Escalade (NASDAQ:ESCA) Director Richard Fenton Baalmann, Jr. Sells 4,800 Shares

Key Points

• Escalade Director Richard Fenton Baalmann, Jr. sold 4,800 shares at an average price of $12.29, totaling $58,992.00, which represents a 4.17% decrease in his ownership.
• The company reported a quarterly earnings miss with $0.13 earnings per share versus expectations of $0.23, and had revenues of $54.33 million compared to expected $60.03 million.
• Escalade announced a quarterly dividend of $0.15, with a yield of 4.9%, set to be paid on October 13th to investors on record as of October 6th.

Escalade, Incorporated (NASDAQ:ESCA - Get Free Report) Director Richard Fenton Baalmann, Jr. sold 4,800 shares of the company's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $12.29, for a total value of $58,992.00. Following the completion of the sale, the director owned 110,394 shares in the company, valued at approximately $1,356,742.26. This represents a 4.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Escalade Trading Down 3.3%

Shares of Escalade stock traded down $0.43 during trading hours on Friday, reaching $12.54. 41,692 shares of the company's stock were exchanged, compared to its average volume of 10,455. Escalade, Incorporated has a 52-week low of $11.74 and a 52-week high of $16.99. The firm has a market capitalization of $173.05 million, a price-to-earnings ratio of 13.78 and a beta of 0.67. The company has a fifty day moving average of $12.62 and a 200-day moving average of $14.01. The company has a current ratio of 4.15, a quick ratio of 1.79 and a debt-to-equity ratio of 0.09.

Escalade (NASDAQ:ESCA - Get Free Report) last issued its earnings results on Friday, August 1st. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.10). The firm had revenue of $54.33 million during the quarter, compared to analysts' expectations of $60.03 million. Escalade had a return on equity of 6.86% and a net margin of 5.30%. Sell-side analysts forecast that Escalade, Incorporated will post 0.93 EPS for the current fiscal year.

Escalade Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 13th. Stockholders of record on Monday, October 6th will be paid a dividend of $0.15 per share. The ex-dividend date is Monday, October 6th. This represents a $0.60 annualized dividend and a dividend yield of 4.8%. Escalade's dividend payout ratio (DPR) is currently 65.93%.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded Escalade from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th.

Hedge Funds Weigh In On Escalade

Several institutional investors and hedge funds have recently modified their holdings of the stock. Rehmann Capital Advisory Group bought a new stake in Escalade in the first quarter worth $4,731,000. Geode Capital Management LLC raised its position in Escalade by 2.1% in the second quarter. Geode Capital Management LLC now owns 221,456 shares of the company's stock worth $3,096,000 after purchasing an additional 4,455 shares in the last quarter. Ritholtz Wealth Management acquired a new position in Escalade in the first quarter worth about $305,000. Bank of America Corp DE raised its position in Escalade by 17.0% in the fourth quarter. Bank of America Corp DE now owns 17,269 shares of the company's stock worth $247,000 after purchasing an additional 2,510 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Escalade during the first quarter worth approximately $224,000. 65.22% of the stock is currently owned by hedge funds and other institutional investors.

About Escalade

Escalade, Incorporated, together with its subsidiaries, manufactures, distributes, imports, and sells sporting goods in North America, Europe, and internationally. The company provides various sporting goods brands in basketball goals, archery, indoor and outdoor game recreation, and fitness products.