institutional investors and hedge funds own 53.12% of the company’s stock.

Acushnet Stock Down 0.5 %

Shares of NYSE:GOLF traded down $0.31 during mid-day trading on Monday, reaching $63.99. 590,370 shares of the stock were exchanged, compared to its average volume of 552,962. The company has a market cap of $3.89 billion, a P/E ratio of 21.77 and a beta of 0.86. The stock’s 50 day simple moving average is $68.95 and its 200-day simple moving average is $67.61. The company has a quick ratio of 1.14, a current ratio of 2.10 and a debt-to-equity ratio of 0.79. Acushnet has a one year low of $58.54 and a one year high of $76.65.

Acushnet (NYSE:GOLF) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.31. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. The firm had revenue of $445.17 billion for the quarter, compared to analysts’ expectations of $454.83 million. As a group, equities research analysts predict that Acushnet will post 3.06 EPS for the current year.

Acushnet Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be given a $0.235 dividend. The ex-dividend date is Friday, March 7th. This represents a $0.94 dividend on an annualized basis and a yield of 1.47%. This is a positive change from Acushnet’s previous quarterly dividend of $0.22. Acushnet’s dividend payout ratio (DPR) is currently 25.83%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on GOLF. JPMorgan Chase & Co. cut shares of Acushnet from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $69.00 to $64.00 in a research report on Thursday, January 23rd. Truist Financial increased 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. StockNews.com upgraded Acushnet from a “hold” rating to a “buy” rating in a research report on Friday. Finally, KeyCorp dropped their target price on shares of Acushnet from $80.00 to $77.00 and set an “overweight” rating on the stock in a report on Friday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $72.00.

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.