Insider Selling: Bradley Holiday Sells 98,495 Shares of Callaway Golf Stock (ELY)
Callaway Golf (NYSE:ELY) CFO Bradley Holiday sold 98,495 shares of Callaway Golf stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $8.95, for a total transaction of $881,530.25. Following the completion of the sale, the chief financial officer now directly owns 39,721 shares in the company, valued at approximately $355,503. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Callaway Golf (NYSE:ELY) traded down 2.18% on Monday, hitting $8.51. The stock had a trading volume of 3,460,101 shares. Callaway Golf has a 52-week low of $5.37 and a 52-week high of $7.58. The stock has a 50-day moving average of $7.11 and a 200-day moving average of $6.79. The company’s market cap is $618.2 million.
Callaway Golf (NYSE:ELY) last posted its quarterly earnings results on Thursday, October 24th. The company reported ($0.18) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.28) by $0.10. The company had revenue of $178.00 million for the quarter, compared to the consensus estimate of $152.63 million. During the same quarter in the prior year, the company posted ($0.50) earnings per share. The company’s quarterly revenue was up 20.3% on a year-over-year basis. On average, analysts predict that Callaway Golf will post $-0.07 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, December 16th. Stockholders of record on Thursday, November 21st will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.47%. The ex-dividend date is Tuesday, November 19th.
A number of analysts have recently weighed in on ELY shares. Analysts at Imperial Capital raised their price target on shares of Callaway Golf from $8.50 to $10.50 in a research note to investors on Monday. They now have an “outperform” rating on the stock. Separately, analysts at Wedbush raised their price target on shares of Callaway Golf from $6.00 to $7.00 in a research note to investors on Friday. They now have a “neutral” rating on the stock. Finally, analysts at Zacks upgraded shares of Callaway Golf from a “neutral” rating to an “outperform” rating in a research note to investors on Friday. They now have a $7.70 price target on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. Callaway Golf has a consensus rating of “Hold” and a consensus target price of $8.84.
Manufactures a line of specialty golf clubs and other golf related equipment. Primary products include oversized Big Bertha metal woods, conventional-sized S2H2 metal woods, S2H2 irons and Callaway Hickory Stick wedges and putters.
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