Vanguard Group Inc. Has $61.51 Million Position in Callaway Golf Company (ELY)
Vanguard Group Inc. trimmed its position in Callaway Golf Company (NYSE:ELY) by 3.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,812,969 shares of the company’s stock after selling 183,932 shares during the period. Vanguard Group Inc. owned approximately 5.13% of Callaway Golf worth $61,509,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of ELY. BlackRock Inc. grew its position in Callaway Golf by 56,247.6% in the 1st quarter. BlackRock Inc. now owns 11,700,569 shares of the company’s stock valued at $129,526,000 after buying an additional 11,679,804 shares during the last quarter. Hodges Capital Management Inc. purchased a new position in Callaway Golf in the 2nd quarter valued at $5,934,000. Dimensional Fund Advisors LP grew its position in Callaway Golf by 7.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,789,240 shares of the company’s stock valued at $64,087,000 after buying an additional 381,438 shares during the last quarter. HL Financial Services LLC purchased a new position in Callaway Golf in the 2nd quarter valued at $3,211,000. Finally, Systematic Financial Management LP purchased a new position in Callaway Golf in the 2nd quarter valued at $3,049,000. Hedge funds and other institutional investors own 88.99% of the company’s stock.
A number of research firms recently weighed in on ELY. Forward View reiterated a “hold” rating on shares of Callaway Golf in a research report on Saturday, October 28th. Zacks Investment Research upgraded shares of Callaway Golf from a “hold” rating to a “strong-buy” rating and set a $17.00 price objective on the stock in a research report on Friday, October 27th. Jefferies Group LLC set a $19.00 price objective on shares of Callaway Golf and gave the company a “buy” rating in a research report on Thursday, October 26th. SunTrust Banks, Inc. lifted their price objective on shares of Callaway Golf from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, October 26th. Finally, FBR & Co set a $16.00 price objective on shares of Callaway Golf and gave the company a “buy” rating in a research report on Thursday, October 26th. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $15.67.
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Callaway Golf (NYSE:ELY) last released its quarterly earnings results on Wednesday, October 25th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.09. Callaway Golf had a return on equity of 7.88% and a net margin of 17.97%. The company had revenue of $243.60 million during the quarter, compared to analysts’ expectations of $209.52 million. During the same quarter in the prior year, the business posted ($0.06) earnings per share. The company’s revenue for the quarter was up 29.7% compared to the same quarter last year.
In other news, SVP Alan Hocknell sold 57,138 shares of the stock in a transaction on Friday, August 4th. The stock was sold at an average price of $13.30, for a total value of $759,935.40. Following the completion of the transaction, the senior vice president now owns 115,045 shares of the company’s stock, valued at $1,530,098.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Anthony S. Thornley sold 7,000 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $14.40, for a total value of $100,800.00. Following the completion of the transaction, the director now directly owns 47,034 shares of the company’s stock, valued at approximately $677,289.60. The disclosure for this sale can be found here. In the last three months, insiders sold 302,893 shares of company stock valued at $4,117,099. Company insiders own 2.59% of the company’s stock.
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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