Callaway Golf Co (NYSE:ELY) Director Anthony S. Thornley sold 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $14.40, for a total transaction of $100,800.00. Following the transaction, the director now owns 47,034 shares in the company, valued at $677,289.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Callaway Golf Co (ELY) opened at $14.04 on Friday. Callaway Golf Co has a fifty-two week low of $9.77 and a fifty-two week high of $15.63. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of 27.86, a price-to-earnings-growth ratio of 1.86 and a beta of 1.10.
Callaway Golf (NYSE:ELY) last released its earnings results on Wednesday, October 25th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.09. Callaway Golf had a return on equity of 7.88% and a net margin of 17.97%. The company had revenue of $243.60 million during the quarter, compared to the consensus estimate of $209.52 million. During the same quarter last year, the company earned ($0.06) earnings per share. Callaway Golf’s quarterly revenue was up 29.7% compared to the same quarter last year. research analysts anticipate that Callaway Golf Co will post 0.51 earnings per share for the current fiscal year.
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ELY has been the topic of a number of research reports. BidaskClub lowered shares of Callaway Golf from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Zacks Investment Research lowered shares of Callaway Golf from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Jefferies Group LLC set a $18.00 target price on shares of Callaway Golf and gave the stock a “buy” rating in a research report on Friday, August 4th. Forward View lowered shares of Callaway Golf to a “hold” rating and set a $14.00 target price on the stock. in a research report on Saturday, August 5th. Finally, Compass Point lowered shares of Callaway Golf from a “buy” rating to a “neutral” rating and raised their target price for the stock from $13.60 to $13.75 in a research report on Monday, August 7th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $15.67.
Several large investors have recently added to or reduced their stakes in the company. Alps Advisors Inc. raised its stake in shares of Callaway Golf by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 44,544 shares of the company’s stock worth $569,000 after buying an additional 114 shares during the last quarter. Amalgamated Bank raised its stake in shares of Callaway Golf by 1.3% during the 2nd quarter. Amalgamated Bank now owns 12,821 shares of the company’s stock worth $164,000 after buying an additional 160 shares during the last quarter. Atria Investments LLC raised its stake in shares of Callaway Golf by 1.5% during the 2nd quarter. Atria Investments LLC now owns 19,633 shares of the company’s stock worth $251,000 after buying an additional 283 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its stake in shares of Callaway Golf by 1.3% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 27,960 shares of the company’s stock worth $310,000 after buying an additional 360 shares during the last quarter. Finally, Suntrust Banks Inc. raised its stake in shares of Callaway Golf by 2.0% during the 2nd quarter. Suntrust Banks Inc. now owns 18,397 shares of the company’s stock worth $235,000 after buying an additional 361 shares during the last quarter. 88.99% of the stock is owned by institutional investors and hedge funds.
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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