Acushnet Holdings Corp (NYSE:GOLF) saw a significant drop in short interest in the month of December. As of December 31st, there was short interest totalling 1,280,000 shares, a drop of 12.3% from the December 15th total of 1,460,000 shares. Approximately 3.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 230,000 shares, the short-interest ratio is currently 5.6 days.
In related news, insider Christopher Aaron Lindner sold 10,436 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $29.68, for a total transaction 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 available through this link. 53.90% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the company. Amundi Pioneer Asset Management Inc. increased its stake in Acushnet by 80.4% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 467,827 shares of the company’s stock worth $10,826,000 after acquiring an additional 208,527 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Acushnet by 790.6% in the second quarter. Bank of Montreal Can now owns 3,304 shares of the company’s stock valued at $86,000 after buying an additional 2,933 shares during the period. Charles Schwab Investment Management Inc. grew its position in Acushnet by 14.9% during the second quarter. Charles Schwab Investment Management Inc. now owns 257,293 shares of the company’s stock worth $6,757,000 after buying an additional 33,293 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Acushnet by 3.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 522,027 shares of the company’s stock worth $13,708,000 after acquiring an additional 15,940 shares during the period. Finally, Public Employees Retirement System of Ohio increased its stake in Acushnet by 89.9% during the 2nd 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 period. 48.66% of the stock is owned by institutional investors and hedge funds.
Acushnet (NYSE:GOLF) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 analysts’ expectations of $398.32 million. During the same period last year, the business earned $0.09 earnings per share. Acushnet’s revenue was up 12.6% compared to the same quarter last year. On average, equities research analysts anticipate that Acushnet will post 1.59 EPS for the current fiscal year.
A number of research analysts have issued reports on GOLF shares. Zacks Investment Research downgraded shares of Acushnet from a “buy” rating to a “hold” rating and set a $36.00 price objective on the stock. in a research report on Wednesday, January 1st. SunTrust Banks set a $26.00 target price on shares of Acushnet and gave the company a “hold” rating in a research report on Friday, November 1st. Jefferies Financial Group cut shares of Acushnet from a “buy” rating to a “hold” rating and set a $34.00 price objective for the company. in a research note on Monday, January 6th. They noted that the move was a valuation call. ValuEngine downgraded shares of Acushnet from a “hold” rating to a “sell” rating in a report on Tuesday, January 7th. Finally, Wells Fargo & Co raised their target price on shares of Acushnet from $25.00 to $28.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. Acushnet has an average rating of “Hold” and a consensus target price of $28.72.
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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