Cubist Systematic Strategies LLC reduced its stake in shares of Callaway Golf Co (NYSE:ELY) by 57.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,504 shares of the company’s stock after selling 19,279 shares during the period. Cubist Systematic Strategies LLC’s holdings in Callaway Golf were worth $209,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in ELY. Riverhead Capital Management LLC lifted its holdings in shares of Callaway Golf by 69.9% during the 2nd quarter. Riverhead Capital Management LLC now owns 8,326 shares of the company’s stock worth $106,000 after acquiring an additional 3,426 shares during the period. C M Bidwell & Associates Ltd. purchased a new position in shares of Callaway Golf during the 2nd quarter worth about $109,000. Flinton Capital Management LLC lifted its holdings in shares of Callaway Golf by 71.6% during the 2nd quarter. Flinton Capital Management LLC now owns 11,322 shares of the company’s stock worth $145,000 after acquiring an additional 4,726 shares during the period. Amalgamated Bank lifted its holdings in shares of Callaway Golf by 1.3% during the 2nd quarter. Amalgamated Bank now owns 12,821 shares of the company’s stock worth $164,000 after acquiring an additional 160 shares during the period. Finally, Allianz Asset Management GmbH purchased a new position in shares of Callaway Golf during the 3rd quarter worth about $182,000. Institutional investors and hedge funds own 88.11% of the company’s stock.

Callaway Golf Co (ELY) opened at $13.69 on Thursday. Callaway Golf Co has a 1-year low of $9.93 and a 1-year high of $15.63. The company has a market cap of $1,290.00, a P/E ratio of 7.17, a P/E/G ratio of 1.59 and a beta of 1.11.

Callaway Golf (NYSE:ELY) last posted its quarterly earnings results on Wednesday, October 25th. The company reported $0.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.09. Callaway Golf had a net margin of 17.97% and a return on equity of 7.88%. The firm had revenue of $243.60 million for the quarter, compared to analyst estimates of $209.52 million. During the same quarter last year, the firm posted ($0.06) earnings per share. Callaway Golf’s revenue for the quarter was up 29.7% compared to the same quarter last year. analysts forecast that Callaway Golf Co will post 0.51 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 13th. Shareholders of record on Wednesday, November 22nd were given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.29%. The ex-dividend date was Tuesday, November 21st. Callaway Golf’s dividend payout ratio (DPR) is 2.09%.

In other Callaway Golf news, SVP Brian P. Lynch sold 6,277 shares of the stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $15.42, for a total value of $96,791.34. Following the completion of the sale, the senior vice president now owns 46,184 shares of the company’s stock, valued at $712,157.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jennifer L. Thomas sold 8,503 shares of the stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $14.95, for a total transaction of $127,119.85. Following the completion of the sale, the insider now directly owns 28,143 shares of the company’s stock, valued at approximately $420,737.85. The disclosure for this sale can be found here. Insiders sold 46,588 shares of company stock valued at $694,031 in the last ninety days. 2.59% of the stock is owned by corporate insiders.

ELY has been the topic of several recent analyst reports. Compass Point lowered shares of Callaway Golf from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $15.06 to $13.50 in a report on Wednesday, December 27th. KeyCorp set a $16.00 price objective on shares of Callaway Golf and gave the stock a “buy” rating in a report on Saturday, October 21st. Raymond James Financial reiterated a “hold” rating on shares of Callaway Golf in a report on Wednesday, December 27th. DA Davidson set a $18.00 price objective on shares of Callaway Golf and gave the stock a “buy” rating in a report on Wednesday, December 27th. Finally, Jefferies Group reiterated a “buy” rating and set a $18.00 price objective on shares of Callaway Golf in a report on Thursday, October 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the company. Callaway Golf presently has an average rating of “Buy” and an average target price of $15.82.

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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.

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

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