Callaway Golf (NYSE:ELY) shares traded down 7.5% on Wednesday . The stock traded as low as $16.35 and last traded at $16.39. 2,266,910 shares were traded during trading, an increase of 140% from the average session volume of 945,741 shares. The stock had previously closed at $17.71.
Several research analysts have weighed in on the stock. DA Davidson downgraded shares of Callaway Golf from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $17.71 to $19.00 in a report on Wednesday. They noted that the move was a valuation call. ValuEngine upgraded shares of Callaway Golf from a “buy” rating to a “strong-buy” rating in a report on Monday, April 2nd. Zacks Investment Research downgraded shares of Callaway Golf from a “buy” rating to a “hold” rating in a report on Wednesday, March 7th. TheStreet upgraded shares of Callaway Golf from a “c+” rating to a “b” rating in a report on Wednesday, February 14th. Finally, Compass Point downgraded shares of Callaway Golf from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $15.06 to $13.50 in a report on Wednesday, December 27th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $16.74.
The firm has a market cap of $1,653.21, a P/E ratio of 30.92, a PEG ratio of 1.67 and a beta of 1.03. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.65 and a current ratio of 1.48.
In related news, SVP Brian P. Lynch sold 25,911 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $14.84, for a total transaction of $384,519.24. Following the completion of the transaction, the senior vice president now owns 31,599 shares in the company, valued at $468,929.16. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Neil Howie sold 24,838 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $15.75, for a total transaction of $391,198.50. Following the transaction, the insider now owns 95,803 shares of the company’s stock, valued at approximately $1,508,897.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 237,409 shares of company stock valued at $3,783,462. 1.98% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Elkfork Partners LLC bought a new position in Callaway Golf during the fourth quarter valued at about $171,000. Xact Kapitalforvaltning AB bought a new position in Callaway Golf during the fourth quarter valued at about $173,000. We Are One Seven LLC bought a new position in Callaway Golf during the fourth quarter valued at about $272,000. MetLife Investment Advisors LLC bought a new position in Callaway Golf during the fourth quarter valued at about $651,000. Finally, Gotham Asset Management LLC grew its position in Callaway Golf by 520.5% during the fourth quarter. Gotham Asset Management LLC now owns 287,777 shares of the company’s stock valued at $4,009,000 after buying an additional 241,399 shares during the period. Institutional investors own 88.97% of the company’s stock.
Callaway Golf Company Profile
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.
Receive News & Ratings for Callaway Golf Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Callaway Golf and related companies with MarketBeat.com's FREE daily email newsletter.