Acushnet Holdings Corp (NYSE:GOLF) Short Interest Down 9.0% in October

Acushnet Holdings Corp (NYSE:GOLF) was the target of a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 2,630,000 shares, a decrease of 9.0% from the September 30th total of 2,890,000 shares. Currently, 7.7% of the shares of the stock are short sold. Based on an average daily volume of 193,800 shares, the days-to-cover ratio is currently 13.6 days.

GOLF has been the subject of a number of recent analyst reports. Wells Fargo & Co upped their price target on shares of Acushnet from $25.00 to $28.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 5th. Jefferies Financial Group upped their price target on shares of Acushnet from $27.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. SunTrust Banks set a $26.00 price target on shares of Acushnet and gave the stock a “hold” rating in a research report on Friday, November 1st. ValuEngine lowered shares of Acushnet from a “buy” rating to a “hold” rating in a research report on Thursday, September 26th. Finally, Zacks Investment Research upgraded shares of Acushnet from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a research report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $28.45.

Shares of NYSE:GOLF traded up $0.27 during midday trading on Friday, reaching $30.77. 103,701 shares of the company were exchanged, compared to its average volume of 247,103. The company has a current ratio of 1.95, a quick ratio of 1.06 and a debt-to-equity ratio of 0.33. The business’s fifty day moving average is $27.98 and its two-hundred day moving average is $26.29. Acushnet has a one year low of $20.24 and a one year high of $31.18. The stock has a market cap of $2.29 billion, a PE ratio of 20.20, a price-to-earnings-growth ratio of 3.86 and a beta of 0.98.

Acushnet (NYSE:GOLF) last issued its earnings results on Thursday, October 31st. The company reported $0.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.10. Acushnet had a net margin of 6.92% and a return on equity of 12.07%. The firm had revenue of $417.20 million during the quarter, compared to analyst estimates of $398.32 million. During the same quarter in the prior year, the business earned $0.09 earnings per share. Acushnet’s revenue for the quarter was up 12.6% on a year-over-year basis. As a group, sell-side analysts expect that Acushnet will post 1.58 EPS for the current year.

In other Acushnet news, insider Christopher Aaron Lindner sold 10,436 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $29.68, for a total value of $309,740.48. Following the completion of the transaction, the insider now directly owns 79,944 shares in the company, valued at $2,372,737.92. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 53.90% of the company’s stock.

Several large investors have recently modified their holdings of GOLF. Public Employees Retirement System of Ohio boosted its position in shares of Acushnet by 89.9% during the second quarter. Public Employees Retirement System of Ohio now owns 1,018 shares of the company’s stock worth $27,000 after acquiring an additional 482 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in Acushnet by 3,520.6% during the third quarter. Tower Research Capital LLC TRC now owns 1,231 shares of the company’s stock valued at $32,000 after purchasing an additional 1,197 shares during the last quarter. Bank of Montreal Can lifted its position in Acushnet by 790.6% during the second quarter. Bank of Montreal Can now owns 3,304 shares of the company’s stock valued at $86,000 after purchasing an additional 2,933 shares during the last quarter. Amica Retiree Medical Trust bought a new position in Acushnet during the second quarter valued at $109,000. Finally, Aperio Group LLC bought a new position in Acushnet during the second quarter valued at $135,000. Hedge funds and other institutional investors own 48.46% of the company’s stock.

About Acushnet

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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