Punch & Associates Investment Management Inc. Acquires 20,875 Shares of Callaway Golf Co (NYSE:ELY)

Punch & Associates Investment Management Inc. increased its holdings in shares of Callaway Golf Co (NYSE:ELY) by 2.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 970,306 shares of the company’s stock after acquiring an additional 20,875 shares during the period. Callaway Golf makes up 1.3% of Punch & Associates Investment Management Inc.’s investment portfolio, making the stock its 7th largest holding. Punch & Associates Investment Management Inc.’s holdings in Callaway Golf were worth $15,457,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Zions Bancorporation N.A. purchased a new position in shares of Callaway Golf during the first quarter valued at approximately $33,000. Oregon Public Employees Retirement Fund purchased a new position in shares of Callaway Golf during the fourth quarter valued at approximately $34,000. Valeo Financial Advisors LLC purchased a new position in shares of Callaway Golf during the first quarter valued at approximately $47,000. Massey Quick Simon & CO. LLC raised its holdings in shares of Callaway Golf by 30.0% during the first quarter. Massey Quick Simon & CO. LLC now owns 3,097 shares of the company’s stock valued at $49,000 after purchasing an additional 714 shares during the last quarter. Finally, Pearl River Capital LLC purchased a new position in shares of Callaway Golf during the fourth quarter valued at approximately $74,000. 89.50% of the stock is currently owned by institutional investors and hedge funds.

ELY stock traded down $0.15 during midday trading on Friday, reaching $18.04. 40,231 shares of the company’s stock traded hands, compared to its average volume of 1,859,042. Callaway Golf Co has a 52-week low of $14.44 and a 52-week high of $24.67. The stock has a market cap of $1.50 billion, a P/E ratio of 16.83, a P/E/G ratio of 0.61 and a beta of 1.19. The company has a current ratio of 1.59, a quick ratio of 0.85 and a debt-to-equity ratio of 0.76.

Callaway Golf (NYSE:ELY) last announced its earnings results on Thursday, May 9th. The company reported $0.63 EPS for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.14. Callaway Golf had a net margin of 6.68% and a return on equity of 13.42%. The business had revenue of $516.20 million during the quarter, compared to analysts’ expectations of $504.07 million. During the same period in the prior year, the company earned $0.65 earnings per share. The firm’s revenue was up 28.0% on a year-over-year basis. As a group, equities analysts forecast that Callaway Golf Co will post 1.04 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Shareholders of record on Tuesday, May 21st were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, May 20th. This represents a $0.04 dividend on an annualized basis and a yield of 0.22%. Callaway Golf’s dividend payout ratio is currently 3.74%.

ELY has been the subject of several research reports. Zacks Investment Research raised shares of Callaway Golf from a “sell” rating to a “hold” rating in a report on Monday, April 1st. Berenberg Bank reissued a “buy” rating and set a $24.00 price objective on shares of Callaway Golf in a report on Thursday, February 28th. ValuEngine raised shares of Callaway Golf from a “sell” rating to a “hold” rating in a report on Monday, June 3rd. Finally, Roth Capital set a $19.00 target price on shares of Callaway Golf and gave the company a “hold” rating in a report on Thursday. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Callaway Golf has an average rating of “Buy” and an average price target of $23.09.

In other news, CEO Oliver G. Brewer III acquired 10,000 shares of Callaway Golf stock in a transaction dated Monday, May 20th. The stock was purchased at an average cost of $15.14 per share, with a total value of $151,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Brian P. Lynch acquired 6,575 shares of Callaway Golf stock in a transaction dated Monday, May 20th. The stock was purchased at an average cost of $15.13 per share, with a total value of $99,479.75. Following the completion of the purchase, the chief financial officer now owns 31,967 shares of the company’s stock, valued at $483,660.71. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 21,575 shares of company stock valued at $324,630. 1.97% of the stock is owned by corporate insiders.

COPYRIGHT VIOLATION NOTICE: This piece was originally posted by Community Financial News and is the property of of Community Financial News. If you are viewing this piece on another publication, it was illegally stolen and republished in violation of US and international copyright & trademark legislation. The correct version of this piece can be read at https://www.com-unik.info/2019/06/14/punch-associates-investment-management-inc-acquires-20875-shares-of-callaway-golf-co-nyseely.html.

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.

Further Reading: What is a Tariff?

Want to see what other hedge funds are holding ELY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Callaway Golf Co (NYSE:ELY).

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

Receive News & Ratings for Callaway Golf Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Callaway Golf and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit