Monarch Partners Asset Management LLC decreased its holdings in shares of Callaway Golf Company (NYSE:ELY) by 2.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 511,520 shares of the company’s stock after selling 13,085 shares during the quarter. Monarch Partners Asset Management LLC owned about 0.54% of Callaway Golf worth $7,381,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Riverhead Capital Management LLC boosted its holdings in Callaway Golf by 69.9% in the second quarter. Riverhead Capital Management LLC now owns 8,326 shares of the company’s stock valued at $106,000 after acquiring an additional 3,426 shares during the last quarter. C M Bidwell & Associates Ltd. acquired a new position in Callaway Golf in the second quarter valued at $109,000. Flinton Capital Management LLC boosted its holdings in Callaway Golf by 71.6% in the second quarter. Flinton Capital Management LLC now owns 11,322 shares of the company’s stock valued at $145,000 after acquiring an additional 4,726 shares during the last quarter. Amalgamated Bank boosted its holdings in Callaway Golf by 1.3% in the second quarter. Amalgamated Bank now owns 12,821 shares of the company’s stock valued at $164,000 after acquiring an additional 160 shares during the last quarter. Finally, Cornerstone Capital Management Holdings LLC. acquired a new position in Callaway Golf in the second quarter valued at $194,000. Institutional investors and hedge funds own 88.92% of the company’s stock.

Shares of Callaway Golf Company (NYSE:ELY) traded down $0.05 on Tuesday, hitting $14.12. 1,700 shares of the stock were exchanged, compared to its average volume of 771,369. Callaway Golf Company has a 1-year low of $9.93 and a 1-year high of $15.63. The firm has a market capitalization of $1,324.98, a price-to-earnings ratio of 27.53, a P/E/G ratio of 1.84 and a beta of 1.10.

Callaway Golf (NYSE:ELY) last announced 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 net margin of 17.97% and a return on equity of 7.88%. The company had revenue of $243.60 million for the quarter, compared to analysts’ expectations of $209.52 million. During the same period last year, the firm posted ($0.06) earnings per share. The business’s quarterly revenue was up 29.7% compared to the same quarter last year. research analysts predict that Callaway Golf Company will post 0.51 EPS for the current year.

ELY has been the topic of a number of recent research reports. BidaskClub upgraded Callaway Golf from a “hold” rating to a “buy” rating in a research note on Saturday, August 26th. Aegis initiated coverage on Callaway Golf in a research note on Friday, August 25th. They set a “buy” rating and a $16.00 price objective on the stock. Zacks Investment Research upgraded Callaway Golf from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research note on Monday, August 7th. Jefferies Group LLC set a $18.00 price objective on Callaway Golf and gave the stock a “buy” rating in a research note on Friday, August 4th. Finally, KeyCorp restated a “buy” rating and set a $16.00 price objective on shares of Callaway Golf in a research note on Thursday, August 31st. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $15.67.

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In other Callaway Golf news, SVP Brian P. Lynch sold 6,277 shares of Callaway Golf stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $15.42, for a total value of $96,791.34. Following the sale, the senior vice president now directly owns 46,184 shares in the company, valued at approximately $712,157.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Anthony S. Thornley sold 7,000 shares of Callaway Golf stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $14.40, for a total transaction of $100,800.00. Following the completion of the sale, the director now owns 47,034 shares in the company, valued at $677,289.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 113,871 shares of company stock worth $1,601,788. 2.59% of the stock is currently owned by company insiders.

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.

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

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