U S Global Investors Inc. bought a new position in Callaway Golf Company (NYSE:ELY) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 83,000 shares of the company’s stock, valued at approximately $1,198,000. U S Global Investors Inc. owned approximately 0.09% of Callaway Golf as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors also recently made changes to their positions in ELY. Riverhead Capital Management LLC grew its position in Callaway Golf by 69.9% in the second quarter. Riverhead Capital Management LLC now owns 8,326 shares of the company’s stock worth $106,000 after acquiring an additional 3,426 shares in the last quarter. C M Bidwell & Associates Ltd. purchased a new position in Callaway Golf in the second quarter worth $109,000. Flinton Capital Management LLC grew its position in Callaway Golf by 71.6% in the second quarter. Flinton Capital Management LLC now owns 11,322 shares of the company’s stock worth $145,000 after acquiring an additional 4,726 shares in the last quarter. Amalgamated Bank grew its position in Callaway Golf by 1.3% in the second quarter. Amalgamated Bank now owns 12,821 shares of the company’s stock worth $164,000 after acquiring an additional 160 shares in the last quarter. Finally, Allianz Asset Management GmbH purchased a new position in Callaway Golf in the third quarter worth $182,000. Institutional investors own 88.16% of the company’s stock.
In related news, SVP Richard H. Arnett sold 8,070 shares of the stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $14.01, for a total value of $113,060.70. Following the completion of the transaction, the senior vice president now directly owns 5,000 shares of the company’s stock, valued at $70,050. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Anthony S. Thornley sold 7,000 shares of the stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $14.40, for a total transaction of $100,800.00. Following the completion of the transaction, the director now directly owns 47,034 shares of the company’s stock, valued at $677,289.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,850 shares of company stock valued at $437,772. 2.59% of the stock is owned by insiders.
ELY has been the subject of several recent research reports. KeyCorp reissued an “overweight” rating and issued a $16.00 price target on shares of Callaway Golf in a research note on Wednesday, August 30th. FBR & Co set a $16.00 price target on shares of Callaway Golf and gave the stock a “buy” rating in a research note on Thursday, October 26th. Zacks Investment Research raised shares of Callaway Golf from a “hold” rating to a “strong-buy” rating and set a $17.00 price target for the company in a research note on Friday, October 27th. B. Riley reissued a “buy” rating on shares of Callaway Golf in a research note on Wednesday, November 1st. Finally, Jefferies Group set a $19.00 price target on shares of Callaway Golf and gave the stock a “buy” rating in a research note on Thursday, October 26th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $15.67.
Shares of Callaway Golf Company (NYSE ELY) traded down $0.04 during trading hours on Monday, hitting $14.45. 722,600 shares of the stock traded hands, compared to its average volume of 988,325. The company has a market capitalization of $1,366.05, a P/E ratio of 28.33, a price-to-earnings-growth ratio of 1.89 and a beta of 1.12. Callaway Golf Company has a 52-week low of $9.93 and a 52-week high of $15.63.
Callaway Golf (NYSE:ELY) last issued its quarterly earnings data on Wednesday, October 25th. The company reported $0.05 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 firm had revenue of $243.60 million during the quarter, compared to the consensus estimate of $209.52 million. During the same period in the prior year, the firm posted ($0.06) earnings per share. The company’s quarterly revenue was up 29.7% compared to the same quarter last year. equities research analysts forecast that Callaway Golf Company will post 0.51 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 13th. Investors of record on Wednesday, November 22nd will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date is Tuesday, November 21st. Callaway Golf’s payout ratio is currently 2.09%.
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Callaway Golf Profile
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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