Callaway Golf Company (ELY) Director Anthony S. Thornley Sells 7,000 Shares
Callaway Golf Company (NYSE:ELY) Director Anthony S. Thornley sold 7,000 shares of the firm’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $14.40, for a total value of $100,800.00. Following the completion of the sale, the director now directly owns 47,034 shares of the company’s stock, valued at $677,289.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Callaway Golf (NYSE:ELY) last released its earnings results on Wednesday, October 25th. The company reported $0.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.09. Callaway Golf had a return on equity of 7.88% and a net margin of 17.97%. The firm had revenue of $243.60 million for the quarter, compared to the consensus estimate of $209.52 million. During the same period in the prior year, the business posted ($0.06) earnings per share. The firm’s revenue for the quarter was up 29.7% compared to the same quarter last year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in Callaway Golf by 56,247.6% during the first quarter. BlackRock Inc. now owns 11,700,569 shares of the company’s stock worth $129,526,000 after buying an additional 11,679,804 shares during the period. Scott & Selber Inc. lifted its position in Callaway Golf by 91.7% during the second quarter. Scott & Selber Inc. now owns 244,133 shares of the company’s stock worth $3,120,000 after buying an additional 116,786 shares during the period. Cramer Rosenthal Mcglynn LLC purchased a new position in Callaway Golf during the second quarter worth about $10,707,000. UBS Group AG lifted its position in Callaway Golf by 4.5% during the first quarter. UBS Group AG now owns 265,077 shares of the company’s stock worth $2,934,000 after buying an additional 11,350 shares during the period. Finally, Daruma Capital Management LLC purchased a new position in Callaway Golf during the second quarter worth about $48,831,000. Hedge funds and other institutional investors own 88.99% of the company’s stock.
A number of analysts have issued reports on the company. Zacks Investment Research downgraded Callaway Golf from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 25th. KeyCorp reaffirmed an “overweight” rating and issued a $16.00 target price on shares of Callaway Golf in a research note on Wednesday, August 30th. FBR & Co set a $16.00 target price on Callaway Golf and gave the stock a “buy” rating in a research note on Thursday, October 26th. Compass Point downgraded Callaway Golf from a “buy” rating to a “neutral” rating and raised their target price for the stock from $13.60 to $13.75 in a research note on Monday, August 7th. Finally, Jefferies Group LLC set a $18.00 target price on Callaway Golf and gave the stock a “buy” rating in a research note on Friday, August 4th. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Callaway Golf currently has a consensus rating of “Buy” and a consensus target price of $15.67.
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.
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