We Are One Seven LLC Purchases 523 Shares of Callaway Golf Co (NYSE:ELY)

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We Are One Seven LLC increased its position in shares of Callaway Golf Co (NYSE:ELY) by 2.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,451 shares of the company’s stock after buying an additional 523 shares during the period. We Are One Seven LLC’s holdings in Callaway Golf were worth $378,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ELY. Nuveen Asset Management LLC raised its stake in Callaway Golf by 349.5% during the second quarter. Nuveen Asset Management LLC now owns 806,709 shares of the company’s stock worth $13,843,000 after buying an additional 627,229 shares during the last quarter. Morgan Stanley raised its stake in Callaway Golf by 184.7% during the second quarter. Morgan Stanley now owns 889,224 shares of the company’s stock worth $15,259,000 after buying an additional 576,838 shares during the last quarter. Landscape Capital Management L.L.C. bought a new position in Callaway Golf during the second quarter worth $7,735,000. Copper Rock Capital Partners LLC grew its holdings in Callaway Golf by 33.4% in the second quarter. Copper Rock Capital Partners LLC now owns 1,416,615 shares of the company’s stock worth $24,309,000 after purchasing an additional 354,426 shares during the period. Finally, Rice Hall James & Associates LLC grew its holdings in Callaway Golf by 29.2% in the second quarter. Rice Hall James & Associates LLC now owns 876,567 shares of the company’s stock worth $15,042,000 after purchasing an additional 197,927 shares during the period. 94.94% of the stock is owned by institutional investors and hedge funds.

In other news, EVP Richard H. Arnett sold 13,137 shares of Callaway Golf stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $20.00, for a total transaction of $262,740.00. Following the completion of the transaction, the executive vice president now directly owns 31,276 shares in the company, valued at $625,520. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.97% of the stock is owned by company insiders.

A number of equities research analysts have commented on ELY shares. B. Riley set a $30.00 price target on shares of Callaway Golf and gave the stock a “buy” rating in a report on Wednesday. ValuEngine cut shares of Callaway Golf from a “buy” rating to a “hold” rating in a report on Tuesday, October 1st. Stephens upgraded shares of Callaway Golf from an “equal” rating to a “weight” rating and raised their price target for the stock from $18.00 to $21.50 in a report on Friday, August 9th. Zacks Investment Research cut shares of Callaway Golf from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Compass Point set a $21.00 price target on shares of Callaway Golf and gave the stock a “buy” rating in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $22.75.

Shares of NYSE ELY opened at $20.18 on Friday. The stock has a market capitalization of $1.87 billion, a P/E ratio of 25.44, a P/E/G ratio of 0.74 and a beta of 1.26. The company has a 50-day moving average price of $18.53 and a 200-day moving average price of $17.37. Callaway Golf Co has a 1 year low of $14.44 and a 1 year high of $24.38. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.70 and a quick ratio of 0.92.

Callaway Golf (NYSE:ELY) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.12. The firm had revenue of $446.71 million during the quarter, compared to analysts’ expectations of $430.12 million. Callaway Golf had a net margin of 4.17% and a return on equity of 9.95%. The business’s revenue was up 12.7% on a year-over-year basis. During the same period last year, the company earned $0.63 earnings per share. As a group, equities research analysts anticipate that Callaway Golf Co will post 1.07 earnings per share for the current fiscal year.

Callaway Golf declared that its board has authorized a stock repurchase program on Thursday, August 8th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 5.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

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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