Citigroup Inc. decreased its position in Callaway Golf Company (NYSE:ELY) by 77.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,051 shares of the company’s stock after selling 68,622 shares during the quarter. Citigroup Inc.’s holdings in Callaway Golf were worth $256,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. GSA Capital Partners LLP increased its position in Callaway Golf by 297.4% in the second quarter. GSA Capital Partners LLP now owns 68,595 shares of the company’s stock worth $877,000 after buying an additional 51,335 shares in the last quarter. Menta Capital LLC purchased a new stake in shares of Callaway Golf during the second quarter worth about $396,000. UBS Asset Management Americas Inc. grew its position in shares of Callaway Golf by 10.7% during the second quarter. UBS Asset Management Americas Inc. now owns 35,892 shares of the company’s stock worth $459,000 after purchasing an additional 3,471 shares in the last quarter. Nicholas Investment Partners LP grew its position in shares of Callaway Golf by 9.6% during the second quarter. Nicholas Investment Partners LP now owns 354,607 shares of the company’s stock worth $4,531,000 after purchasing an additional 31,141 shares in the last quarter. Finally, New York State Common Retirement Fund grew its position in shares of Callaway Golf by 165.2% during the second quarter. New York State Common Retirement Fund now owns 333,367 shares of the company’s stock worth $4,260,000 after purchasing an additional 207,658 shares in the last quarter. Institutional investors and hedge funds own 89.50% of the company’s stock.
Callaway Golf Company (NYSE ELY) opened at 14.42 on Friday. The firm has a market cap of $1.36 billion, a PE ratio of 7.97 and a beta of 1.17. The stock has a 50 day moving average price of $14.15 and a 200 day moving average price of $13.02. Callaway Golf Company has a one year low of $9.77 and a one year high of $14.83.
Callaway Golf (NYSE:ELY) last posted its quarterly earnings data on Wednesday, October 25th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.09. Callaway Golf had a net margin of 17.97% and a return on equity of 7.88%. The business had revenue of $243.60 million during the quarter, compared to analysts’ expectations of $209.52 million. During the same period last year, the firm posted ($0.06) earnings per share. The business’s revenue was up 29.7% on a year-over-year basis. Equities research analysts expect that Callaway Golf Company will post $0.49 EPS for the current year.
ELY has been the subject of several analyst reports. Imperial Capital reaffirmed an “outperform” rating and issued a $16.00 price objective (up from $14.50) on shares of Callaway Golf in a research note on Wednesday, August 9th. Aegis reissued a “buy” rating on shares of Callaway Golf in a research note on Monday, September 4th. SunTrust Banks, Inc. raised their price target on Callaway Golf from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday. Zacks Investment Research raised Callaway Golf from a “hold” rating to a “strong-buy” rating and set a $17.00 target price for the company in a research report on Friday. Finally, Forward View lowered Callaway Golf to a “hold” rating and set a $14.00 target price for the company. in a research report on Saturday, August 5th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $15.67.
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In other Callaway Golf news, SVP Alan Hocknell sold 57,138 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $13.30, for a total value of $759,935.40. Following the completion of the sale, the senior vice president now owns 115,045 shares in the company, valued at approximately $1,530,098.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Oliver G. Brewer III sold 131,884 shares of the stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $13.31, for a total transaction of $1,755,376.04. Following the completion of the sale, the insider now owns 291,399 shares of the company’s stock, valued at approximately $3,878,520.69. The disclosure for this sale can be found here. In the last 90 days, insiders sold 295,893 shares of company stock valued at $4,016,299. 2.59% of the stock is owned by insiders.
About Callaway Golf
Callaway Golf Company designs, manufactures and sells golf clubs, golf balls, golf bags and other golf-related accessories. The Company has two segments: the golf clubs segment and golf balls segment. The golf clubs segment consists of its woods, hybrids, irons and wedges, and Odyssey putters. This segment also includes other golf-related accessories, royalties from licensing of its trademarks and service marks and sales of pre-owned golf clubs.
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