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

Acushnet Holdings Corp. (NYSE:GOLF) was the recipient 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 trading volume of 418,100 shares, the short-interest ratio is presently 13.1 days. Approximately 19.9% of the company’s stock are sold short.

Institutional Investors Weigh In On Acushnet

Large investors have recently made changes to their positions in the company. Blue Trust Inc. increased its holdings in shares of Acushnet by 100.6% in the fourth quarter. Blue Trust Inc. now owns 351 shares of the company’s stock worth $25,000 after purchasing an additional 176 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Acushnet in the fourth quarter worth about $31,000. Prospera Private Wealth LLC bought a new stake in shares of Acushnet in the third quarter worth about $41,000. Lazard Asset Management LLC bought a new stake in shares of Acushnet in the fourth quarter worth about $51,000. Finally, Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of Acushnet by 39.6% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 818 shares of the company’s stock worth $58,000 after purchasing an additional 232 shares during the last quarter. 53.12% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

GOLF has been the subject of a number of analyst reports. Truist Financial raised their price objective on Acushnet from $65.00 to $68.00 and gave the company a “hold” rating in a research report on Friday, November 8th. Compass Point upgraded Acushnet from a “neutral” rating to a “buy” rating and raised their price target for the stock from $77.00 to $80.00 in a research note on Tuesday. KeyCorp dropped their price target on Acushnet from $80.00 to $77.00 and set an “overweight” rating on the stock in a research note on Friday. StockNews.com upgraded Acushnet from a “hold” rating to a “buy” rating in a research note on Friday. Finally, JPMorgan Chase & Co. cut Acushnet from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $69.00 to $64.00 in a report on Thursday, January 23rd. 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 company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $72.80.

Acushnet Price Performance

NYSE:GOLF traded up $0.70 on Tuesday, reaching $64.82. 547,463 shares of the company’s stock traded hands, compared to its average volume of 337,798. 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 stock has a 50-day simple moving average of $68.82 and a 200-day simple moving average of $67.59. The firm has a market cap of $3.94 billion, a PE ratio of 22.05 and a beta of 0.86. Acushnet has a 12 month low of $58.54 and a 12 month high of $76.65.

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

Acushnet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be issued a $0.235 dividend. This represents a $0.94 annualized dividend and a dividend yield of 1.45%. This is a boost from Acushnet’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, March 7th. Acushnet’s payout ratio is 25.83%.

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.