Birch Grove Capital Lp Exits Position in Callaway Golf Co (ELY)

Callaway Golf Co (ELY) : Birch Grove Capital Lp has sold out all of its stake in Callaway Golf Co during the most recent quarter, according to the disclosure filed by the company on Aug 15, 2016 with the SEC. The investment management company has sold out 113,880 shares of Callaway Golf Co which is valued at $1,330,118.

Other Hedge Funds, Including , Jacobs Levy Equity Management Inc sold out all of its stake in ELY during the most recent quarter. The investment firm sold 299,000 shares of ELY which is valued $3,492,320. Ashford Investment Management sold out all of its stake in ELY during the most recent quarter. The investment firm sold 455,000 shares of ELY which is valued $5,314,400.California State Teachers Retirement System boosted its stake in ELY in the latest quarter, The investment management firm added 32,377 additional shares and now holds a total of 197,730 shares of Callaway Golf Co which is valued at $2,091,983.

Callaway Golf Co opened for trading at $11.48 and hit $11.54 on the upside on Thursday, eventually ending the session at $11.5, with a gain of 0.70% or 0.08 points. The heightened volatility saw the trading volume jump to 13,16,485 shares. Company has a market cap of $1,081 M.

On the company’s financial health, Callaway Golf Co reported $0.36 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $0.31. The company had revenue of $245.60 million for the quarter, compared to analysts expectations of $242.54 million. The company’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.15 EPS.

Many Wall Street Analysts have commented on Callaway Golf Co. Company shares were Reiterated by Imperial Capital on Aug 2, 2016 to “Outperform”, Firm has raised the Price Target to $ 14 from a previous price target of $13 .ROTH Capital Resumed Callaway Golf Co on Jun 30, 2016 to “Buy”, Price Target of the shares are set at $11.FBR Capital Initiated Callaway Golf Co on Jun 30, 2016 to “Outperform”, Price Target of the shares are set at $12.

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 the Company’s trademarks and service marks and sales of pre-owned golf clubs. The golf balls segment consists of the Company’s balls that are designed manufactured and sold by the Company. The Company sells pre-owned golf products through its Website www.callawaygolfpreowned.com. In addition the Company sells Odyssey and its products direct to consumers through its Websites www.callawaygolf.com and www.odysseygolf.com. The Company’s products are sold in the United States and in approximately 100 countries around the world.

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