Top 5 Stock Picks of Jack Ripsteen’s Potrero Capital Research

4. Callaway Golf Company (NYSE:ELY)

Stake Value of Potrero Capital Research: $21,278,000

Percentage of Potrero Capital’s 13F Portfolio: 5.11%

Number of Hedge Fund Holders: 39

Callaway Golf Company (NYSE:ELY) manufactures sports equipment on a global scale, specifically gold apparel and equipment. Their main merchandise includes golf balls, clubs, gloves, caps, and bags. Callaway Golf Company (NYSE:ELY) has a separate subsidiary, Callaway Apparel, for its activewear and athleisure line. Callaway Golf Company (NYSE:ELY) reaches customers via its online platform, and through famous golf equipment retailers. It is one of Jack Ripsteen’s top stock picks as of the second quarter. 

Potrero Capital Research owns stakes valued at approximately $21.27 million in Callaway Golf Company (NYSE:ELY), representing 5.11% of the firm’s Q2 portfolio. 

As of the end of Q2, 39 hedge funds in Insider Monkey’s database of elite funds were long Callaway Golf Company (NYSE:ELY), down from 40 in Q1. 

Casey Alexander from Compass Point upgraded Callaway Golf Company (NYSE:ELY) to Buy from Neutral on October 12, with a $33 price target on the stock. 

Here is what Bernzott Capital has to say about Callaway Golf Company (NYSE:ELY) in its Q2 2021 investor letter:

“Callaway Golf (ELY): The company is capitalizing on strong demand for golf equipment and recovering traffic at its recently acquired Topgolf unit. Revenues and profits for Callaway and Topgolf are both expected to surpass 2019 levels.”