Alex Mitchell Boezeman Sells 16,738 Shares of Callaway Golf Co (ELY) Stock

Callaway Golf Co (NYSE:ELY) insider Alex Mitchell Boezeman sold 16,738 shares of the firm’s stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $15.31, for a total transaction of $256,258.78. Following the sale, the insider now owns 120,873 shares of the company’s stock, valued at approximately $1,850,565.63. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Callaway Golf Co (ELY) opened at $14.29 on Friday. The company has a market cap of $1,350.92, a price-to-earnings ratio of 7.48, a price-to-earnings-growth ratio of 1.61 and a beta of 1.12. Callaway Golf Co has a one year low of $9.93 and a one year high of $15.63.

Callaway Golf (NYSE:ELY) last released its quarterly earnings data on Wednesday, October 25th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates 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 firm’s revenue was up 29.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.06) earnings per share. research analysts forecast that Callaway Golf Co will post 0.51 EPS for the current fiscal year.

Several brokerages have commented on ELY. Zacks Investment Research raised shares of Callaway Golf from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research report on Friday, January 5th. Raymond James Financial reissued a “hold” rating on shares of Callaway Golf in a research report on Wednesday, December 27th. DA Davidson set a $18.00 price target on shares of Callaway Golf and gave the company a “buy” rating in a research report on Wednesday, December 27th. Compass Point cut shares of Callaway Golf from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $15.06 to $13.50 in a research report on Wednesday, December 27th. Finally, JPMorgan Chase & Co. started coverage on shares of Callaway Golf in a research report on Thursday, December 14th. They set an “overweight” rating and a $18.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the stock. Callaway Golf has an average rating of “Buy” and an average target price of $15.82.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Riverhead Capital Management LLC lifted its holdings in shares of Callaway Golf by 69.9% in the second quarter. Riverhead Capital Management LLC now owns 8,326 shares of the company’s stock valued at $106,000 after purchasing an additional 3,426 shares in the last quarter. C M Bidwell & Associates Ltd. purchased a new position in shares of Callaway Golf during the second quarter valued at approximately $109,000. Flinton Capital Management LLC lifted its stake in shares of Callaway Golf by 71.6% during the second quarter. Flinton Capital Management LLC now owns 11,322 shares of the company’s stock valued at $145,000 after buying an additional 4,726 shares during the period. Allianz Asset Management GmbH purchased a new position in shares of Callaway Golf during the third quarter valued at approximately $182,000. Finally, Amalgamated Bank lifted its stake in shares of Callaway Golf by 1.3% during the second quarter. Amalgamated Bank now owns 12,821 shares of the company’s stock valued at $164,000 after buying an additional 160 shares during the period. 88.11% of the stock is currently owned by institutional investors.

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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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