Schwab Charles Investment Management Inc. boosted its holdings in shares of Callaway Golf Co (NYSE:ELY) by 14.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 505,001 shares of the company’s stock after acquiring an additional 62,633 shares during the quarter. Schwab Charles Investment Management Inc. owned about 0.53% of Callaway Golf worth $7,288,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Riverhead Capital Management LLC lifted its holdings in Callaway Golf by 69.9% during the 2nd quarter. Riverhead Capital Management LLC now owns 8,326 shares of the company’s stock worth $106,000 after buying an additional 3,426 shares during the last quarter. C M Bidwell & Associates Ltd. purchased a new stake in Callaway Golf during the 2nd quarter worth about $109,000. Flinton Capital Management LLC lifted its holdings in Callaway Golf by 71.6% during the 2nd quarter. Flinton Capital Management LLC now owns 11,322 shares of the company’s stock worth $145,000 after buying an additional 4,726 shares during the last quarter. Amalgamated Bank lifted its holdings in Callaway Golf by 1.3% during the 2nd quarter. Amalgamated Bank now owns 12,821 shares of the company’s stock worth $164,000 after buying an additional 160 shares during the last quarter. Finally, Cornerstone Capital Management Holdings LLC. purchased a new stake in Callaway Golf during the 2nd quarter worth about $194,000. Institutional investors and hedge funds own 88.62% of the company’s stock.
In related news, insider Jennifer L. Thomas sold 8,503 shares of the stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $14.95, for a total value of $127,119.85. Following the completion of the sale, the insider now directly owns 28,143 shares in the company, valued at approximately $420,737.85. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Anthony S. Thornley sold 7,000 shares of the stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $14.40, for a total value of $100,800.00. Following the completion of the sale, the director now owns 47,034 shares of the company’s stock, valued at $677,289.60. The disclosure for this sale can be found here. Insiders sold a total of 46,588 shares of company stock valued at $694,031 over the last quarter. 2.59% of the stock is currently owned by insiders.
A number of analysts have recently commented on the company. DA Davidson set a $18.00 price objective on Callaway Golf and gave the company a “buy” rating in a report on Wednesday, December 27th. Compass Point lowered Callaway Golf from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $15.06 to $13.50 in a report on Wednesday, December 27th. Zacks Investment Research lowered Callaway Golf from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th. Forward View reaffirmed a “hold” rating on shares of Callaway Golf in a report on Saturday, October 28th. Finally, KeyCorp set a $16.00 price target on Callaway Golf and gave the stock a “buy” rating in a research note on Saturday, October 21st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Callaway Golf has an average rating of “Buy” and a consensus target price of $15.82.
Shares of Callaway Golf Co (NYSE ELY) opened at $14.60 on Friday. Callaway Golf Co has a 52 week low of $9.93 and a 52 week high of $15.63. The stock has a market capitalization of $1,340.00, a P/E ratio of 7.64, a P/E/G ratio of 1.60 and a beta of 1.11.
Callaway Golf (NYSE:ELY) last issued its quarterly earnings results on Wednesday, October 25th. The company reported $0.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.09. The company had revenue of $243.60 million during the quarter, compared to the consensus estimate of $209.52 million. Callaway Golf had a return on equity of 7.88% and a net margin of 17.97%. Callaway Golf’s revenue was up 29.7% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.06) EPS. analysts predict that Callaway Golf Co will post 0.51 earnings per share for the current year.
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Callaway Golf Company 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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