Two Sigma Investments LP Reduces Position in Callaway Golf Co (NYSE:ELY)

Two Sigma Investments LP cut its stake in shares of Callaway Golf Co (NYSE:ELY) by 1.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 598,241 shares of the company’s stock after selling 7,747 shares during the period. Two Sigma Investments LP owned 0.63% of Callaway Golf worth $9,153,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its stake in shares of Callaway Golf by 3.0% during the second quarter. Bank of New York Mellon Corp now owns 1,607,354 shares of the company’s stock valued at $30,492,000 after acquiring an additional 47,097 shares during the period. Russell Investments Group Ltd. lifted its stake in Callaway Golf by 59.0% in the third quarter. Russell Investments Group Ltd. now owns 126,851 shares of the company’s stock valued at $3,071,000 after buying an additional 47,092 shares during the period. American Century Companies Inc. acquired a new position in Callaway Golf in the third quarter valued at about $264,000. JPMorgan Chase & Co. lifted its stake in Callaway Golf by 2.7% in the third quarter. JPMorgan Chase & Co. now owns 164,108 shares of the company’s stock valued at $3,986,000 after buying an additional 4,345 shares during the period. Finally, Jennison Associates LLC acquired a new position in Callaway Golf in the third quarter valued at about $566,000. 91.64% of the stock is owned by institutional investors.

Shares of NYSE:ELY traded up $0.24 during mid-day trading on Monday, reaching $16.78. 1,097,556 shares of the stock were exchanged, compared to its average volume of 1,059,461. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.62 and a current ratio of 1.73. The company has a market cap of $1.62 billion, a PE ratio of 15.68, a PEG ratio of 0.66 and a beta of 1.04. Callaway Golf Co has a one year low of $14.44 and a one year high of $24.67.

Callaway Golf (NYSE:ELY) last posted its quarterly earnings data on Wednesday, February 6th. The company reported ($0.32) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.32). The business had revenue of $181.00 million during the quarter, compared to the consensus estimate of $176.35 million. Callaway Golf had a return on equity of 14.01% and a net margin of 8.43%. Callaway Golf’s quarterly revenue was down 5.7% on a year-over-year basis. During the same period last year, the company earned ($0.15) earnings per share. On average, research analysts predict that Callaway Golf Co will post 1 earnings per share for the current fiscal year.

ELY has been the topic of several analyst reports. Zacks Investment Research lowered Callaway Golf from a “hold” rating to a “sell” rating in a research note on Monday, January 14th. Berenberg Bank reissued a “buy” rating and issued a $24.00 target price on shares of Callaway Golf in a research note on Thursday, February 28th. Imperial Capital cut their target price on Callaway Golf from $25.00 to $22.00 and set an “outperform” rating on the stock in a research note on Thursday, February 7th. ValuEngine upgraded Callaway Golf from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Finally, JPMorgan Chase & Co. started coverage on Callaway Golf in a report on Thursday, December 20th. They issued a “hold” rating and a $23.00 price target for the company. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Callaway Golf presently has a consensus rating of “Hold” and a consensus target price of $22.31.

In other news, Director Russell L. Fleischer acquired 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 12th. The stock was acquired at an average cost of $15.50 per share, for a total transaction of $77,500.00. Following the completion of the acquisition, the director now owns 5,000 shares in the company, valued at $77,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.97% of the stock is currently owned by company insiders.

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Callaway Golf Profile

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.

Further Reading: Dollar Cost Averaging

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

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