Callaway Golf (NYSE:ELY) Shares Bought by Royce & Associates LP

Royce & Associates LP lifted its position in Callaway Golf (NYSE:ELYGet Rating) by 117.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 126,000 shares of the company’s stock after acquiring an additional 68,000 shares during the quarter. Royce & Associates LP owned 0.07% of Callaway Golf worth $2,951,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in ELY. Victory Capital Management Inc. boosted its position in Callaway Golf by 1.0% during the 4th quarter. Victory Capital Management Inc. now owns 321,195 shares of the company’s stock valued at $8,814,000 after purchasing an additional 3,028 shares during the period. Assenagon Asset Management S.A. boosted its position in Callaway Golf by 52.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 140,114 shares of the company’s stock valued at $3,845,000 after purchasing an additional 48,213 shares during the period. Stephens Inc. AR acquired a new position in Callaway Golf during the 1st quarter valued at approximately $505,000. State Street Corp boosted its position in Callaway Golf by 2.4% during the 4th quarter. State Street Corp now owns 3,438,369 shares of the company’s stock valued at $94,349,000 after purchasing an additional 80,838 shares during the period. Finally, Commonwealth Equity Services LLC boosted its position in Callaway Golf by 4.6% during the 4th quarter. Commonwealth Equity Services LLC now owns 18,257 shares of the company’s stock valued at $501,000 after purchasing an additional 800 shares during the period. Institutional investors and hedge funds own 87.20% of the company’s stock.

Insider Transactions at Callaway Golf

In other news, Director Erik J. Anderson sold 9,992 shares of the business’s stock in a transaction on Monday, May 16th. The stock was sold at an average price of $20.81, for a total transaction of $207,933.52. Following the sale, the director now directly owns 651,821 shares of the company’s stock, valued at $13,564,395.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 13.46% of the stock is owned by insiders.

Callaway Golf Stock Down 0.2 %

Shares of Callaway Golf stock opened at $23.24 on Friday. The stock’s fifty day moving average is $21.50 and its 200-day moving average is $22.36. The firm has a market capitalization of $4.29 billion, a PE ratio of 34.18, a price-to-earnings-growth ratio of 1.49 and a beta of 1.76. The company has a quick ratio of 0.74, a current ratio of 1.21 and a debt-to-equity ratio of 0.29. Callaway Golf has a 12-month low of $17.78 and a 12-month high of $34.24.

Callaway Golf (NYSE:ELYGet Rating) last announced its earnings results on Tuesday, May 10th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.12. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.02 billion. Callaway Golf had a return on equity of 3.56% and a net margin of 3.87%. Callaway Golf’s revenue for the quarter was up 59.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.62 earnings per share. Equities analysts anticipate that Callaway Golf will post 0.79 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on ELY. Roth Capital reiterated a “buy” rating on shares of Callaway Golf in a research report on Wednesday, April 27th. Berenberg Bank reiterated a “buy” rating and set a $34.00 price target on shares of Callaway Golf in a research report on Friday, May 27th. lowered Callaway Golf from a “hold” rating to a “sell” rating in a research report on Thursday, May 19th. Truist Financial reduced their price target on Callaway Golf from $42.00 to $36.00 and set a “buy” rating for the company in a research report on Monday, April 11th. Finally, KeyCorp dropped their price objective on Callaway Golf from $40.00 to $30.00 in a research note on Thursday, May 12th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $38.70.

Callaway Golf Company Profile

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Callaway Golf Company, together with its subsidiaries, designs, manufactures, and sells golf equipment, golf and lifestyle apparel, and other accessories. It operates through three segments: Topgolf; Golf Equipment; and Apparel, Gear and Other. The Topgolf segment operates Topgolf venues equipped with technology-enabled hitting bays, multiple bars, dining areas, and event spaces, as well as Toptracer ball-flight tracking technology used by independent driving ranges and broadcast television; and World Golf Tour digital golf game.

See Also

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

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