Callaway Golf Company (ELY) SVP Sells $564,451.25 in Stock
Callaway Golf Company (NYSE:ELY) SVP Alan Hocknell sold 41,051 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $13.75, for a total value of $564,451.25. Following the transaction, the senior vice president now directly owns 73,227 shares in the company, valued at approximately $1,006,871.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Alan Hocknell also recently made the following trade(s):
- On Friday, August 4th, Alan Hocknell sold 57,138 shares of Callaway Golf stock. The stock was sold at an average price of $13.30, for a total value of $759,935.40.
Callaway Golf Company (ELY) opened at 13.76 on Friday. Callaway Golf Company has a 12-month low of $9.77 and a 12-month high of $14.12. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of 7.61 and a beta of 1.17. The company’s 50 day moving average price is $12.99 and its 200-day moving average price is $12.13.
Callaway Golf (NYSE:ELY) last issued its quarterly earnings results 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 company had revenue of $304.50 million during the quarter, compared to the consensus estimate of $295.70 million. Callaway Golf had a return on equity of 6.60% and a net margin of 18.09%. Callaway Golf’s revenue was up 24.0% on a year-over-year basis. During the same period last year, the business posted $0.36 earnings per share. On average, equities analysts anticipate that Callaway Golf Company will post $0.44 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Tuesday, August 22nd will be given a dividend of $0.01 per share. 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 payout ratio is 2.20%.
Several hedge funds have recently modified their holdings of ELY. Riverhead Capital Management LLC increased 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 worth $106,000 after buying an additional 3,426 shares during the last quarter. C M Bidwell & Associates Ltd. purchased a new stake in Callaway Golf during the second quarter worth about $109,000. State of Alaska Department of Revenue increased its stake in 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 worth $115,000 after buying an additional 260 shares in the last quarter. Flinton Capital Management LLC increased its stake in Callaway Golf by 71.6% in the second quarter. Flinton Capital Management LLC now owns 11,322 shares of the company’s stock worth $145,000 after buying an additional 4,726 shares in the last quarter. Finally, Koch Industries Inc. purchased a new stake in Callaway Golf during the first quarter worth about $162,000. 87.63% of the stock is owned by institutional investors.
ELY has been the topic of several recent analyst reports. BidaskClub lowered Callaway Golf from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Jefferies Group LLC set a $17.00 price target on Callaway Golf and gave the stock a “buy” rating in a research report on Tuesday, June 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. Aegis initiated coverage on Callaway Golf in a research report on Friday, August 25th. They set a “buy” rating and a $16.00 price target on the stock. Finally, Cowen and Company initiated coverage on Callaway Golf in a research report on Wednesday, June 14th. They set a “market perform” rating and a $14.00 price target on the stock. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Callaway Golf currently has a consensus rating of “Buy” and a consensus 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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