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

Acushnet Holdings Corp. (NYSE:GOLF - Get Free Report) saw a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 4,060,000 shares, a drop of 13.8% from the October 31st total of 4,710,000 shares. Currently, 14.4% of the company's shares are short sold. Based on an average daily trading volume, of 299,700 shares, the days-to-cover ratio is currently 13.5 days.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on GOLF shares. Compass Point cut their price target on Acushnet from $78.00 to $76.00 and set a "buy" rating on the stock in a report on Wednesday, August 7th. Jefferies Financial Group cut Acushnet from a "buy" rating to a "hold" rating and cut their target price for the stock from $86.00 to $75.00 in a report on Tuesday, September 17th. Finally, Truist Financial boosted 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. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $71.40.

Insider Activity

In other news, insider Christopher Aaron Lindner sold 5,000 shares of the stock in a transaction dated 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 of the company's stock, valued at $6,556,556.10. This represents a 5.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 54.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of GOLF. Franklin Resources Inc. grew its position in Acushnet by 2.5% during the third quarter. Franklin Resources Inc. now owns 22,831 shares of the company's stock valued at $1,455,000 after buying an additional 548 shares during the period. Tidal Investments LLC bought a new position in shares of Acushnet during the 3rd quarter valued at approximately $508,000. SkyView Investment Advisors LLC increased its stake in shares of Acushnet by 1.8% during the 3rd quarter. SkyView Investment Advisors LLC now owns 20,772 shares of the company's stock worth $1,324,000 after purchasing an additional 376 shares during the last quarter. Virtu Financial LLC raised its holdings in shares of Acushnet by 152.6% in the 3rd quarter. Virtu Financial LLC now owns 8,163 shares of the company's stock worth $520,000 after purchasing an additional 4,931 shares during the period. Finally, Barclays PLC lifted its stake in Acushnet by 361.5% in the third quarter. Barclays PLC now owns 48,563 shares of the company's stock valued at $3,096,000 after purchasing an additional 38,041 shares during the last quarter. Institutional investors own 53.12% of the company's stock.

Acushnet Stock Up 0.3 %

Shares of GOLF stock traded up $0.19 during trading hours on Friday, reaching $73.11. The company had a trading volume of 108,063 shares, compared to its average volume of 317,489. The business has a fifty day simple moving average of $65.56 and a 200-day simple moving average of $65.57. Acushnet has a 12 month low of $55.74 and a 12 month high of $76.38. The company has a market cap of $4.45 billion, a price-to-earnings ratio of 24.87 and a beta of 0.85. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.10 and a quick ratio of 1.14.

Acushnet (NYSE:GOLF - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.10. The business had revenue of $620.50 million for 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 firm's revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.85 earnings per share. On average, research analysts expect that Acushnet will post 3.06 earnings per share for the current fiscal year.

Acushnet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a $0.215 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.86 annualized dividend and a yield of 1.18%. Acushnet's dividend payout ratio is currently 29.25%.

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.