Richard H. Arnett Sells 7,241 Shares of Callaway Golf (ELY) Stock

Callaway Golf (NYSE:ELY) SVP Richard H. Arnett sold 7,241 shares of the company’s stock in a transaction on Friday, April 6th. The shares were sold at an average price of $17.00, for a total value of $123,097.00. Following the sale, the senior vice president now owns 12,229 shares of the company’s stock, valued at $207,893. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Shares of ELY stock traded down $0.16 on Friday, hitting $16.84. 1,213,679 shares of the company’s stock were exchanged, compared to its average volume of 925,650. The company has a quick ratio of 0.65, a current ratio of 1.48 and a debt-to-equity ratio of 0.02. Callaway Golf has a 12 month low of $11.19 and a 12 month high of $17.24. The company has a market cap of $1,582.24, a P/E ratio of 31.77, a P/E/G ratio of 1.60 and a beta of 1.03.

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Callaway Golf (NYSE:ELY) last announced its quarterly earnings data on Wednesday, February 7th. The company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.02. Callaway Golf had a return on equity of 7.85% and a net margin of 3.89%. The business had revenue of $192.00 million during the quarter, compared to the consensus estimate of $184.74 million. During the same period in the prior year, the company earned ($0.09) EPS. Callaway Golf’s revenue for the quarter was up 17.1% on a year-over-year basis. equities research analysts anticipate that Callaway Golf will post 0.7 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 7th. Investors of record on Wednesday, February 14th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Tuesday, February 13th. This represents a $0.04 annualized dividend and a dividend yield of 0.24%. Callaway Golf’s dividend payout ratio is currently 7.55%.

Several hedge funds have recently made changes to their positions in the stock. BlackRock Inc. lifted its position in shares of Callaway Golf by 3.0% during the 4th quarter. BlackRock Inc. now owns 12,070,025 shares of the company’s stock worth $168,135,000 after buying an additional 351,863 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Callaway Golf by 3.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 6,633,502 shares of the company’s stock worth $95,720,000 after buying an additional 240,520 shares during the last quarter. Glenmede Trust Co. NA lifted its position in shares of Callaway Golf by 21.9% during the 4th quarter. Glenmede Trust Co. NA now owns 3,195,788 shares of the company’s stock worth $44,515,000 after buying an additional 573,445 shares during the last quarter. Copper Rock Capital Partners LLC lifted its position in shares of Callaway Golf by 24.9% during the 4th quarter. Copper Rock Capital Partners LLC now owns 2,426,519 shares of the company’s stock worth $34,117,000 after buying an additional 483,441 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Callaway Golf by 11.0% during the 4th quarter. Bank of New York Mellon Corp now owns 1,493,110 shares of the company’s stock worth $20,800,000 after buying an additional 148,068 shares during the last quarter. Institutional investors and hedge funds own 88.94% of the company’s stock.

ELY has been the subject of a number of recent analyst reports. JPMorgan Chase initiated coverage on Callaway Golf in a research report on Thursday, December 14th. They set an “overweight” rating and a $18.00 target price for the company. Compass Point downgraded Callaway Golf from a “neutral” rating to a “sell” rating and cut their target price for the company from $15.06 to $13.50 in a research report on Wednesday, December 27th. DA Davidson set a $18.00 target price on Callaway Golf and gave the company a “buy” rating in a research report on Wednesday, December 27th. Raymond James Financial reiterated a “hold” rating on shares of Callaway Golf in a research report on Wednesday, December 27th. Finally, Zacks Investment Research downgraded Callaway Golf from a “buy” rating to a “hold” rating in a research report on Monday, January 1st. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Callaway Golf has a consensus rating of “Buy” and an average target price of $16.66.

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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 in the United States and internationally. The company operates through three segments: Golf Clubs; Golf Balls; and Gear, Accessories and Other.

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

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