Augustine Asset Management Inc. reduced its position in Callaway Golf Co (NYSE:ELY) by 7.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 99,210 shares of the company’s stock after selling 7,979 shares during the period. Callaway Golf comprises about 1.0% of Augustine Asset Management Inc.’s holdings, making the stock its 29th largest position. Augustine Asset Management Inc. owned approximately 0.10% of Callaway Golf worth $1,580,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund bought a new stake in shares of Callaway Golf during the 4th quarter worth about $34,000. Massey Quick Simon & CO. LLC boosted its stake in shares of Callaway Golf by 50.0% during the 4th quarter. Massey Quick Simon & CO. LLC now owns 2,383 shares of the company’s stock worth $36,000 after acquiring an additional 794 shares in the last quarter. Pearl River Capital LLC bought a new stake in shares of Callaway Golf during the 4th quarter worth about $74,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Callaway Golf by 26.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,523 shares of the company’s stock worth $100,000 after acquiring an additional 1,376 shares in the last quarter. Finally, Quantamental Technologies LLC bought a new stake in shares of Callaway Golf during the 4th quarter worth about $137,000. Institutional investors own 91.64% of the company’s stock.

ELY traded down $0.04 during mid-day trading on Thursday, reaching $16.50. The stock had a trading volume of 1,218,474 shares, compared to its average volume of 1,055,894. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of 15.42, a PEG ratio of 0.66 and a beta of 1.04. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.62 and a current ratio of 1.73. Callaway Golf Co has a 52 week low of $14.44 and a 52 week high of $24.67.

Callaway Golf (NYSE:ELY) last posted its quarterly earnings results on Wednesday, February 6th. The company reported ($0.32) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.32). The business had revenue of $181.00 million for the quarter, compared to analyst estimates of $176.35 million. Callaway Golf had a return on equity of 14.01% and a net margin of 8.43%. The firm’s revenue was down 5.7% on a year-over-year basis. During the same period last year, the company earned ($0.15) EPS. As a group, research analysts forecast that Callaway Golf Co will post 1 EPS for the current year.

Several analysts recently weighed in on ELY shares. Berenberg Bank started coverage on Callaway Golf in a research note on Wednesday, February 13th. They set a “buy” rating and a $24.00 target price for the company. Compass Point upgraded Callaway Golf from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 18th. Stephens started coverage on Callaway Golf in a research note on Tuesday, January 8th. They set an “equal weight” rating and a $17.00 target price for the company. Zacks Investment Research upgraded Callaway Golf from a “sell” rating to a “hold” rating in a research note on Monday, January 7th. Finally, ValuEngine upgraded Callaway Golf from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $22.31.

In other news, Director Russell L. Fleischer purchased 5,000 shares of the company’s stock in a transaction on Tuesday, February 12th. The shares were purchased at an average price of $15.50 per share, with a total value of $77,500.00. Following the purchase, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $77,500. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.97% of the company’s stock.

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About Callaway Golf

Callaway Golf Company, together with its subsidiaries, designs, manufactures, and sells golf clubs, golf balls, golf bags, and other golf-related accessories. The company operates through three segments: Golf Clubs; Golf Balls; and Gear, Accessories and Other. The Golf Clubs segment provides golf drivers and fairway woods, hybrids, irons and wedges, putters, packaged sets, and pre-owned golf clubs.

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

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