Davidson Kempner Capital Management LP Has $15.98 Million Holdings in Callaway Golf Company (ELY)
Davidson Kempner Capital Management LP decreased its position in Callaway Golf Company (NYSE:ELY) by 42.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,250,000 shares of the company’s stock after selling 925,000 shares during the period. Davidson Kempner Capital Management LP owned 1.32% of Callaway Golf worth $15,975,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. Riverhead Capital Management LLC increased its stake in Callaway Golf by 69.9% in the 2nd quarter. Riverhead Capital Management LLC now owns 8,326 shares of the company’s stock valued at $106,000 after buying an additional 3,426 shares during the last quarter. C M Bidwell & Associates Ltd. purchased a new stake in Callaway Golf in the 2nd quarter valued at about $109,000. Flinton Capital Management LLC increased its stake in Callaway Golf by 71.6% in the 2nd quarter. Flinton Capital Management LLC now owns 11,322 shares of the company’s stock valued at $145,000 after buying an additional 4,726 shares during the last quarter. Amalgamated Bank increased its stake in Callaway Golf by 1.3% in the 2nd quarter. Amalgamated Bank now owns 12,821 shares of the company’s stock valued at $164,000 after buying an additional 160 shares during the last quarter. Finally, Cornerstone Capital Management Holdings LLC. purchased a new stake in Callaway Golf in the 2nd quarter valued at about $194,000. Hedge funds and other institutional investors own 87.46% of the company’s stock.
Several research firms have commented on ELY. Imperial Capital reiterated an “outperform” rating and issued a $16.00 price objective (up previously from $14.50) on shares of Callaway Golf in a research note on Wednesday, August 9th. Aegis reiterated a “buy” rating on shares of Callaway Golf in a research note on Monday, September 4th. Forward View lowered shares of Callaway Golf to a “hold” rating and set a $14.00 price objective for the company. in a research note on Saturday, August 5th. Compass Point lowered shares of Callaway Golf from a “buy” rating to a “neutral” rating and raised their price target for the stock from $13.60 to $13.75 in a research note on Monday, August 7th. Finally, KeyCorp restated an “overweight” rating and set a $16.00 price target on shares of Callaway Golf in a research note on Wednesday, August 30th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $15.31.
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In related news, VP Mark F. Leposky sold 31,691 shares of the stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $14.00, for a total transaction of $443,674.00. Following the transaction, the vice president now owns 68,343 shares in the company, valued at $956,802. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Oliver G. Brewer III sold 131,884 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $13.31, for a total transaction of $1,755,376.04. Following the transaction, the insider now owns 291,399 shares in the company, valued at approximately $3,878,520.69. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 281,113 shares of company stock worth $3,792,388. 2.59% of the stock is owned by insiders.
Shares of Callaway Golf Company (NYSE ELY) traded up 1.20% during midday trading on Friday, hitting $14.39. 422,880 shares of the stock traded hands. The firm has a market capitalization of $1.36 billion, a PE ratio of 7.95 and a beta of 1.17. The company’s 50-day moving average is $14.12 and its 200 day moving average is $12.94. Callaway Golf Company has a 52 week low of $9.77 and a 52 week high of $14.75.
Callaway Golf (NYSE:ELY) last issued its quarterly earnings data on Thursday, August 3rd. The company reported $0.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.05. The company had revenue of $304.50 million for the quarter, compared to the consensus estimate of $295.70 million. Callaway Golf had a net margin of 18.09% and a return on equity of 6.60%. The firm’s revenue for the quarter was up 24.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.36 earnings per share. Analysts anticipate that Callaway Golf Company will post $0.44 earnings per share for the current year.
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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