Should You Short Acushnet Holdings Corp. (GOLF)?

Diamond Hill Capital, an investment management company, released its “Long-Short Fund” fourth-quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the strategy trailed the Russell 1000 Index while leading the blended benchmark. The fund outperformed both indexes for the full year. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Diamond Hill Long-Short Fund highlighted stocks like Acushnet Holdings Corp. (NYSE:GOLF) in the Q4 2022 investor letter. Headquartered in Fairhaven, Massachusetts, Acushnet Holdings Corp. (NYSE:GOLF) is a golf products manufacturer. On March 29, 2023, Acushnet Holdings Corp. (NYSE:GOLF) stock closed at $49.34 per share. One-month return of Acushnet Holdings Corp. (NYSE:GOLF) was -7.17%, and its shares gained 22.55% of their value over the last 52 weeks. Acushnet Holdings Corp. (NYSE:GOLF) has a market capitalization of $3.314 billion.

Diamond Hill Long-Short Fund made the following comment about Acushnet Holdings Corp. (NYSE:GOLF) in its Q4 2022 investor letter:

“New positions initiated in Q4 included shorts International Business Machines (IBM), Acushnet Holdings Corp. (NYSE:GOLF) and elf Beauty (ELF). Acushnet (GOLF) is a leading manufacturer of golf equipment, accessories and apparel. The company owns several top brands in golf, including Titleist and FootJoy. Golf experienced heightened demand as consumers looked for socially distanced leisure activities over the last several years. We expect some of this enthusiasm — especially from newer golfers — to wane over the next couple years and for the average number of rounds per golfer to normalize from a high in 2021. We also believe some demand for equipment and apparel was likely pulled forward.”

Pixabay/Public Domain

Acushnet Holdings Corp. (NYSE:GOLF) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 13 hedge fund portfolios held Acushnet Holdings Corp. (NYSE:GOLF) at the end of the fourth quarter which was 12 in the previous quarter.

We discussed Acushnet Holdings Corp. (NYSE:GOLF) in another article and shared the list of best golf stocks to buy. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.