Landscape Capital Management L.L.C. purchased a new stake in shares of Callaway Golf Co (NYSE:ELY) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 450,776 shares of the company’s stock, valued at approximately $7,735,000. Callaway Golf makes up 0.6% of Landscape Capital Management L.L.C.’s investment portfolio, making the stock its 21st biggest holding. Landscape Capital Management L.L.C. owned about 0.48% of Callaway Golf at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the business. Zions Bancorporation N.A. purchased a new stake in shares of Callaway Golf in the 1st quarter valued at $33,000. Nisa Investment Advisors LLC purchased a new stake in Callaway Golf during the second quarter worth $34,000. FNY Investment Advisers LLC purchased a new stake in Callaway Golf during the second quarter worth $34,000. Valeo Financial Advisors LLC purchased a new stake in Callaway Golf during the first quarter worth $47,000. Finally, Massey Quick Simon & CO. LLC boosted its holdings in Callaway Golf by 30.0% during the first quarter. Massey Quick Simon & CO. LLC now owns 3,097 shares of the company’s stock worth $49,000 after buying an additional 714 shares in the last quarter. Institutional investors and hedge funds own 88.86% of the company’s stock.
In related news, EVP Richard H. Arnett sold 13,137 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $20.00, for a total transaction of $262,740.00. Following the completion of the sale, the executive vice president now directly owns 31,276 shares in the company, valued at $625,520. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Brian P. Lynch acquired 6,575 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The shares were purchased at an average price of $15.13 per share, with a total value of $99,479.75. Following the completion of the transaction, the chief financial officer now owns 31,967 shares of the company’s stock, valued at approximately $483,660.71. The disclosure for this purchase can be found here. Insiders bought 21,575 shares of company stock valued at $324,630 over the last quarter. Company insiders own 1.97% of the company’s stock.
A number of analysts recently issued reports on ELY shares. ValuEngine downgraded shares of Callaway Golf from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Berenberg Bank restated a “buy” rating and set a $24.00 price objective on shares of Callaway Golf in a research report on Sunday, May 12th. B. Riley set a $30.00 price objective on shares of Callaway Golf and gave the stock a “buy” rating in a research report on Friday, July 19th. Roth Capital set a $19.00 price objective on shares of Callaway Golf and gave the stock a “hold” rating in a research report on Thursday, June 13th. Finally, Zacks Investment Research upgraded shares of Callaway Golf from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research report on Friday, July 12th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $23.28.
Shares of NYSE ELY traded down $0.68 during mid-day trading on Wednesday, reaching $17.75. The company’s stock had a trading volume of 104,787 shares, compared to its average volume of 1,276,409. The business has a 50-day simple moving average of $17.97. The firm has a market cap of $1.74 billion, a PE ratio of 16.47, a P/E/G ratio of 0.71 and a beta of 1.24. The company has a quick ratio of 0.85, a current ratio of 1.59 and a debt-to-equity ratio of 0.76. Callaway Golf Co has a 1-year low of $14.44 and a 1-year high of $24.67.
Callaway Golf (NYSE:ELY) last issued its earnings results on Thursday, August 8th. The company reported $0.37 EPS for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.12. The business had revenue of $446.71 million during the quarter, compared to analysts’ expectations of $430.12 million. Callaway Golf had a net margin of 4.17% and a return on equity of 10.00%. The company’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.63 earnings per share. As a group, equities analysts predict that Callaway Golf Co will post 1.06 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Tuesday, August 13th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date is Monday, August 12th. Callaway Golf’s dividend payout ratio (DPR) is 3.74%.
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.
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