U S Global Investors Inc. Buys New Stake in Callaway Golf Company (ELY)

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%.

TRADEMARK VIOLATION WARNING: “U S Global Investors Inc. Buys New Stake in Callaway Golf Company (ELY)” was first published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this news story on another publication, it was copied illegally and reposted in violation of United States & international copyright and trademark laws. The legal version of this news story can be viewed at https://www.dispatchtribunal.com/2017/12/11/u-s-global-investors-inc-buys-new-stake-in-callaway-golf-company-ely.html.

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.

Institutional Ownership by Quarter for Callaway Golf (NYSE:ELY)

Receive News & Ratings for Callaway Golf Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Callaway Golf Company and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply