Stephens Inc. AR Invests $505,000 in Callaway Golf (NYSE:ELY)

Stephens Inc. AR bought a new position in shares of Callaway Golf (NYSE:ELYGet Rating) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 21,547 shares of the company’s stock, valued at approximately $505,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Providence Equity Partners L.L.C. bought a new stake in Callaway Golf in the 4th quarter valued at $571,349,000. TimesSquare Capital Management LLC boosted its stake in Callaway Golf by 55.3% in the 4th quarter. TimesSquare Capital Management LLC now owns 2,518,785 shares of the company’s stock valued at $69,115,000 after purchasing an additional 896,940 shares during the period. Kennedy Capital Management Inc. boosted its stake in Callaway Golf by 35.4% in the 4th quarter. Kennedy Capital Management Inc. now owns 987,097 shares of the company’s stock valued at $27,086,000 after purchasing an additional 258,256 shares during the period. River & Mercantile Asset Management LLP bought a new stake in Callaway Golf in the 4th quarter valued at $6,501,000. Finally, Boston Partners boosted its stake in Callaway Golf by 2.2% in the 4th quarter. Boston Partners now owns 5,242,973 shares of the company’s stock valued at $143,780,000 after purchasing an additional 110,967 shares during the period. 87.20% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Callaway Golf news, Director Erik J. Anderson sold 9,992 shares of the company’s stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $20.81, for a total value of $207,933.52. Following the completion of the transaction, the director now owns 651,821 shares of the company’s stock, valued at approximately $13,564,395.01. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 13.46% of the company’s stock.

Callaway Golf Price Performance

Callaway Golf stock opened at $23.08 on Wednesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.74 and a current ratio of 1.21. Callaway Golf has a 52 week low of $17.78 and a 52 week high of $34.24. The stock has a market capitalization of $4.26 billion, a P/E ratio of 33.94, a price-to-earnings-growth ratio of 1.46 and a beta of 1.76. The stock has a fifty day moving average of $21.38 and a 200-day moving average of $22.37.

Callaway Golf (NYSE:ELYGet Rating) last issued 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. Callaway Golf had a return on equity of 3.56% and a net margin of 3.87%. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the prior year, the firm earned $0.62 EPS. The business’s revenue for the quarter was up 59.6% compared to the same quarter last year. On average, sell-side analysts expect that Callaway Golf will post 0.79 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Callaway Golf Profile

(Get Rating)

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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