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Callaway Golf Company (NYSE:ELY) shares are trading higher following a new 9.22% stake from Barry Rosenstein's Jana Partners.
Callaway Golf manufactures golf clubs, among other golf-related accessories. It sells its line of Big Bertha, Great Big Bertha and Biggest Big Bertha oversize metal woods and conventional-style metal woods, irons, wedges and putters. Sales of metal woods account for approximately 60% of the company's total sales.
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In its SEC filing, Jana said "it intends to have discussions with Callaway's board of directors and management regarding strategic alternatives, including exploring a divesting of assets or a sale of the company."
Callaway Golf traded up 12.2% to $17.84 at time of publication Thursday morning.
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Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.