Los Angeles Capital Management & Equity Research Inc. Grows Position in Callaway Golf Co (ELY)

Los Angeles Capital Management & Equity Research Inc. increased its position in shares of Callaway Golf Co (NYSE:ELY) by 73.8% in the third quarter, HoldingsChannel.com reports. The firm owned 55,387 shares of the company’s stock after acquiring an additional 23,527 shares during the quarter. Los Angeles Capital Management & Equity Research Inc.’s holdings in Callaway Golf were worth $1,345,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in ELY. Renaissance Technologies LLC acquired a new stake in shares of Callaway Golf during the second quarter worth about $19,205,000. BlackRock Inc. lifted its holdings in shares of Callaway Golf by 8.3% during the second quarter. BlackRock Inc. now owns 13,041,770 shares of the company’s stock worth $247,402,000 after purchasing an additional 999,297 shares during the period. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Callaway Golf during the second quarter worth about $7,913,000. Assenagon Asset Management S.A. acquired a new stake in shares of Callaway Golf during the third quarter worth about $7,271,000. Finally, WINTON GROUP Ltd lifted its holdings in shares of Callaway Golf by 602.4% during the third quarter. WINTON GROUP Ltd now owns 274,536 shares of the company’s stock worth $6,668,000 after purchasing an additional 235,451 shares during the period. 89.70% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts recently commented on the company. ValuEngine downgraded Callaway Golf from a “buy” rating to a “hold” rating in a report on Wednesday. Jefferies Financial Group reaffirmed a “buy” rating and set a $26.00 target price on shares of Callaway Golf in a report on Monday, October 29th. Cowen lifted their target price on Callaway Golf from $21.00 to $24.00 and gave the stock a “hold” rating in a report on Friday, September 28th. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $27.00 target price on shares of Callaway Golf in a report on Thursday, September 27th. Finally, Imperial Capital lifted their target price on Callaway Golf from $21.00 to $25.00 and gave the stock an “outperform” rating in a report on Tuesday, August 7th. They noted that the move was a valuation call. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $23.00.

Shares of NYSE:ELY opened at $19.08 on Wednesday. Callaway Golf Co has a 12-month low of $13.49 and a 12-month high of $24.67. The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of 36.00, a P/E/G ratio of 0.77 and a beta of 1.05. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.28 and a quick ratio of 1.14.

Callaway Golf (NYSE:ELY) last announced its quarterly earnings results on Wednesday, October 24th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.09. Callaway Golf had a return on equity of 16.48% and a net margin of 9.08%. The company had revenue of $262.65 million during the quarter, compared to the consensus estimate of $250.83 million. On average, sell-side analysts anticipate that Callaway Golf Co will post 1.05 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 12th. Shareholders of record on Wednesday, November 21st will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.21%. The ex-dividend date is Tuesday, November 20th. Callaway Golf’s payout ratio is presently 7.55%.

COPYRIGHT VIOLATION NOTICE: “Los Angeles Capital Management & Equity Research Inc. Grows Position in Callaway Golf Co (ELY)” was published by Markets Daily and is the sole property of of Markets Daily. If you are accessing this piece of content on another publication, it was stolen and reposted in violation of United States and international trademark & copyright laws. The correct version of this piece of content can be read at https://www.themarketsdaily.com/2018/11/21/los-angeles-capital-management-equity-research-inc-grows-position-in-callaway-golf-co-ely.html.

About Callaway Golf

Callaway Golf Company, together with its subsidiaries, designs, manufactures, and sells golf clubs, golf balls, golf bags, and other golf-related accessories in the United States and internationally. The company operates through three segments: Golf Clubs; Golf Balls; and Gear, Accessories and Other.

Read More: Why do companies engage in swaps?

Want to see what other hedge funds are holding ELY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Callaway Golf Co (NYSE:ELY).

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

Receive News & Ratings for Callaway Golf Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Callaway Golf and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply