Massey Quick Simon & CO. LLC Raises Position in Callaway Golf Co (ELY)

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Massey Quick Simon & CO. LLC increased its position in shares of Callaway Golf Co (NYSE:ELY) by 30.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,097 shares of the company’s stock after purchasing an additional 714 shares during the quarter. Massey Quick Simon & CO. LLC’s holdings in Callaway Golf were worth $49,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hancock Whitney Corp increased its position in shares of Callaway Golf by 3.5% during the fourth quarter. Hancock Whitney Corp now owns 145,933 shares of the company’s stock worth $2,232,000 after purchasing an additional 4,894 shares in the last quarter. Legal & General Group Plc grew its holdings in Callaway Golf by 2.4% in the 3rd quarter. Legal & General Group Plc now owns 211,084 shares of the company’s stock valued at $5,118,000 after buying an additional 4,925 shares in the last quarter. Vanguard Group Inc. grew its holdings in Callaway Golf by 35.7% in the 3rd quarter. Vanguard Group Inc. now owns 7,338,764 shares of the company’s stock valued at $178,259,000 after buying an additional 1,929,680 shares in the last quarter. Quantamental Technologies LLC purchased a new stake in Callaway Golf in the 4th quarter valued at $137,000. Finally, Deutsche Bank AG grew its holdings in Callaway Golf by 34.4% in the 3rd quarter. Deutsche Bank AG now owns 1,394,585 shares of the company’s stock valued at $33,872,000 after buying an additional 357,045 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.

In other Callaway Golf news, Director Russell L. Fleischer purchased 5,000 shares of the firm’s stock in a transaction dated Tuesday, February 12th. The shares were acquired at an average price of $15.50 per share, with a total value of $77,500.00. Following the purchase, the director now directly owns 5,000 shares in the company, valued at approximately $77,500. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.97% of the company’s stock.

Shares of Callaway Golf stock opened at $16.91 on Wednesday. Callaway Golf Co has a 52 week low of $14.44 and a 52 week high of $24.67. The firm has a market capitalization of $1.59 billion, a PE ratio of 15.83, a price-to-earnings-growth ratio of 0.67 and a beta of 1.04. The company has a current ratio of 1.73, a quick ratio of 0.62 and a debt-to-equity ratio of 0.01.

Callaway Golf (NYSE:ELY) last announced its quarterly earnings results on Wednesday, February 6th. The company reported ($0.32) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.32). Callaway Golf had a return on equity of 14.01% and a net margin of 8.43%. The business had revenue of $181.00 million for the quarter, compared to analyst estimates of $176.35 million. During the same quarter in the prior year, the company posted ($0.15) EPS. The company’s quarterly revenue was down 5.7% on a year-over-year basis. Equities analysts forecast that Callaway Golf Co will post 1 earnings per share for the current fiscal year.

Several analysts have issued reports on the company. Berenberg Bank restated a “buy” rating and issued a $24.00 target price on shares of Callaway Golf in a report on Thursday, February 28th. Zacks Investment Research cut Callaway Golf from a “hold” rating to a “sell” rating in a report on Monday. Stephens assumed coverage on Callaway Golf in a report on Tuesday, January 8th. They issued an “equal weight” rating and a $17.00 target price for the company. Compass Point upgraded Callaway Golf from a “neutral” rating to a “buy” rating in a report on Tuesday, December 18th. Finally, ValuEngine upgraded Callaway Golf from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $22.31.

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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.

Read More: How is Preferred Stock Different from Common Stock?

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

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