Insider Selling: Callaway Golf Company (NYSE:ELY) Insider Sells 8,503 Shares of Stock

Callaway Golf Company (NYSE:ELY) insider Jennifer L. Thomas sold 8,503 shares of the company’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $14.95, for a total transaction of $127,119.85. Following the sale, the insider now owns 28,143 shares of the company’s stock, valued at $420,737.85. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Shares of Callaway Golf Company (NYSE ELY) opened at $14.00 on Friday. The firm has a market cap of $1,323.50, a PE ratio of 27.45, a PEG ratio of 1.83 and a beta of 1.10. Callaway Golf Company has a 1 year low of $9.93 and a 1 year high of $15.63.

Callaway Golf (NYSE:ELY) last released its earnings results on Wednesday, October 25th. The company reported $0.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.09. The firm 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 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 predict that Callaway Golf Company will post 0.51 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 13th. Stockholders of record on Wednesday, November 22nd will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date of this dividend is Tuesday, November 21st. Callaway Golf’s dividend payout ratio is presently 2.09%.

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A number of hedge funds have recently made changes to their positions in ELY. UBS Asset Management Americas Inc. grew its position in Callaway Golf by 59.7% during the 1st quarter. UBS Asset Management Americas Inc. now owns 32,421 shares of the company’s stock valued at $359,000 after purchasing an additional 12,124 shares during the last quarter. Karp Capital Management Corp purchased a new stake in Callaway Golf during the 1st quarter valued at about $243,000. Arizona State Retirement System grew its position in Callaway Golf by 1.7% during the 1st quarter. Arizona State Retirement System now owns 49,282 shares of the company’s stock valued at $546,000 after purchasing an additional 800 shares during the last quarter. Municipal Employees Retirement System of Michigan grew its position in 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 valued at $310,000 after purchasing an additional 360 shares during the last quarter. Finally, OppenheimerFunds Inc. grew its position in Callaway Golf by 26.2% during the 1st quarter. OppenheimerFunds Inc. now owns 60,371 shares of the company’s stock valued at $669,000 after purchasing an additional 12,539 shares during the last quarter. 88.92% of the stock is currently owned by institutional investors.

A number of equities research analysts recently commented on the stock. B. Riley reiterated a “buy” rating on shares of Callaway Golf in a report on Wednesday, November 1st. Forward View restated a “hold” rating on shares of Callaway Golf in a report on Saturday, October 28th. Zacks Investment Research upgraded shares of Callaway Golf from a “hold” rating to a “strong-buy” rating and set a $17.00 price objective for the company in a report on Friday, October 27th. Jefferies Group LLC set a $19.00 price objective on shares of Callaway Golf and gave the stock a “buy” rating in a report on Thursday, October 26th. Finally, SunTrust Banks, Inc. upped their price objective on shares of Callaway Golf from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, October 26th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Callaway Golf currently has an average rating of “Buy” and a consensus price target of $15.67.

About Callaway Golf

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.

Insider Buying and Selling by Quarter for Callaway Golf (NYSE:ELY)

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