Oxford Asset Management bought a new stake in Callaway Golf Co (NYSE:ELY) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 214,644 shares of the company’s stock, valued at approximately $2,376,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Tributary Capital Management LLC boosted its position in shares of Callaway Golf by 7.3% in the third quarter. Tributary Capital Management LLC now owns 698,546 shares of the company’s stock valued at $8,110,000 after buying an additional 47,597 shares during the period. Picton Mahoney Asset Management purchased a new position in shares of Callaway Golf during the third quarter valued at about $1,859,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Callaway Golf by 127.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 155,400 shares of the company’s stock valued at $1,804,000 after buying an additional 87,100 shares during the period. Scopus Asset Management L.P. purchased a new position in shares of Callaway Golf during the third quarter valued at about $30,767,000. Finally, HBK Investments L P boosted its position in shares of Callaway Golf by 33.2% in the third quarter. HBK Investments L P now owns 187,316 shares of the company’s stock valued at $2,175,000 after buying an additional 46,716 shares during the period. 85.85% of the stock is owned by institutional investors and hedge funds.
Callaway Golf Co (NYSE:ELY) traded up 0.31% during trading on Friday, hitting $12.77. 201,689 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $12.20 and its 200 day moving average price is $11.48. Callaway Golf Co has a 12-month low of $9.50 and a 12-month high of $13.35. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of 6.90 and a beta of 1.33.
Callaway Golf (NYSE:ELY) last released its quarterly earnings results on Thursday, May 4th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.08. Callaway Golf had a net margin of 21.80% and a return on equity of 9.93%. The firm had revenue of $309 million for the quarter, compared to analysts’ expectations of $283.68 million. During the same quarter last year, the company earned $0.26 EPS. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. Equities analysts forecast that Callaway Golf Co will post $0.34 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 13th. Stockholders of record on Tuesday, May 23rd will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Friday, May 19th. This represents a $0.04 annualized dividend and a dividend yield of 0.31%. Callaway Golf’s dividend payout ratio is presently 2.02%.
Several brokerages have issued reports on ELY. FBR & Co set a $14.00 target price on shares of Callaway Golf and gave the stock a “buy” rating in a report on Saturday, May 6th. Imperial Capital lifted their price target on shares of Callaway Golf from $13.00 to $14.50 and gave the stock an “outperform” rating in a research note on Tuesday. Zacks Investment Research upgraded shares of Callaway Golf from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a research note on Tuesday, April 18th. Morgan Stanley lowered shares of Callaway Golf from an “overweight” rating to an “equal weight” rating in a research note on Monday, April 17th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $14.00 price target on shares of Callaway Golf in a research note on Wednesday, March 22nd. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $13.83.
In other Callaway Golf news, insider Alex Mitchell Boezeman sold 200,820 shares of Callaway Golf stock in a transaction dated Tuesday, April 18th. The stock was sold at an average price of $11.75, for a total value of $2,359,635.00. Following the completion of the transaction, the insider now directly owns 158,950 shares of the company’s stock, valued at approximately $1,867,662.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Neil Howie sold 37,069 shares of Callaway Golf stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $13.10, for a total value of $485,603.90. The disclosure for this sale can be found here. In the last quarter, insiders have sold 459,480 shares of company stock worth $5,340,813. Insiders own 2.10% of the company’s stock.
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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