Public Sector Pension investment Board Decreases Stake in Callaway Golf Company (ELY)

Public Sector Pension investment Board decreased its holdings in Callaway Golf Company (NYSE:ELY) by 26.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,732 shares of the company’s stock after selling 17,300 shares during the quarter. Public Sector Pension investment Board owned approximately 0.05% of Callaway Golf worth $623,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of ELY. BlackRock Inc. grew its holdings in shares of Callaway Golf by 56,247.6% during the 1st quarter. BlackRock Inc. now owns 11,700,569 shares of the company’s stock worth $129,526,000 after purchasing an additional 11,679,804 shares during the period. Naya Capital Management UK Ltd. grew its holdings in shares of Callaway Golf by 42.8% during the 1st quarter. Naya Capital Management UK Ltd. now owns 3,089,460 shares of the company’s stock worth $34,200,000 after purchasing an additional 926,385 shares during the period. Platinum Investment Management Ltd. grew its holdings in shares of Callaway Golf by 41.6% during the 1st quarter. Platinum Investment Management Ltd. now owns 2,327,400 shares of the company’s stock worth $25,764,000 after purchasing an additional 683,900 shares during the period. Kennedy Capital Management Inc. grew its holdings in shares of Callaway Golf by 161.1% during the 1st quarter. Kennedy Capital Management Inc. now owns 973,299 shares of the company’s stock worth $10,774,000 after purchasing an additional 600,557 shares during the period. Finally, Hodges Capital Management Inc. purchased a new stake in shares of Callaway Golf during the 2nd quarter worth about $5,934,000. Institutional investors and hedge funds own 87.46% of the company’s stock.

Callaway Golf Company (ELY) opened at 14.02 on Tuesday. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of 7.75 and a beta of 1.17. Callaway Golf Company has a 12 month low of $9.77 and a 12 month high of $14.75. The firm has a 50 day moving average price of $14.06 and a 200-day moving average price of $12.85.

Callaway Golf (NYSE:ELY) last released its earnings results on Thursday, August 3rd. The company reported $0.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.05. The firm had revenue of $304.50 million for the quarter, compared to analyst estimates of $295.70 million. Callaway Golf had a return on equity of 6.60% and a net margin of 18.09%. The company’s revenue was up 24.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.36 EPS. On average, equities analysts forecast that Callaway Golf Company will post $0.44 EPS for the current year.

In other Callaway Golf news, insider Jennifer L. Thomas sold 19,349 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $13.90, for a total value of $268,951.10. Following the completion of the sale, the insider now owns 30,189 shares in the company, valued at approximately $419,627.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Mark F. Leposky sold 31,691 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $14.00, for a total value of $443,674.00. Following the completion of the sale, the vice president now owns 68,343 shares of the company’s stock, valued at approximately $956,802. The disclosure for this sale can be found here. Insiders sold a total of 281,113 shares of company stock valued at $3,792,388 in the last quarter. Corporate insiders own 2.59% of the company’s stock.

A number of analysts have recently issued reports on the company. Jefferies Group LLC reiterated a “buy” rating and set a $18.00 target price on shares of Callaway Golf in a report on Thursday, October 12th. Zacks Investment Research lowered Callaway Golf from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. DA Davidson reissued a “buy” rating and set a $16.00 price target on shares of Callaway Golf in a research report on Wednesday, September 20th. Aegis reissued a “buy” rating on shares of Callaway Golf in a research report on Monday, September 4th. Finally, KeyCorp reissued a “buy” rating and set a $16.00 price target on shares of Callaway Golf in a research report on Thursday, August 31st. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $15.31.

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Callaway Golf Company 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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