Insider Buying: Callaway Golf Co (ELY) Director Buys 5,000 Shares of Stock

Callaway Golf Co (NYSE:ELY) Director Russell L. Fleischer acquired 5,000 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The stock was purchased at an average cost of $14.75 per share, for a total transaction of $73,750.00. Following the purchase, the director now owns 15,859 shares of the company’s stock, valued at $233,920.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Shares of NYSE ELY opened at $15.07 on Friday. The company has a current ratio of 1.59, a quick ratio of 0.85 and a debt-to-equity ratio of 0.76. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of 14.08, a P/E/G ratio of 0.58 and a beta of 1.06. Callaway Golf Co has a 12-month low of $14.44 and a 12-month high of $24.67.

Callaway Golf (NYSE:ELY) last announced its earnings results on Thursday, May 9th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.14. The business had revenue of $516.20 million for the quarter, compared to analysts’ expectations of $504.07 million. Callaway Golf had a return on equity of 13.42% and a net margin of 6.68%. The business’s revenue for the quarter was up 28.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.65 EPS. As a group, equities research analysts expect that Callaway Golf Co will post 1.03 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Tuesday, May 21st will be given a $0.01 dividend. The ex-dividend date of this dividend is Monday, May 20th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.27%. Callaway Golf’s payout ratio is 3.74%.

Several research analysts recently issued reports on ELY shares. Zacks Investment Research raised Callaway Golf from a “sell” rating to a “hold” rating in a research note on Monday, January 28th. Imperial Capital dropped their price objective on Callaway Golf from $25.00 to $22.00 and set an “outperform” rating on the stock in a research note on Thursday, February 7th. Berenberg Bank started coverage on Callaway Golf in a research note on Wednesday, February 13th. They issued a “buy” rating and a $24.00 price objective on the stock. Finally, ValuEngine cut Callaway Golf from a “hold” rating to a “sell” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $22.91.

Several institutional investors have recently bought and sold shares of ELY. Zions Bancorporation N.A. purchased a new stake in shares of Callaway Golf during the first quarter worth $33,000. Massey Quick Simon & CO. LLC boosted its position in shares of Callaway Golf by 50.0% in the 4th quarter. Massey Quick Simon & CO. LLC now owns 2,383 shares of the company’s stock worth $36,000 after purchasing an additional 794 shares in the last quarter. Valeo Financial Advisors LLC acquired a new stake in shares of Callaway Golf in the 1st quarter worth $47,000. Pearl River Capital LLC acquired a new stake in shares of Callaway Golf in the 4th quarter worth $74,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Callaway Golf by 26.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,523 shares of the company’s stock worth $100,000 after purchasing an additional 1,376 shares in the last quarter. 92.20% of the stock is owned by hedge funds and other institutional investors.

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

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