Invictus RG Purchases 32,988 Shares of Callaway Golf Company (ELY)
Invictus RG boosted its position in shares of Callaway Golf Company (NYSE:ELY) by 1,940.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 34,688 shares of the company’s stock after purchasing an additional 32,988 shares during the quarter. Invictus RG’s holdings in Callaway Golf were worth $501,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently made changes to their positions in ELY. Dimensional Fund Advisors LP increased its stake in shares of Callaway Golf by 3.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 6,633,502 shares of the company’s stock valued at $95,720,000 after acquiring an additional 240,520 shares during the last quarter. Daruma Capital Management LLC bought a new stake in shares of Callaway Golf in the 2nd quarter valued at about $48,831,000. State Street Corp increased its stake in shares of Callaway Golf by 2.8% in the 2nd quarter. State Street Corp now owns 2,215,678 shares of the company’s stock valued at $28,317,000 after acquiring an additional 59,853 shares during the last quarter. Bernzott Capital Advisors increased its stake in shares of Callaway Golf by 5.9% in the 2nd quarter. Bernzott Capital Advisors now owns 1,655,112 shares of the company’s stock valued at $21,152,000 after acquiring an additional 91,975 shares during the last quarter. Finally, Thornburg Investment Management Inc. increased its stake in shares of Callaway Golf by 5.1% in the 3rd quarter. Thornburg Investment Management Inc. now owns 1,396,845 shares of the company’s stock valued at $20,156,000 after acquiring an additional 68,207 shares during the last quarter. 88.16% of the stock is owned by hedge funds and other institutional investors.
In other Callaway Golf news, SVP Richard H. Arnett sold 8,070 shares of the company’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $14.01, for a total transaction of $113,060.70. Following the completion of the transaction, the senior vice president now owns 5,000 shares of the company’s stock, valued at approximately $70,050. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Brian P. Lynch sold 6,277 shares of the company’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $15.42, for a total value of $96,791.34. Following the transaction, the senior vice president now directly owns 46,184 shares of the company’s stock, valued at approximately $712,157.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,850 shares of company stock valued at $437,772. Insiders own 2.59% of the company’s stock.
Callaway Golf Company (NYSE:ELY) traded up $0.60 during trading hours on Tuesday, reaching $14.72. The company’s stock had a trading volume of 1,986,600 shares, compared to its average volume of 992,611. Callaway Golf Company has a 52-week low of $9.93 and a 52-week high of $15.63. The firm has a market cap of $1,334.85, a P/E ratio of 27.69, a P/E/G ratio of 1.85 and a beta of 1.12.
Callaway Golf (NYSE:ELY) last released its quarterly earnings results on Wednesday, October 25th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.09. Callaway Golf had a return on equity of 7.88% and a net margin of 17.97%. The firm had revenue of $243.60 million during the quarter, compared to the consensus estimate of $209.52 million. During the same quarter in the prior year, the firm posted ($0.06) EPS. The business’s revenue was up 29.7% on a year-over-year basis. analysts expect that Callaway Golf Company will post 0.51 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 13th. Shareholders of record on Wednesday, November 22nd will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date is Tuesday, November 21st. Callaway Golf’s dividend payout ratio (DPR) is currently 2.09%.
A number of analysts have recently commented on the company. KeyCorp reaffirmed 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 Callaway Golf and gave the company a “buy” rating in a research note on Thursday, October 26th. Compass Point cut Callaway Golf from a “buy” rating to a “neutral” rating and upped their price target for the company from $13.60 to $13.75 in a research note on Monday, August 7th. Zacks Investment Research upgraded Callaway Golf from a “hold” rating to a “strong-buy” rating and set a $17.00 price objective for the company in a research report on Friday, October 27th. Finally, B. Riley reiterated a “buy” rating on shares of Callaway Golf in a research report on Wednesday, November 1st. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $15.67.
About Callaway Golf
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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