Callaway Golf Sees Unusually Large Options Volume (ELY)

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Callaway Golf Co (NYSE:ELY) was the target of unusually large options trading activity on Wednesday. Traders acquired 1,063 put options on the stock. This is an increase of approximately 1,672% compared to the typical volume of 60 put options.

Several equities research analysts recently weighed in on ELY shares. Jefferies Financial Group reaffirmed a “buy” rating and set a $26.00 price objective on shares of Callaway Golf in a research report on Monday, October 29th. 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 Sunday, December 2nd. Compass Point raised shares of Callaway Golf from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 18th. Berenberg Bank started coverage on shares of Callaway Golf in a research report on Wednesday, February 13th. They set a “buy” rating and a $24.00 price objective for the company. Finally, Stephens started coverage on shares of Callaway Golf in a research report on Tuesday, January 8th. They set an “equal weight” rating and a $17.00 price objective for the company. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $22.31.

ELY stock opened at $17.06 on Thursday. The stock has a market capitalization of $1.58 billion, a PE ratio of 15.79, a P/E/G ratio of 0.66 and a beta of 1.03. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.73 and a quick ratio of 0.62. Callaway Golf has a 12 month low of $14.44 and a 12 month high of $24.67.

Callaway Golf (NYSE:ELY) last posted its earnings results on Wednesday, February 6th. The company reported ($0.32) EPS for the quarter, hitting analysts’ consensus estimates of ($0.32). The firm had revenue of $181.00 million during the quarter, compared to analysts’ expectations of $176.35 million. Callaway Golf had a net margin of 8.43% and a return on equity of 14.01%. The business’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.15) earnings per share. As a group, analysts anticipate that Callaway Golf will post 1.01 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 7th. Stockholders of record on Thursday, February 14th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Wednesday, February 13th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.23%. Callaway Golf’s dividend payout ratio (DPR) is currently 3.74%.

In other news, Director Russell L. Fleischer acquired 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 12th. The stock was acquired at an average price of $15.50 per share, with a total value of $77,500.00. Following the completion of the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $77,500. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.98% of the company’s stock.

Several hedge funds have recently bought and sold shares of ELY. Massey Quick Simon & CO. LLC increased its stake in shares of Callaway Golf by 50.0% in the fourth quarter. Massey Quick Simon & CO. LLC now owns 2,383 shares of the company’s stock valued at $36,000 after buying an additional 794 shares during the period. Pearl River Capital LLC acquired a new position in shares of Callaway Golf in the fourth quarter valued at approximately $74,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Callaway Golf by 26.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,523 shares of the company’s stock valued at $100,000 after buying an additional 1,376 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in shares of Callaway Golf in the third quarter valued at approximately $201,000. Finally, Everence Capital Management Inc. acquired a new position in shares of Callaway Golf in the third quarter valued at approximately $211,000. 87.65% of the stock is owned by hedge funds and other institutional investors.

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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 in the United States and internationally. The company operates through three segments: Golf Clubs; Golf Balls; and Gear, Accessories and Other.

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