Oliver G. Brewer III Buys 10,000 Shares of Callaway Golf Co (ELY) Stock
Callaway Golf Co (NYSE:ELY) CEO Oliver G. Brewer III acquired 10,000 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was acquired at an average price of $15.14 per share, for a total transaction of $151,400.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
ELY opened at $15.33 on Thursday. 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 capitalization of $1.40 billion, a price-to-earnings ratio of 14.33, a PEG ratio of 0.58 and a beta of 1.06. Callaway Golf Co has a twelve month low of $14.44 and a twelve month high of $24.67.
Callaway Golf (NYSE:ELY) last posted its earnings results on Thursday, May 9th. The company reported $0.63 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.14. The company had revenue of $516.20 million for the quarter, compared to analyst estimates of $504.07 million. Callaway Golf had a net margin of 6.68% and a return on equity of 13.42%. The business’s revenue for the quarter was up 28.0% compared to the same quarter last year. During the same period last year, the business posted $0.65 earnings per share. Research analysts predict that Callaway Golf Co will post 1.03 earnings per share for the current year.
Institutional investors and hedge funds have recently bought and sold shares of the business. Zions Bancorporation N.A. acquired a new stake in Callaway Golf in the first quarter worth $33,000. Massey Quick Simon & CO. LLC raised its holdings in Callaway Golf by 50.0% in the fourth 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 during the period. Valeo Financial Advisors LLC acquired a new stake in shares of Callaway Golf during the first quarter worth $47,000. Pearl River Capital LLC acquired a new stake in shares of Callaway Golf during the fourth quarter worth $74,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Callaway Golf by 26.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,523 shares of the company’s stock worth $100,000 after acquiring an additional 1,376 shares during the period. Institutional investors own 92.20% of the company’s stock.
Several brokerages recently weighed in on ELY. ValuEngine lowered shares of Callaway Golf from a “hold” rating to a “sell” rating in a report on Wednesday. Berenberg Bank restated a “buy” rating and issued a $24.00 price objective on shares of Callaway Golf in a report on Sunday, May 12th. Zacks Investment Research upgraded shares of Callaway Golf from a “sell” rating to a “hold” rating in a report on Monday, January 28th. Finally, Imperial Capital cut their price objective on shares of Callaway Golf from $25.00 to $22.00 and set an “outperform” rating on the stock in a report on Thursday, February 7th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. Callaway Golf currently has an average rating of “Hold” and a consensus target price of $22.91.
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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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