Callaway Golf (NYSE:ELY) Director Sells $207,933.52 in Stock

Callaway Golf (NYSE:ELYGet Rating) Director Erik J. Anderson sold 9,992 shares of the business’s stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $20.81, for a total transaction of $207,933.52. Following the completion of the transaction, the director now owns 651,821 shares in the company, valued at approximately $13,564,395.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

NYSE:ELY traded down $1.36 during mid-day trading on Wednesday, hitting $20.46. 1,872,802 shares of the company’s stock were exchanged, compared to its average volume of 1,936,037. Callaway Golf has a one year low of $17.78 and a one year high of $37.75. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.21 and a quick ratio of 0.74. The business has a fifty day moving average price of $22.52 and a 200 day moving average price of $24.86. The company has a market cap of $3.78 billion, a PE ratio of 30.09, a P/E/G ratio of 1.61 and a beta of 1.84.

Callaway Golf (NYSE:ELYGet Rating) last issued its earnings results on Tuesday, May 10th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.12. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.02 billion. Callaway Golf had a net margin of 3.87% and a return on equity of 3.56%. The business’s revenue was up 59.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.62 earnings per share. On average, equities analysts forecast that Callaway Golf will post 0.76 EPS for the current fiscal year.

A number of research firms have issued reports on ELY. StockNews.com upgraded shares of Callaway Golf from a “sell” rating to a “hold” rating in a research report on Wednesday, May 11th. Raymond James reduced their price target on shares of Callaway Golf from $40.00 to $35.00 and set an “outperform” rating on the stock in a research report on Friday, February 11th. Roth Capital reiterated a “buy” rating on shares of Callaway Golf in a research report on Wednesday, April 27th. The Goldman Sachs Group boosted their price target on shares of Callaway Golf from $27.00 to $31.00 and gave the company a “neutral” rating in a research report on Monday, March 7th. Finally, Zacks Investment Research upgraded shares of Callaway Golf from a “sell” rating to a “hold” rating in a research report on Monday, February 14th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Callaway Golf presently has an average rating of “Buy” and a consensus price target of $38.45.

Hedge funds and other institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. lifted its stake in shares of Callaway Golf by 1.0% in the fourth quarter. Victory Capital Management Inc. now owns 321,195 shares of the company’s stock worth $8,814,000 after buying an additional 3,028 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Callaway Golf by 52.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 140,114 shares of the company’s stock worth $3,845,000 after buying an additional 48,213 shares in the last quarter. Eagle Asset Management Inc. bought a new position in shares of Callaway Golf in the third quarter worth approximately $4,677,000. Segall Bryant & Hamill LLC lifted its position in Callaway Golf by 19.9% during the third quarter. Segall Bryant & Hamill LLC now owns 296,942 shares of the company’s stock valued at $8,204,000 after purchasing an additional 49,235 shares during the period. Finally, Retirement Systems of Alabama lifted its position in Callaway Golf by 1.2% during the fourth quarter. Retirement Systems of Alabama now owns 153,456 shares of the company’s stock valued at $4,211,000 after purchasing an additional 1,782 shares during the period. Hedge funds and other institutional investors own 87.20% of the company’s stock.

About Callaway Golf (Get Rating)

Callaway Golf Company, together with its subsidiaries, designs, manufactures, and sells golf equipment, golf and lifestyle apparel, and other accessories. It operates through three segments: Topgolf; Golf Equipment; and Apparel, Gear and Other. The Topgolf segment operates Topgolf venues equipped with technology-enabled hitting bays, multiple bars, dining areas, and event spaces, as well as Toptracer ball-flight tracking technology used by independent driving ranges and broadcast television; and World Golf Tour digital golf game.

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