Callaway Golf Co (NYSE:ELY) EVP Sells $262,740.00 in Stock

Callaway Golf Co (NYSE:ELY) EVP Richard H. Arnett sold 13,137 shares of Callaway Golf stock in a transaction on Friday, August 9th. The shares were sold at an average price of $20.00, for a total value of $262,740.00. Following the completion of the transaction, the executive vice president now owns 31,276 shares in the company, valued at approximately $625,520. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of ELY traded up $1.29 during midday trading on Friday, reaching $18.83. 4,602,505 shares of the company were exchanged, compared to its average volume of 1,274,473. The company’s 50-day moving average is $17.93. The stock has a market capitalization of $1.63 billion, a P/E ratio of 17.60, a price-to-earnings-growth ratio of 0.67 and a beta of 1.24. Callaway Golf Co has a 1-year low of $14.44 and a 1-year high of $24.67. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.85 and a current ratio of 1.59.

Callaway Golf (NYSE:ELY) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.37 EPS for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.12. The company had revenue of $446.71 million for the quarter, compared to analysts’ expectations of $430.12 million. Callaway Golf had a return on equity of 13.42% and a net margin of 6.68%. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.63 earnings per share. Analysts anticipate that Callaway Golf Co will post 1.03 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Tuesday, August 13th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date is Monday, August 12th. Callaway Golf’s dividend payout ratio is presently 3.74%.

Several institutional investors and hedge funds have recently modified their holdings of the business. Zions Bancorporation N.A. purchased a new stake in shares of Callaway Golf during the first quarter worth about $33,000. Nisa Investment Advisors LLC purchased a new stake in shares of Callaway Golf during the second quarter worth about $34,000. FNY Investment Advisers LLC purchased a new stake in shares of Callaway Golf during the second quarter worth about $34,000. Valeo Financial Advisors LLC purchased a new stake in shares of Callaway Golf during the first quarter worth about $47,000. Finally, Massey Quick Simon & CO. LLC increased its position in shares of Callaway Golf by 30.0% during the first quarter. Massey Quick Simon & CO. LLC now owns 3,097 shares of the company’s stock worth $49,000 after acquiring an additional 714 shares during the last quarter. Institutional investors own 89.61% of the company’s stock.

A number of brokerages recently weighed in on ELY. ValuEngine cut Callaway Golf from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. B. Riley set a $30.00 target price on Callaway Golf and gave the company a “buy” rating in a report on Friday, July 19th. Zacks Investment Research upgraded Callaway Golf from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a report on Friday, July 12th. Berenberg Bank reiterated a “buy” rating and issued a $24.00 target price on shares of Callaway Golf in a report on Sunday, May 12th. Finally, Roth Capital set a $19.00 price objective on Callaway Golf and gave the stock a “hold” rating in a research note on Thursday, June 13th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $23.28.

Callaway Golf Company Profile

Callaway Golf Company, together with its subsidiaries, designs, manufactures, and sells golf clubs, golf balls, golf bags, and other golf-related accessories. The company operates through three segments: Golf Clubs; Golf Balls; and Gear, Accessories and Other. The Golf Clubs segment provides golf drivers and fairway woods, hybrids, irons and wedges, putters, packaged sets, and pre-owned golf clubs.

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