Acushnet Holdings Corp. (NYSE:GOLF – Get Rating) was the recipient of a large increase in short interest in the month of December. As of December 15th, there was short interest totaling 5,010,000 shares, a growth of 10.1% from the November 30th total of 4,550,000 shares. Currently, 16.2% of the shares of the company are sold short. Based on an average daily volume of 299,700 shares, the short-interest ratio is currently 16.7 days.
Acushnet Stock Performance
Shares of NYSE GOLF opened at $42.46 on Tuesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.10 and a current ratio of 2.17. The firm has a market cap of $2.98 billion, a price-to-earnings ratio of 17.92 and a beta of 0.75. The business’s 50-day simple moving average is $45.14 and its 200-day simple moving average is $46.03. Acushnet has a 52 week low of $37.46 and a 52 week high of $53.94.
Acushnet (NYSE:GOLF – Get Rating) last issued its quarterly earnings data on Thursday, November 3rd. The company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.13. The business had revenue of $558.20 million for the quarter, compared to analyst estimates of $517.42 million. Acushnet had a return on equity of 16.12% and a net margin of 7.80%. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.52 EPS. As a group, equities research analysts expect that Acushnet will post 2.69 earnings per share for the current fiscal year.
Acushnet Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, December 16th. Shareholders of record on Friday, December 2nd were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date was Thursday, December 1st. Acushnet’s dividend payout ratio (DPR) is currently 30.38%.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on GOLF. JPMorgan Chase & Co. dropped their price target on Acushnet from $50.00 to $47.00 in a research note on Wednesday, October 26th. Tigress Financial started coverage on Acushnet in a research note on Friday, September 16th. They issued a “neutral” rating and a $50.00 price target on the stock. Roth Capital downgraded shares of Acushnet from a “buy” rating to a “neutral” rating and cut their target price for the company from $62.00 to $45.00 in a research note on Tuesday, October 18th. Truist Financial decreased their target price on Acushnet from $50.00 to $48.00 and set a “hold” rating for the company in a research report on Wednesday, October 5th. Finally, Morgan Stanley dropped their price target on Acushnet from $52.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Monday, November 7th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $50.14.
Insider Buying and Selling at Acushnet
In other Acushnet news, insider Steven Francis Pelisek sold 700 shares of the business’s stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $44.00, for a total transaction of $30,800.00. Following the completion of the transaction, the insider now directly owns 132,408 shares of the company’s stock, valued at approximately $5,825,952. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 53.00% of the stock is currently owned by company insiders.
Institutional Trading of Acushnet
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GOLF. Nisa Investment Advisors LLC lifted its position in shares of Acushnet by 153.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 710 shares of the company’s stock worth $30,000 after buying an additional 430 shares during the period. Denali Advisors LLC raised its position in Acushnet by 47.2% in the 2nd quarter. Denali Advisors LLC now owns 101,300 shares of the company’s stock valued at $4,222,000 after purchasing an additional 32,500 shares during the last quarter. Walleye Capital LLC bought a new position in Acushnet in the 2nd quarter valued at $317,000. London Co. of Virginia raised its position in Acushnet by 1.3% in the 2nd quarter. London Co. of Virginia now owns 403,961 shares of the company’s stock valued at $16,837,000 after purchasing an additional 5,222 shares during the last quarter. Finally, Dark Forest Capital Management LP raised its position in Acushnet by 840.0% in the 2nd quarter. Dark Forest Capital Management LP now owns 705 shares of the company’s stock valued at $29,000 after purchasing an additional 630 shares during the last quarter. Institutional investors and hedge funds own 49.39% of the company’s stock.
Acushnet Company Profile
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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.
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