ClariVest Asset Management LLC lessened its stake in shares of Callaway Golf Co (NYSE:ELY) by 10.4% in the first quarter, Holdings Channel reports. The institutional investor owned 263,549 shares of the company’s stock after selling 30,705 shares during the quarter. ClariVest Asset Management LLC’s holdings in Callaway Golf were worth $4,198,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently bought and sold shares of ELY. Zions Bancorporation N.A. purchased a new stake in Callaway Golf during the first quarter worth about $33,000. Oregon Public Employees Retirement Fund purchased a new position in shares of Callaway Golf in the fourth quarter worth about $34,000. Valeo Financial Advisors LLC purchased a new position in shares of Callaway Golf in the first quarter worth about $47,000. Massey Quick Simon & CO. LLC increased its stake in shares of Callaway Golf by 30.0% in the first quarter. Massey Quick Simon & CO. LLC now owns 3,097 shares of the company’s stock worth $49,000 after purchasing an additional 714 shares in the last quarter. Finally, Pearl River Capital LLC purchased a new position in shares of Callaway Golf in the fourth quarter worth about $74,000. Institutional investors and hedge funds own 89.50% of the company’s stock.
In related news, Director Russell L. Fleischer bought 5,000 shares of the company’s stock in a transaction on Thursday, May 23rd. The stock was acquired at an average cost of $14.75 per share, for a total transaction of $73,750.00. Following the completion of the transaction, the director now directly owns 15,859 shares in the company, valued at approximately $233,920.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Oliver G. Brewer III bought 10,000 shares of the company’s stock in a transaction on Monday, May 20th. The shares were bought at an average price of $15.14 per share, with a total value of $151,400.00. The disclosure for this purchase can be found here. Insiders bought 21,575 shares of company stock valued at $324,630 over the last 90 days. 1.97% of the stock is owned by company insiders.
ELY stock opened at $15.73 on Wednesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.59 and a quick ratio of 0.85. Callaway Golf Co has a 12 month low of $14.44 and a 12 month high of $24.67. The company has a market capitalization of $1.50 billion, a PE ratio of 14.70, a PEG ratio of 0.61 and a beta of 1.19.
Callaway Golf (NYSE:ELY) last released its quarterly earnings data on Thursday, May 9th. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.14. Callaway Golf had a net margin of 6.68% and a return on equity of 13.42%. The company had revenue of $516.20 million during the quarter, compared to analyst estimates of $504.07 million. During the same period last year, the business earned $0.65 earnings per share. Callaway Golf’s revenue was up 28.0% compared to the same quarter last year. Equities research analysts predict that Callaway Golf Co will post 1.04 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Tuesday, May 21st were given a $0.01 dividend. The ex-dividend date was Monday, May 20th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.25%. Callaway Golf’s dividend payout ratio (DPR) is currently 3.74%.
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.
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