Callaway Golf Co (NYSE:ELY) insider Alex Mitchell Boezeman sold 16,738 shares of the company’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $15.31, for a total transaction of $256,258.78. Following the sale, the insider now owns 120,873 shares in the company, valued at $1,850,565.63. The sale was disclosed in a filing with the SEC, which is available at this link.
Shares of Callaway Golf Co (NYSE ELY) opened at $15.14 on Friday. Callaway Golf Co has a 1 year low of $9.93 and a 1 year high of $15.63. The firm has a market cap of $1,444.52, a PE ratio of 7.93, a P/E/G ratio of 1.99 and a beta of 1.12.
Callaway Golf (NYSE:ELY) last issued its earnings results on Wednesday, October 25th. The company reported $0.05 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.09. The business had revenue of $243.60 million for the quarter, compared to the consensus estimate of $209.52 million. Callaway Golf had a net margin of 17.97% and a return on equity of 7.88%. The company’s revenue for the quarter was up 29.7% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.06) EPS. analysts anticipate that Callaway Golf Co will post 0.51 EPS for the current year.
A number of hedge funds have recently modified their holdings of ELY. Riverhead Capital Management LLC grew its stake in Callaway Golf by 69.9% in the 2nd quarter. Riverhead Capital Management LLC now owns 8,326 shares of the company’s stock worth $106,000 after acquiring an additional 3,426 shares in the last quarter. C M Bidwell & Associates Ltd. purchased a new position in shares of Callaway Golf during the second quarter worth $109,000. Flinton Capital Management LLC raised its holdings in shares of Callaway Golf by 71.6% during the second quarter. Flinton Capital Management LLC now owns 11,322 shares of the company’s stock worth $145,000 after purchasing an additional 4,726 shares during the last quarter. Amalgamated Bank raised its holdings in shares of Callaway Golf by 1.3% during the second quarter. Amalgamated Bank now owns 12,821 shares of the company’s stock worth $164,000 after purchasing an additional 160 shares during the last quarter. Finally, Allianz Asset Management GmbH purchased a new position in shares of Callaway Golf during the third quarter worth $182,000. Institutional investors and hedge funds own 88.11% of the company’s stock.
Several analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Callaway Golf from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. Forward View reissued a “hold” rating on shares of Callaway Golf in a research report on Saturday, October 28th. KeyCorp set a $16.00 price objective on shares of Callaway Golf and gave the stock a “buy” rating in a research report on Saturday, October 21st. Cowen set a $14.00 price objective on shares of Callaway Golf and gave the stock a “hold” rating in a research report on Tuesday, October 24th. Finally, DA Davidson reissued a “buy” rating and issued a $16.00 price objective on shares of Callaway Golf in a research report on Wednesday, September 20th. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $15.84.
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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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