Callaway Golf Co (ELY) VP Mark F. Leposky Sells 31,691 Shares
Callaway Golf Co (NYSE:ELY) VP Mark F. Leposky sold 31,691 shares of the company’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $14.00, for a total transaction of $443,674.00. Following the sale, the vice president now directly owns 68,343 shares of the company’s stock, valued at approximately $956,802. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Callaway Golf Co (NYSE:ELY) traded down 1.29% during midday trading on Friday, reaching $13.76. 540,791 shares of the company traded hands. The stock has a market capitalization of $1.30 billion, a P/E ratio of 7.61 and a beta of 1.17. The firm has a 50-day moving average of $12.99 and a 200-day moving average of $12.13. Callaway Golf Co has a 1-year low of $9.77 and a 1-year high of $14.12.
Callaway Golf (NYSE:ELY) last posted its quarterly earnings data on Thursday, August 3rd. The company reported $0.34 EPS for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.05. The business had revenue of $304.50 million during the quarter, compared to analysts’ expectations of $295.70 million. Callaway Golf had a return on equity of 19.91% and a net margin of 10.33%. The business’s revenue was up 24.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.36 earnings per share. On average, analysts predict that Callaway Golf Co will post $0.44 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Stockholders of record on Tuesday, August 22nd will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date of this dividend is Friday, August 18th. Callaway Golf’s dividend payout ratio (DPR) is presently 2.20%.
Several hedge funds have recently bought and sold shares of the stock. Riverhead Capital Management LLC boosted its stake in shares of Callaway Golf by 69.9% in the second quarter. Riverhead Capital Management LLC now owns 8,326 shares of the company’s stock valued at $106,000 after buying an additional 3,426 shares during the last quarter. C M Bidwell & Associates Ltd. purchased a new stake in shares of Callaway Golf during the second quarter valued at approximately $109,000. State of Alaska Department of Revenue boosted its stake in shares of Callaway Golf by 2.6% in the first quarter. State of Alaska Department of Revenue now owns 10,440 shares of the company’s stock valued at $115,000 after buying an additional 260 shares during the last quarter. Flinton Capital Management LLC boosted its stake in shares of Callaway Golf by 71.6% in the second quarter. Flinton Capital Management LLC now owns 11,322 shares of the company’s stock valued at $145,000 after buying an additional 4,726 shares during the last quarter. Finally, Amalgamated Bank boosted its stake in shares of Callaway Golf by 1.3% in the second quarter. Amalgamated Bank now owns 12,821 shares of the company’s stock valued at $164,000 after buying an additional 160 shares during the last quarter. Institutional investors and hedge funds own 87.63% of the company’s stock.
Several research firms have recently commented on ELY. FBR & Co set a $14.00 price target on shares of Callaway Golf and gave the company a “buy” rating in a research report on Saturday, May 6th. Imperial Capital reaffirmed an “outperform” rating and set a $16.00 price target (up previously from $14.50) on shares of Callaway Golf in a research report on Wednesday, August 9th. Cowen and Company began coverage on shares of Callaway Golf in a research report on Wednesday, June 14th. They set a “market perform” rating and a $14.00 price target for the company. Compass Point lowered shares of Callaway Golf from a “buy” rating to a “neutral” rating and upped their price target for the company from $13.60 to $13.75 in a research report on Monday, August 7th. Finally, Forward View lowered shares of Callaway Golf to a “hold” rating and set a $14.00 price target for the company. in a research report on Saturday, August 5th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Callaway Golf presently has an average rating of “Buy” and an average target price of $14.98.
Callaway Golf Company Profile
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 its trademarks and service marks and sales of pre-owned golf clubs.
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