UBS Asset Management Americas Inc. Increases Stake in Callaway Golf Company (ELY)

UBS Asset Management Americas Inc. lifted its position in Callaway Golf Company (NYSE:ELY) by 10.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 35,892 shares of the company’s stock after acquiring an additional 3,471 shares during the period. UBS Asset Management Americas Inc.’s holdings in Callaway Golf were worth $459,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Callaway Golf by 56,247.6% in the 1st quarter. BlackRock Inc. now owns 11,700,569 shares of the company’s stock worth $129,526,000 after acquiring an additional 11,679,804 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Callaway Golf by 7.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,789,240 shares of the company’s stock worth $64,087,000 after acquiring an additional 381,438 shares in the last quarter. State Street Corp raised its position in shares of Callaway Golf by 3.3% in the 1st quarter. State Street Corp now owns 2,155,825 shares of the company’s stock worth $23,869,000 after acquiring an additional 69,111 shares in the last quarter. Bernzott Capital Advisors raised its position in shares of Callaway Golf by 5.9% in the 2nd quarter. Bernzott Capital Advisors now owns 1,655,112 shares of the company’s stock worth $21,152,000 after acquiring an additional 91,975 shares in the last quarter. Finally, Teachers Advisors LLC raised its position in shares of Callaway Golf by 1.0% in the 2nd quarter. Teachers Advisors LLC now owns 1,108,652 shares of the company’s stock worth $14,169,000 after acquiring an additional 10,937 shares in the last quarter. 88.99% of the stock is owned by hedge funds and other institutional investors.

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In other news, insider Oliver G. Brewer III sold 131,884 shares of the company’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $13.31, for a total transaction of $1,755,376.04. Following the transaction, the insider now directly owns 291,399 shares of the company’s stock, valued at $3,878,520.69. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Alan Hocknell sold 57,138 shares of the company’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $13.30, for a total value of $759,935.40. Following the transaction, the senior vice president now directly owns 115,045 shares in the company, valued at $1,530,098.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 295,893 shares of company stock worth $4,016,299. Insiders own 2.59% of the company’s stock.

Several brokerages have recently issued reports on ELY. Zacks Investment Research lowered Callaway Golf from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 25th. KeyCorp restated an “overweight” rating and issued a $16.00 price target on shares of Callaway Golf in a research note on Wednesday, August 30th. FBR & Co set a $16.00 price target on Callaway Golf and gave the stock a “buy” rating in a research note on Thursday. Compass Point downgraded Callaway Golf from a “buy” rating to a “neutral” rating and upped their price target for the stock from $13.60 to $13.75 in a research note on Monday, August 7th. Finally, Jefferies Group LLC set a $18.00 price target on Callaway Golf and gave the stock a “buy” rating in a research note on Friday, August 4th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $15.67.

Shares of Callaway Golf Company (NYSE ELY) opened at 14.42 on Monday. Callaway Golf Company has a 52 week low of $9.77 and a 52 week high of $15.63. The stock has a market capitalization of $1.36 billion, a P/E ratio of 7.97 and a beta of 1.17. The firm’s 50-day moving average price is $14.19 and its 200 day moving average price is $13.05.

Callaway Golf (NYSE:ELY) last issued its quarterly earnings results on Wednesday, October 25th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.09. The business had revenue of $243.60 million for the quarter, compared to the consensus estimate of $209.52 million. Callaway Golf had a return on equity of 7.88% and a net margin of 17.97%. The business’s quarterly revenue was up 29.7% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.06) earnings per share. Analysts expect that Callaway Golf Company will post $0.49 earnings per share for the current year.

Callaway Golf Profile

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.

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

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