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.
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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