Callaway Golf Company (ELY) : Traders are bullish on Callaway Golf Company (ELY) as it has outperformed the S&P 500 by a wide margin of 10.1% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 2.13%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 2.19% in the last 1 week, and is up 11.24% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 8.28% and the 50-Day Moving Average is 11.7%. Callaway Golf Company (NYSE:ELY): stock turned positive on Friday. Though the stock opened at $11.55, the bulls momentum made the stock top out at $11.73 level for the day. The stock recorded a low of $11.49 and closed the trading day at $11.68, in the green by 0.60%. The total traded volume for the day was 1,180,711. The stock had closed at $11.61 in the previous days trading.
The company Insiders own 2.1% of Callaway Golf Company shares according to the proxy statements. Institutional Investors own 81.56% of Callaway Golf Company shares. Also, FBR Capital initiates coverage on Callaway Golf Company (NYSE:ELY) . Analysts at the FBR Capital have a current rating of Outperform on the shares. The rating by the firm was issued on June 30, 2016.
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 Companys trademarks and service marks and sales of pre-owned golf clubs. The golf balls segment consists of the Companys 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 Companys products are sold in the United States and in approximately 100 countries around the world.