Alpha Windward LLC Takes Position in Callaway Golf Co (NYSE:ELY)

Alpha Windward LLC purchased a new position in Callaway Golf Co (NYSE:ELY) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 35,640 shares of the company’s stock, valued at approximately $496,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of ELY. Riverhead Capital Management LLC grew its holdings in shares of Callaway Golf by 69.9% during the second quarter. Riverhead Capital Management LLC now owns 8,326 shares of the company’s stock worth $106,000 after buying an additional 3,426 shares in the last quarter. C M Bidwell & Associates Ltd. purchased a new stake in shares of Callaway Golf during the second quarter worth $109,000. Flinton Capital Management LLC grew its holdings in shares of Callaway Golf by 71.6% during the second quarter. Flinton Capital Management LLC now owns 11,322 shares of the company’s stock worth $145,000 after buying an additional 4,726 shares in the last quarter. Amalgamated Bank grew its holdings in shares of Callaway Golf by 1.3% during the second quarter. Amalgamated Bank now owns 12,821 shares of the company’s stock worth $164,000 after buying an additional 160 shares in the last quarter. Finally, Allianz Asset Management GmbH purchased a new stake in shares of Callaway Golf during the third quarter worth $182,000. 89.58% of the stock is owned by institutional investors.

A number of equities research analysts have recently issued reports on the stock. B. Riley reaffirmed a “buy” rating on shares of Callaway Golf in a report on Wednesday, November 1st. Cowen raised shares of Callaway Golf from a “sell” rating to a “neutral” rating and set a $14.00 price target on the stock in a research report on Wednesday. DA Davidson set a $18.00 price target on shares of Callaway Golf and gave the company a “buy” rating in a research report on Wednesday, December 27th. Roth Capital set a $17.00 price target on shares of Callaway Golf and gave the company a “buy” rating in a research report on Monday, February 5th. Finally, Forward View reissued a “hold” rating on shares of Callaway Golf in a research report on Saturday, October 28th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $16.40.

In other Callaway Golf news, insider Neil Howie sold 24,838 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $15.75, for a total value of $391,198.50. Following the transaction, the insider now owns 95,803 shares of the company’s stock, valued at $1,508,897.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Alex Mitchell Boezeman sold 16,738 shares of the company’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $15.31, for a total transaction of $256,258.78. Following the completion of the transaction, the insider now directly owns 120,873 shares in the company, valued at approximately $1,850,565.63. The disclosure for this sale can be found here. Insiders sold 67,487 shares of company stock worth $1,031,977 in the last ninety days. 2.59% of the stock is currently owned by corporate insiders.

Callaway Golf Co (NYSE:ELY) traded down $0.32 during midday trading on Friday, reaching $14.80. 1,825,124 shares of the company’s stock were exchanged, compared to its average volume of 966,895. Callaway Golf Co has a 52 week low of $9.99 and a 52 week high of $15.95. The firm has a market capitalization of $1,399.13, a PE ratio of 34.42, a P/E/G ratio of 1.46 and a beta of 1.15.

Callaway Golf (NYSE:ELY) last posted its earnings results on Wednesday, February 7th. The company reported ($0.15) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.17) by $0.02. Callaway Golf had a net margin of 3.89% and a return on equity of 7.85%. The company had revenue of $192.00 million for the quarter, compared to analysts’ expectations of $184.74 million. During the same quarter in the prior year, the company posted ($0.09) earnings per share. Callaway Golf’s revenue for the quarter was up 17.1% compared to the same quarter last year. sell-side analysts expect that Callaway Golf Co will post 0.69 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 7th. Shareholders of record on Wednesday, February 14th will be given a $0.01 dividend. The ex-dividend date is Tuesday, February 13th. This represents a $0.04 dividend on an annualized basis and a yield of 0.27%. Callaway Golf’s payout ratio is currently 9.30%.

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Callaway Golf 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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