State of Tennessee Treasury Department reduced its stake in Callaway Golf Company (NYSE:ELY) by 5.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 82,976 shares of the company’s stock after selling 5,245 shares during the period. State of Tennessee Treasury Department owned about 0.09% of Callaway Golf worth $1,197,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of ELY. Riverhead Capital Management LLC boosted its stake in shares of 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 purchasing an additional 3,426 shares in the last quarter. C M Bidwell & Associates Ltd. acquired a new stake in shares of Callaway Golf in the 2nd quarter valued at approximately $109,000. Flinton Capital Management LLC boosted its stake in shares of 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 purchasing an additional 4,726 shares in the last quarter. Amalgamated Bank boosted its stake in shares of 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 purchasing an additional 160 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. acquired a new stake in shares of Callaway Golf in the 2nd quarter valued at approximately $194,000. Institutional investors own 87.15% of the company’s stock.

In related news, SVP Richard H. Arnett sold 8,070 shares of Callaway Golf stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $14.01, for a total transaction of $113,060.70. Following the sale, the senior vice president now directly owns 5,000 shares in the company, valued at approximately $70,050. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Alan Hocknell sold 41,051 shares of Callaway Golf stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $13.75, for a total transaction of $564,451.25. Following the sale, the senior vice president now owns 73,227 shares in the company, valued at $1,006,871.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 121,941 shares of company stock worth $1,714,848. 2.59% of the stock is owned by corporate insiders.

A number of research firms have recently weighed in on ELY. B. Riley restated a “buy” rating on shares of Callaway Golf in a research note on Wednesday, November 1st. Imperial Capital restated an “outperform” rating and issued a $16.00 price target (up from $14.50) on shares of Callaway Golf in a research note on Wednesday, August 9th. Forward View downgraded shares of Callaway Golf to a “hold” rating and set a $14.00 price target on the stock. in a research note on Saturday, August 5th. Compass Point downgraded shares of Callaway Golf from a “buy” rating to a “neutral” rating and raised their price target for the company from $13.60 to $13.75 in a research note on Monday, August 7th. Finally, Zacks Investment Research upgraded shares of Callaway Golf from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Monday, August 7th. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Callaway Golf has a consensus rating of “Buy” and a consensus target price of $15.67.

Callaway Golf Company (NYSE ELY) traded down $0.21 during trading hours on Friday, reaching $14.34. 433,800 shares of the company traded hands, compared to its average volume of 995,422. Callaway Golf Company has a twelve month low of $9.93 and a twelve month high of $15.63. The firm has a market cap of $1,355.65, a P/E ratio of 28.12, a PEG ratio of 1.87 and a beta of 1.10.

Callaway Golf (NYSE:ELY) last posted its earnings results on Wednesday, October 25th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.09. Callaway Golf had a net margin of 17.97% and a return on equity of 7.88%. The business had revenue of $243.60 million for the quarter, compared to the consensus estimate of $209.52 million. During the same period last year, the company earned ($0.06) EPS. The firm’s revenue was up 29.7% compared to the same quarter last year. analysts predict that Callaway Golf Company will post 0.51 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 13th. Investors of record on Wednesday, November 22nd will be given a dividend of $0.01 per share. The ex-dividend date is Tuesday, November 21st. This represents a $0.04 annualized dividend and a yield of 0.28%. Callaway Golf’s dividend payout ratio is presently 2.09%.

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Callaway Golf 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.

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

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