Park West Asset Management LLC Invests $554,000 in Callaway Golf Company (ELY)

Park West Asset Management LLC purchased a new position in Callaway Golf Company (NYSE:ELY) during the first quarter, Holdings Channel reports. The fund purchased 50,000 shares of the company’s stock, valued at approximately $554,000.

Other hedge funds have also modified their holdings of the company. Metropolitan Life Insurance Co. NY increased its position in shares of Callaway Golf Company by 2.6% in the first quarter. Metropolitan Life Insurance Co. NY now owns 67,081 shares of the company’s stock worth $743,000 after buying an additional 1,710 shares during the last quarter. Naya Capital Management UK Ltd. increased its position in shares of Callaway Golf Company by 42.8% in the first quarter. Naya Capital Management UK Ltd. now owns 3,089,460 shares of the company’s stock worth $34,200,000 after buying an additional 926,385 shares during the last quarter. State Street Corp increased its position in shares of Callaway Golf Company by 3.3% in the first quarter. State Street Corp now owns 2,155,825 shares of the company’s stock worth $23,869,000 after buying an additional 69,111 shares during the last quarter. Bank of America Corp DE increased its position in shares of Callaway Golf Company by 35.4% in the first quarter. Bank of America Corp DE now owns 428,580 shares of the company’s stock worth $4,745,000 after buying an additional 111,957 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its position in shares of Callaway Golf Company by 5.4% in the first quarter. Schwab Charles Investment Management Inc. now owns 407,847 shares of the company’s stock worth $4,515,000 after buying an additional 20,955 shares during the last quarter. Hedge funds and other institutional investors own 87.39% of the company’s stock.

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

Callaway Golf Company (NYSE ELY) traded up 1.32% on Wednesday, reaching $12.25. 799,651 shares of the company traded hands. Callaway Golf Company has a 52-week low of $9.50 and a 52-week high of $13.35. The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of 6.62 and a beta of 1.21. The firm has a 50 day moving average price of $12.64 and a 200 day moving average price of $11.54.

Callaway Golf Company (NYSE:ELY) last announced its quarterly earnings results on Thursday, May 4th. The company reported $0.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.08. The business had revenue of $309 million during the quarter, compared to analysts’ expectations of $283.68 million. Callaway Golf Company had a return on equity of 7.33% and a net margin of 19.56%. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.26 EPS. Equities research analysts predict that Callaway Golf Company will post $0.36 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 13th. Investors of record on Tuesday, May 23rd were paid a $0.01 dividend. The ex-dividend date of this dividend was Friday, May 19th. This represents a $0.04 annualized dividend and a dividend yield of 0.33%. Callaway Golf Company’s payout ratio is 2.16%.

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ELY has been the subject of a number of research analyst reports. Forward View reiterated a “buy” rating on shares of Callaway Golf Company in a report on Wednesday, February 22nd. Zacks Investment Research upgraded shares of Callaway Golf Company from a “sell” rating to a “hold” rating in a report on Monday, March 13th. KeyCorp reiterated a “positive” rating and issued a $16.00 price target on shares of Callaway Golf Company in a report on Tuesday, March 21st. Pacific Crest reiterated a “positive” rating and issued a $16.00 price target on shares of Callaway Golf Company in a report on Tuesday, March 21st. Finally, Imperial Capital reiterated an “outperform” rating and issued a $13.00 price target on shares of Callaway Golf Company in a report on Tuesday, March 21st. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $14.38.

In other Callaway Golf Company news, SVP Alan Hocknell sold 10,759 shares of the company’s stock in a transaction that occurred on Monday, April 17th. The stock was sold at an average price of $11.60, for a total transaction of $124,804.40. Following the completion of the sale, the senior vice president now owns 57,907 shares of the company’s stock, valued at $671,721.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alex Mitchell Boezeman sold 200,820 shares of the company’s stock in a transaction that occurred on Tuesday, April 18th. The stock was sold at an average price of $11.75, for a total value of $2,359,635.00. Following the sale, the insider now directly owns 158,950 shares of the company’s stock, valued at approximately $1,867,662.50. The disclosure for this sale can be found here. In the last three months, insiders sold 389,291 shares of company stock valued at $4,533,629. 2.59% of the stock is currently owned by company insiders.

About Callaway Golf Company

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “ELY”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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