Bernzott Capital Advisors Lowers stake in Callaway Golf Co (ELY)

Callaway Golf Co (ELY) : Bernzott Capital Advisors reduced its stake in Callaway Golf Co by 11.12% during the most recent quarter end. The investment management company now holds a total of 1,591,068 shares of Callaway Golf Co which is valued at $18,201,818 after selling 199,075 shares in Callaway Golf Co , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.Callaway Golf Co makes up approximately 3.41% of Bernzott Capital Advisors’s portfolio.

Other Hedge Funds, Including , Victory Capital Management Inc reduced its stake in ELY by selling 56,700 shares or 1.73% in the most recent quarter. The Hedge Fund company now holds 3,221,732 shares of ELY which is valued at $37,404,309. Callaway Golf Co makes up approx 0.15% of Victory Capital Management Inc’s portfolio. Brc Investment Management added ELY to its portfolio by purchasing 16,870 company shares during the most recent quarter which is valued at $192,824. Callaway Golf Co makes up approx 0.03% of Brc Investment Management’s portfolio.Quantbot Technologies Lp reduced its stake in ELY by selling 12,730 shares or 83.46% in the most recent quarter. The Hedge Fund company now holds 2,523 shares of ELY which is valued at $26,693.Ls Investment Advisors boosted its stake in ELY in the latest quarter, The investment management firm added 223 additional shares and now holds a total of 3,392 shares of Callaway Golf Co which is valued at $35,311.

Callaway Golf Co opened for trading at $11.57 and hit $11.66 on the upside on Wednesday, eventually ending the session at $11.66, with a gain of 0.52% or 0.06 points. The heightened volatility saw the trading volume jump to 9,77,194 shares. Company has a market cap of $1,096 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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