Dimensional Fund Advisors LP Cuts Stake in Callaway Golf (NYSE:ELY)

Dimensional Fund Advisors LP lowered its position in Callaway Golf (NYSE:ELY) by 1.6% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 2,255,196 shares of the company’s stock after selling 36,377 shares during the period. Dimensional Fund Advisors LP’s holdings in Callaway Golf were worth $76,067,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. SG Americas Securities LLC lifted its position in Callaway Golf by 8.0% in the second quarter. SG Americas Securities LLC now owns 19,076 shares of the company’s stock valued at $643,000 after purchasing an additional 1,419 shares during the last quarter. George Kaiser Family Foundation lifted its position in Callaway Golf by 997.1% in the second quarter. George Kaiser Family Foundation now owns 4,124,226 shares of the company’s stock valued at $139,110,000 after purchasing an additional 3,748,294 shares during the last quarter. Golden State Wealth Management LLC bought a new stake in Callaway Golf in the second quarter valued at approximately $773,000. Segall Bryant & Hamill LLC raised its holdings in shares of Callaway Golf by 6.5% during the second quarter. Segall Bryant & Hamill LLC now owns 247,707 shares of the company’s stock valued at $8,355,000 after acquiring an additional 15,081 shares in the last quarter. Finally, Natixis Advisors L.P. bought a new position in shares of Callaway Golf during the second quarter valued at approximately $929,000. Hedge funds and other institutional investors own 61.14% of the company’s stock.

NYSE ELY opened at $27.30 on Thursday. Callaway Golf has a 12 month low of $14.62 and a 12 month high of $37.75. The stock has a market cap of $5.08 billion, a P/E ratio of 9.86 and a beta of 2.10. The stock’s fifty day moving average price is $29.08 and its 200-day moving average price is $30.95. The company has a current ratio of 1.59, a quick ratio of 1.17 and a debt-to-equity ratio of 0.28.

Callaway Golf (NYSE:ELY) last released its quarterly earnings data on Monday, August 9th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.37. Callaway Golf had a return on equity of 7.99% and a net margin of 15.57%. The company had revenue of $914.00 million for the quarter, compared to analysts’ expectations of $755.21 million. During the same period last year, the firm posted $0.06 earnings per share. Callaway Golf’s revenue was up 207.7% compared to the same quarter last year. As a group, analysts forecast that Callaway Golf will post 0.39 earnings per share for the current fiscal year.

In other Callaway Golf news, major shareholder Pep Tg Investments Lp sold 4,600,000 shares of the firm’s stock in a transaction dated Monday, September 20th. The stock was sold at an average price of $27.64, for a total value of $127,144,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 1.23% of the company’s stock.

A number of brokerages recently commented on ELY. TheStreet downgraded Callaway Golf from a “b-” rating to a “c” rating in a report on Monday, August 9th. Berenberg Bank restated a “buy” rating and set a $40.00 target price on shares of Callaway Golf in a report on Wednesday, September 15th. Zacks Investment Research upgraded Callaway Golf from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a report on Tuesday. Roth Capital upped their target price on Callaway Golf from $41.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday, August 10th. Finally, Compass Point upgraded Callaway Golf from a “neutral” rating to a “buy” rating and set a $33.00 price objective for the company in a report on Tuesday. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $36.70.

Callaway Golf Company Profile

Callaway Golf Co engages in the manufacture and distribution of golf equipment and accessories. It operates through the following segments: Golf Equipment; and Apparel, Gear, and Other. The Golf Equipment segment focuses in the designs, manufactures, and selling of a full line of golf equipment. The Apparel, Gear, and Other segment involves in the development and selling of soft goods products under the Callaway, TravisMathew, OGIO, and Jack Wolfskin brands.

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

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