Bank of America Corp DE increased its stake in Callaway Golf Co (NYSE:ELY) by 314.0% during the second quarter, Holdings Channel.com reports. The firm owned 2,273,085 shares of the company’s stock after purchasing an additional 1,724,011 shares during the quarter. Bank of America Corp DE’s holdings in Callaway Golf were worth $39,802,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Verus Capital Partners LLC raised its holdings in Callaway Golf by 400.0% in the 1st quarter. Verus Capital Partners LLC now owns 2,500 shares of the company’s stock worth $26,000 after purchasing an additional 2,000 shares during the period. Mutual of America Capital Management LLC raised its holdings in Callaway Golf by 22.5% in the 1st quarter. Mutual of America Capital Management LLC now owns 4,133 shares of the company’s stock worth $42,000 after purchasing an additional 760 shares during the period. DekaBank Deutsche Girozentrale bought a new position in Callaway Golf in the 2nd quarter worth $53,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Callaway Golf by 30.8% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,907 shares of the company’s stock worth $71,000 after purchasing an additional 1,625 shares during the period. Finally, Advisors Asset Management Inc. raised its holdings in Callaway Golf by 17.2% during the second quarter. Advisors Asset Management Inc. now owns 4,903 shares of the company’s stock valued at $86,000 after acquiring an additional 718 shares during the period.

Shares of NYSE ELY opened at $19.67 on Wednesday. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.45 and a quick ratio of 1.34. The company has a market cap of $1.85 billion, a P/E ratio of -13.38 and a beta of 1.99. Callaway Golf Co has a 1 year low of $4.75 and a 1 year high of $22.33. The firm has a 50-day simple moving average of $19.40 and a two-hundred day simple moving average of $15.37.

Callaway Golf (NYSE:ELY) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.12. The business had revenue of $297.00 million during the quarter, compared to the consensus estimate of $286.35 million. Callaway Golf had a negative net margin of 9.27% and a positive return on equity of 6.33%. The firm’s quarterly revenue was down 33.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.37 earnings per share. As a group, equities research analysts expect that Callaway Golf Co will post 0.42 EPS for the current year.

A number of equities research analysts have commented on the company. KeyCorp raised their price target on Callaway Golf from $17.00 to $22.00 and gave the company an “overweight” rating in a report on Monday, August 10th. Berenberg Bank restated a “buy” rating and set a $17.00 price objective on shares of Callaway Golf in a research report on Thursday, August 6th. SunTrust Banks raised their price objective on Callaway Golf from $16.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, June 29th. Raymond James raised their price objective on Callaway Golf from $17.50 to $22.00 and gave the company an “outperform” rating in a research report on Friday, August 7th. Finally, Stephens raised their price objective on Callaway Golf from $17.00 to $21.00 in a research report on Wednesday, June 10th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $21.36.

Callaway Golf Company Profile

Callaway Golf Company, together with its subsidiaries, designs, manufactures, and sells golf clubs, golf balls, golf bags, and other golf-related accessories. The company operates through three segments: Golf Clubs; Golf Balls; and Gear, Accessories and Other. The Golf Clubs segment provides golf drivers and fairway woods, hybrids, irons and wedges, putters, packaged sets, and pre-owned golf clubs.

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

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