Escalade (NASDAQ:ESCA) Director Sells 2,000 Shares of Stock

Key Points

• Escalade Director Richard Baalmann, Jr. sold 2,000 shares at $21 each, a $42,000 transaction that reduced his stake by 2.05%; he retained 95,794 shares.
• Escalade’s latest quarterly EPS of $0.48 beat the $0.34 consensus estimate, while revenue of $65.61 million fell short of the $68.48 million estimate.
• The company announced a quarterly dividend of $0.1525 per share, equivalent to a 2.9% annual yield. Analysts’ average rating is Hold.

Escalade, Incorporated (NASDAQ:ESCA - Get Free Report) Director Richard Baalmann, Jr. sold 2,000 shares of the stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $21.00, for a total transaction of $42,000.00. Following the sale, the director owned 95,794 shares in the company, valued at approximately $2,011,674. This trade represents a 2.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Escalade Trading Down 0.6%

NASDAQ ESCA traded down $0.13 during trading hours on Tuesday, reaching $20.98. The company's stock had a trading volume of 22,749 shares, compared to its average volume of 35,234. The business has a 50-day simple moving average of $19.44 and a 200 day simple moving average of $18.29. Escalade, Incorporated has a 52 week low of $12.25 and a 52 week high of $23.07. The stock has a market cap of $288.68 million, a PE ratio of 11.99 and a beta of 0.54.

Escalade (NASDAQ:ESCA - Get Free Report) last posted its earnings results on Thursday, October 29th. The company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.34 by $0.14. The company had revenue of $65.61 million during the quarter, compared to analyst estimates of $68.48 million. Escalade had a return on equity of 13.48% and a net margin of 10.03%. As a group, equities analysts predict that Escalade, Incorporated will post 1.59 EPS for the current year.

Escalade Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 11th. Investors of record on Monday, January 4th will be paid a dividend of $0.1525 per share. This represents a $0.61 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Monday, January 4th. Escalade's dividend payout ratio is presently 34.86%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ESCA shares. Zacks Research cut Escalade from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 5th. LADENBURG THALM/SH SH started coverage on shares of Escalade in a research report on Tuesday, October 13th. They set a "neutral" rating for the company. Wall Street Zen cut shares of Escalade from a "strong-buy" rating to a "buy" rating in a report on Saturday, October 31st. Finally, Weiss Ratings upgraded shares of Escalade from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold".

Institutional Investors Weigh In On Escalade

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new position in Escalade during the 2nd quarter valued at about $9,851,000. Bank of New York Mellon Corp acquired a new position in shares of Escalade during the second quarter valued at approximately $1,720,000. De Lisle Partners LLP bought a new stake in Escalade during the second quarter worth approximately $1,204,000. Northstar Group Inc. bought a new stake in Escalade during the second quarter worth approximately $1,136,000. Finally, Hillsdale Investment Management Inc. acquired a new stake in Escalade in the first quarter worth approximately $311,000. 65.22% of the stock is currently owned by institutional investors.

About Escalade

Escalade, Inc. is a sporting goods manufacturer and distributor headquartered in Evansville, Indiana. The company develops, manufactures and markets products for recreational and competitive sports, with a focus on indoor and outdoor activities. Its product portfolio includes table tennis equipment, pickleball and other game-related products, archery equipment, darts, billiards, game-room furnishings, and outdoor recreation products. Escalade sells products under a variety of established brands, including STIGA, Onix, Accudart, Victory Tailgate, Harrows and Unicorn, as well as through private-label offerings.

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