Nicholas Investment Partners LP lifted its stake in Callaway Golf Co (NYSE:ELY) by 10.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 603,107 shares of the company’s stock after purchasing an additional 56,028 shares during the quarter. Nicholas Investment Partners LP owned 0.64% of Callaway Golf worth $8,401,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently bought and sold shares of ELY. Investors Research Corp bought a new position in Callaway Golf during the fourth quarter valued at approximately $217,000. Allianz Asset Management GmbH raised its position in Callaway Golf by 4,685.0% during the fourth quarter. Allianz Asset Management GmbH now owns 602,816 shares of the company’s stock valued at $8,398,000 after acquiring an additional 590,218 shares in the last quarter. Mackenzie Financial Corp bought a new position in Callaway Golf during the fourth quarter valued at approximately $2,527,000. Ramsey Quantitative Systems raised its position in Callaway Golf by 46.1% during the fourth quarter. Ramsey Quantitative Systems now owns 37,149 shares of the company’s stock valued at $517,000 after acquiring an additional 11,727 shares in the last quarter. Finally, Sawgrass Asset Management LLC bought a new position in Callaway Golf during the fourth quarter valued at approximately $1,326,000. 89.07% of the stock is owned by institutional investors and hedge funds.
ELY has been the topic of several recent research reports. TheStreet raised shares of Callaway Golf from a “c+” rating to a “b” rating in a research report on Wednesday, February 14th. Roth Capital set a $17.00 price target on Callaway Golf and gave the company a “buy” rating in a report on Monday, February 5th. Jefferies Group reiterated a “buy” rating and set a $21.00 price target on shares of Callaway Golf in a report on Thursday, February 8th. DA Davidson set a $18.00 price target on Callaway Golf and gave the company a “buy” rating in a report on Wednesday, December 27th. Finally, Zacks Investment Research upgraded Callaway Golf from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a report on Friday, January 5th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Callaway Golf has a consensus rating of “Buy” and a consensus target price of $16.61.
In other Callaway Golf news, insider Alex Mitchell Boezeman sold 16,738 shares of Callaway Golf stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $15.31, for a total transaction of $256,258.78. Following the sale, the insider now owns 120,873 shares in the company, valued at $1,850,565.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Richard H. Arnett sold 8,193 shares of Callaway Golf stock in a transaction on Tuesday, March 6th. The stock was sold at an average price of $16.00, for a total transaction of $131,088.00. Following the sale, the senior vice president now owns 20,241 shares in the company, valued at approximately $323,856. The disclosure for this sale can be found here. In the last 90 days, insiders sold 194,504 shares of company stock worth $3,039,131. 2.59% of the stock is currently owned by corporate insiders.
Shares of Callaway Golf Co (NYSE:ELY) traded down $0.05 during trading on Wednesday, hitting $15.87. 637,395 shares of the stock traded hands, compared to its average volume of 934,910. The firm has a market capitalization of $1,513.16, a P/E ratio of 36.91, a price-to-earnings-growth ratio of 1.53 and a beta of 1.06. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.65 and a current ratio of 1.48. Callaway Golf Co has a twelve month low of $10.80 and a twelve month high of $16.24.
Callaway Golf (NYSE:ELY) last announced its quarterly earnings data on Wednesday, February 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.02. The business had revenue of $192.00 million for the quarter, compared to the consensus estimate of $184.74 million. Callaway Golf had a net margin of 3.89% and a return on equity of 7.85%. Callaway Golf’s quarterly revenue was up 17.1% on a year-over-year basis. During the same quarter last year, the company posted ($0.09) earnings per share. analysts anticipate that Callaway Golf Co will post 0.7 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 7th. Stockholders of record on Wednesday, February 14th were paid a $0.01 dividend. The ex-dividend date was Tuesday, February 13th. This represents a $0.04 annualized dividend and a dividend yield of 0.25%. Callaway Golf’s payout ratio is 9.30%.
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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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