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

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

Acushnet Price Performance

Shares of NYSE:GOLF traded up $0.03 during trading on Friday, hitting $68.40. 568,017 shares of the company were exchanged, compared to its average volume of 339,968. Acushnet has a 1-year low of $58.54 and a 1-year high of $76.65. The company has a market capitalization of $4.10 billion, a P/E ratio of 23.27 and a beta of 0.79. 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 business's 50 day moving average is $68.55 and its 200-day moving average is $67.58.

Acushnet (NYSE:GOLF - Get Free Report) last issued its earnings results on Thursday, February 27th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.33) by $0.31. The business had revenue of $445.17 billion during the quarter, compared to analysts' expectations of $454.83 million. Acushnet had a return on equity of 21.45% and a net margin of 7.78%. Equities analysts forecast that Acushnet will post 3.06 earnings per share for the current year.

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Acushnet Increases Dividend

The firm also recently declared 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. This is a boost from Acushnet's previous quarterly dividend of $0.22. This represents a $0.94 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend is Friday, March 7th. Acushnet's dividend payout ratio is 28.23%.

Analyst Ratings Changes

GOLF has been the subject of a number of analyst reports. StockNews.com upgraded shares of Acushnet from a "hold" rating to a "buy" rating in a research report on Friday, February 28th. KeyCorp dropped their price objective on Acushnet from $80.00 to $77.00 and set an "overweight" rating for the company in a report on Friday, February 28th. JPMorgan Chase & Co. lowered Acushnet from a "neutral" rating to an "underweight" rating and reduced their target price for the stock from $69.00 to $64.00 in a report on Thursday, January 23rd. Compass Point raised Acushnet from a "neutral" rating to a "buy" rating and boosted their price target for the company from $77.00 to $80.00 in a research note on Tuesday. Finally, Truist Financial upped their price objective on shares of Acushnet from $65.00 to $68.00 and gave the stock a "hold" rating in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $72.80.

Hedge Funds Weigh In On Acushnet

A number of hedge funds have recently modified their holdings of GOLF. Dimensional Fund Advisors LP raised its position in Acushnet by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,506,733 shares of the company's stock worth $107,097,000 after purchasing an additional 5,661 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Acushnet by 5.3% during the fourth quarter. JPMorgan Chase & Co. now owns 1,078,416 shares of the company's stock worth $76,654,000 after acquiring an additional 54,314 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Acushnet by 8.2% in the third quarter. Victory Capital Management Inc. now owns 1,072,692 shares of the company's stock worth $68,384,000 after acquiring an additional 81,065 shares during the period. Principal Financial Group Inc. boosted its holdings in Acushnet by 1.0% in the fourth quarter. Principal Financial Group Inc. now owns 1,024,023 shares of the company's stock valued at $72,783,000 after acquiring an additional 10,166 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Acushnet during the 4th quarter valued at approximately $62,713,000. Institutional investors and hedge funds own 53.12% of the company's stock.

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.