Acushnet Holdings Corp. (NYSE:GOLF) Short Interest Down 7.8% in October

Acushnet Holdings Corp. (NYSE:GOLF - Get Free Report) was the target of a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 4,710,000 shares, a decline of 7.8% from the October 15th total of 5,110,000 shares. Based on an average daily volume of 303,200 shares, the days-to-cover ratio is presently 15.5 days. Approximately 16.7% of the company's stock are sold short.

Analyst Upgrades and Downgrades

Several analysts have issued reports on GOLF shares. Compass Point dropped their price target on Acushnet from $78.00 to $76.00 and set a "buy" rating on the stock in a research note on Wednesday, August 7th. Truist Financial lifted their target price on Acushnet from $65.00 to $68.00 and gave the company a "hold" rating in a research report on Friday, November 8th. Finally, Jefferies Financial Group downgraded Acushnet from a "buy" rating to a "hold" rating and reduced their price target for the stock from $86.00 to $75.00 in a research report on Tuesday, September 17th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $71.40.

Acushnet Stock Down 1.3 %

Shares of NYSE:GOLF traded down $0.89 during trading on Monday, hitting $68.43. 231,297 shares of the company were exchanged, compared to its average volume of 313,418. Acushnet has a fifty-two week low of $55.74 and a fifty-two week high of $76.38. The stock has a market cap of $4.16 billion, a price-to-earnings ratio of 23.57 and a beta of 0.85. The company has a current ratio of 2.10, a quick ratio of 1.14 and a debt-to-equity ratio of 0.79. The firm has a fifty day moving average price of $64.05 and a two-hundred day moving average price of $65.00.

Acushnet (NYSE:GOLF - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.89 EPS for the quarter, beating analysts' consensus estimates of $0.79 by $0.10. The firm had revenue of $620.50 million during 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 company's revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.85 earnings per share. As a group, research analysts anticipate 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 paid a $0.215 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.86 annualized dividend and a yield of 1.26%. Acushnet's dividend payout ratio is 29.25%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in GOLF. Wedbush Securities Inc. lifted its holdings in Acushnet by 5.2% during the 2nd quarter. Wedbush Securities Inc. now owns 3,535 shares of the company's stock valued at $224,000 after purchasing an additional 176 shares during the last quarter. SkyView Investment Advisors LLC boosted its holdings in shares of Acushnet by 0.9% during the 2nd quarter. SkyView Investment Advisors LLC now owns 20,396 shares of the company's stock worth $1,295,000 after buying an additional 187 shares during the period. Azzad Asset Management Inc. ADV grew its stake in Acushnet by 2.0% in the 3rd quarter. Azzad Asset Management Inc. ADV now owns 10,221 shares of the company's stock valued at $652,000 after buying an additional 204 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in Acushnet by 8.1% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 3,478 shares of the company's stock valued at $221,000 after acquiring an additional 260 shares during the period. Finally, O Shaughnessy Asset Management LLC boosted its holdings in shares of Acushnet by 7.4% during the first quarter. O Shaughnessy Asset Management LLC now owns 3,898 shares of the company's stock worth $257,000 after acquiring an additional 269 shares during the period. 53.12% of the stock is currently 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.