Punch Associates Investment Management Lowers stake in Callaway Golf Co (ELY)

Callaway Golf Co (ELY) : Punch Associates Investment Management reduced its stake in Callaway Golf Co by 0.24% during the most recent quarter end. The investment management company now holds a total of 1,234,889 shares of Callaway Golf Co which is valued at $12,991,032 after selling 2,946 shares in Callaway Golf Co , the firm said in a disclosure report filed with the SEC on Jul 15, 2016.Callaway Golf Co makes up approximately 1.45% of Punch Associates Investment Management’s portfolio.

Other Hedge Funds, Including , Independent Portfolio Consultants boosted its stake in ELY in the latest quarter, The investment management firm added 20,705 additional shares and now holds a total of 56,235 shares of Callaway Golf Co which is valued at $591,592. Callaway Golf Co makes up approx 0.18% of Independent Portfolio Consultants’s portfolio.Capstone Asset Management Co boosted its stake in ELY in the latest quarter, The investment management firm added 460 additional shares and now holds a total of 25,070 shares of Callaway Golf Co which is valued at $262,483. Callaway Golf Co makes up approx 0.01% of Capstone Asset Management Co’s portfolio.Creative Planning boosted its stake in ELY in the latest quarter, The investment management firm added 710 additional shares and now holds a total of 5,163 shares of Callaway Golf Co which is valued at $54,057. Laurel Wealth Advisors added ELY to its portfolio by purchasing 23,235 company shares during the most recent quarter which is valued at $244,200. Callaway Golf Co makes up approx 0.12% of Laurel Wealth Advisors’s portfolio.Bnp Paribas Arbitrage Sa boosted its stake in ELY in the latest quarter, The investment management firm added 16,133 additional shares and now holds a total of 32,196 shares of Callaway Golf Co which is valued at $338,380.

Callaway Golf Co opened for trading at $10.54 and hit $10.58 on the upside on Monday, eventually ending the session at $10.52, with a gain of 0.19% or 0.02 points. The heightened volatility saw the trading volume jump to 4,64,681 shares. Company has a market cap of $988 M.

On the company’s financial health, Callaway Golf Co reported $0.40 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Apr 27, 2016. Analyst had a consensus of $0.38. The company had revenue of $274.10 million for the quarter, compared to analysts expectations of $280.84 million. The company’s revenue was down -3.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.39 EPS.

Many Wall Street Analysts have commented on Callaway Golf Co. 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.Company shares were Upgraded by Wunderlich on May 23, 2016 to ” Buy”, Firm has raised the Price Target to $ 12 from a previous price target of $10 .

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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