Rice Hall James & Associates LLC Has $15.04 Million Stock Holdings in Callaway Golf Co (NYSE:ELY)

Rice Hall James & Associates LLC increased its position in shares of Callaway Golf Co (NYSE:ELY) by 29.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 876,567 shares of the company’s stock after buying an additional 197,927 shares during the quarter. Rice Hall James & Associates LLC owned 0.93% of Callaway Golf worth $15,042,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund lifted its stake in Callaway Golf by 1.7% during the second quarter. Oregon Public Employees Retirement Fund now owns 35,004 shares of the company’s stock worth $601,000 after purchasing an additional 600 shares during the period. Boston Advisors LLC lifted its stake in Callaway Golf by 0.6% during the first quarter. Boston Advisors LLC now owns 97,326 shares of the company’s stock worth $1,550,000 after purchasing an additional 621 shares during the period. Massey Quick Simon & CO. LLC lifted its stake in Callaway Golf by 30.0% during the first quarter. Massey Quick Simon & CO. LLC now owns 3,097 shares of the company’s stock worth $49,000 after purchasing an additional 714 shares during the period. Mason Street Advisors LLC lifted its stake in Callaway Golf by 3.4% during the first quarter. Mason Street Advisors LLC now owns 28,529 shares of the company’s stock worth $454,000 after purchasing an additional 942 shares during the period. Finally, US Bancorp DE lifted its stake in Callaway Golf by 0.8% during the first quarter. US Bancorp DE now owns 145,775 shares of the company’s stock worth $2,321,000 after purchasing an additional 1,114 shares during the period. 88.86% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:ELY traded down $0.41 during trading on Wednesday, reaching $17.62. The stock had a trading volume of 360,225 shares, compared to its average volume of 1,276,409. Callaway Golf Co has a 52 week low of $14.44 and a 52 week high of $24.67. The firm has a 50-day simple moving average of $17.97. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.59 and a quick ratio of 0.85. The company has a market cap of $1.74 billion, a PE ratio of 16.47, a PEG ratio of 0.71 and a beta of 1.24.

Callaway Golf (NYSE:ELY) last posted its earnings results 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. Callaway Golf had a net margin of 4.17% and a return on equity of 10.00%. The company had revenue of $446.71 million during the quarter, compared to analysts’ expectations of $430.12 million. During the same quarter in the previous year, the company posted $0.63 earnings per share. Callaway Golf’s quarterly revenue was up 12.7% compared to the same quarter last year. Equities research analysts anticipate that Callaway Golf Co will post 1.06 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Tuesday, August 13th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date of this dividend is Monday, August 12th. Callaway Golf’s dividend payout ratio (DPR) is currently 3.74%.

In related news, Director Russell L. Fleischer acquired 5,000 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The stock was purchased at an average price of $14.75 per share, for a total transaction of $73,750.00. Following the transaction, the director now directly owns 15,859 shares of the company’s stock, valued at approximately $233,920.25. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Richard H. Arnett sold 13,137 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was 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 owns 31,276 shares of the company’s stock, valued at approximately $625,520. The disclosure for this sale can be found here. Insiders bought 21,575 shares of company stock valued at $324,630 in the last quarter. 1.97% of the stock is currently owned by corporate insiders.

ELY has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of Callaway Golf from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research note on Friday, July 12th. 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 research note on Friday, August 9th. Roth Capital set a $19.00 price target on shares of Callaway Golf and gave the stock a “hold” rating in a research note on Thursday, June 13th. ValuEngine cut shares of Callaway Golf from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Berenberg Bank restated a “buy” rating and set a $24.00 price target on shares of Callaway Golf in a research note on Sunday, May 12th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $23.28.

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. 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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