Callaway Golf Co (ELY): Are Hedge Funds Right About This Stock?

Is Callaway Golf Co (NYSE:ELY) a bargain? Money managers are turning less bullish. The number of long hedge fund bets went down by 2 lately.

Callaway Golf Co (NYSE:ELY)At the moment, there are tons of gauges market participants can use to monitor the equity markets. A couple of the best are hedge fund and insider trading activity. At Insider Monkey, our studies have shown that, historically, those who follow the top picks of the top hedge fund managers can outperform their index-focused peers by a solid amount (see just how much).

Equally as integral, optimistic insider trading sentiment is a second way to parse down the financial markets. Obviously, there are a number of reasons for a bullish insider to cut shares of his or her company, but just one, very clear reason why they would behave bullishly. Plenty of academic studies have demonstrated the useful potential of this strategy if shareholders understand where to look (learn more here).

Now, it’s important to take a look at the latest action regarding Callaway Golf Co (NYSE:ELY).

How are hedge funds trading Callaway Golf Co (NYSE:ELY)?

In preparation for this quarter, a total of 9 of the hedge funds we track were long in this stock, a change of -18% from the previous quarter. With hedgies’ capital changing hands, there exists a select group of notable hedge fund managers who were boosting their stakes considerably.

According to our comprehensive database, Chuck Royce’s Royce & Associates had the biggest position in Callaway Golf Co (NYSE:ELY), worth close to $25.7 million, comprising 0.1% of its total 13F portfolio. The second largest stake is held by Ric Dillon of Diamond Hill Capital, with a $9 million position; the fund has 0.1% of its 13F portfolio invested in the stock. Other hedgies that hold long positions include Youlia Miteva’s Proxima Capital Management, John W. Rogers’s Ariel Investments and Jim Simons’s Renaissance Technologies.

Since Callaway Golf Co (NYSE:ELY) has experienced a declination in interest from the aggregate hedge fund industry, it’s easy to see that there exists a select few hedgies who sold off their positions entirely at the end of the first quarter. It’s worth mentioning that Mike Vranos’s Ellington dropped the largest investment of the “upper crust” of funds we track, valued at close to $0.2 million in stock., and Matthew Hulsizer of PEAK6 Capital Management was right behind this move, as the fund dumped about $0.2 million worth. These moves are interesting, as total hedge fund interest dropped by 2 funds at the end of the first quarter.

How have insiders been trading Callaway Golf Co (NYSE:ELY)?

Insider trading activity, especially when it’s bullish, is best served when the company in question has seen transactions within the past six months. Over the latest half-year time period, Callaway Golf Co (NYSE:ELY) has seen 2 unique insiders purchasing, and zero insider sales (see the details of insider trades here).

With the results shown by our research, retail investors must always pay attention to hedge fund and insider trading activity, and Callaway Golf Co (NYSE:ELY) shareholders fit into this picture quite nicely.

Click here to learn why you should track hedge funds

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

The Top 10 Most Expensive Digital Cameras to Snap Stunning Shots With

The 10 Highest Quality Fast Food Restaurants In America Today

The 8 Best Halloween Decorating Ideas to Spook Up Your House

10 Marvel Women that Should Get a Movie Right Now

The 20 Best Remixes of Popular Songs that Will Make You Forget the Originals

7 Most Expensive Cities in the World

5 Least Expensive Cities in the World

10 Celebrities Who Believe In Scientology

10 High Margin Food Products to Build a Business Around

The 10 Most Expensive Clothing Stores in the United States to Get Decked Out At

The 5 Biggest Kickstarter Scams That Swindled Backers’ Donations

The 10 Most Expensive Boarding Schools In the World

50 Crazy Facts About Japan You Won’t Believe

Top 10 Least Expensive Hybrid Cars to Save the Planet With

The 10 Biggest ‘Gate’ Controversies in History

The 10 States with the Highest Nursing Shortages Leaving Their Hospitals Depleted

The 10 Best Value Investment Blogs that Every Investor Must Read

The 6 Cheapest Boarding Schools in Europe 2015

The 5 Most Expensive Cars To Insure in the World

The 10 Most Common Genetically Modified Foods

10 Self-Made Billionaires Who Came From Nothing

The 10 Most Expensive Cities to Live in North America

The 13 Most Expensive Headphones in the World to Represent

The Top 20 Wealthiest Soccer Teams in 2014

4 BuzzWorthy Cannabis Stocks And Some Smoking Derivative Plays

The 10 Healthiest Fast Food Chains in America to Dine At

The 5 Most Expensive Cat Food Brands You Can Spoil Your Kitty With

The 6 Best eCommerce Platforms for Small Businesses

The 10 Worst Mistakes an Entrepreneur Can Make

The 5 Most OP Characters in League of Legends to Carry Games and Crush Foes With

The 5 Best Foods to Eat Before Running that Will Help You Pound the Pavement

10 Glaring Plot Holes in The Walking Dead that a Zombie-Filled Bus Could Drive Through

The 5 Biggest Celebrity Stoners Who Love Their Reefer

The 10 Most Overrated Movies Of All Time by Out-of-Touch Critics

Top 6 Least Expensive Cruise Destinations For 2015 that Will Take You to Paradise

10 States with Lowest Substance Abuse Rates in America

The 14 Most Watched TV Finales Ever

The 10 Best Selling Role Playing Games of All Time for PC

10 Most Influential Papers In Economics

Top 8 Biggest Charities in the US

10 Worst Celebrity Career Moves Ever

Top 10 Best Paid Tennis Stars in the World

Top 6 Cities For The Ultra Rich to Live in Comfort

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

How to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!