Glenn F. Hickey Buys 10,000 Shares of Topgolf Callaway Brands Corp. (NYSE:MODG) Stock

Topgolf Callaway Brands Corp. (NYSE:MODG) EVP Glenn F. Hickey purchased 10,000 shares of the stock in a transaction dated Monday, May 19th. The stock was purchased at an average price of $6.86 per share, with a total value of $68,600.00. Following the completion of the acquisition, the executive vice president now directly owns 10,000 shares in the company, valued at approximately $68,600. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Topgolf Callaway Brands Trading Up 3.3%

NYSE:MODG opened at $6.79 on Wednesday. Topgolf Callaway Brands Corp. has a 12-month low of $5.42 and a 12-month high of $16.89. The firm has a market capitalization of $1.25 billion, a P/E ratio of -84.86 and a beta of 1.25. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 1.14. The business has a 50 day simple moving average of $6.54 and a 200 day simple moving average of $7.45.

Topgolf Callaway Brands (NYSE:MODG) last released its quarterly earnings data on Monday, May 12th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.15. Topgolf Callaway Brands had a positive return on equity of 1.20% and a negative net margin of 0.29%. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the previous year, the firm posted $0.08 EPS. The business’s revenue for the quarter was down 4.5% compared to the same quarter last year. Equities research analysts predict that Topgolf Callaway Brands Corp. will post 0.16 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in MODG. Alliancebernstein L.P. boosted its position in Topgolf Callaway Brands by 97.6% during the 4th quarter. Alliancebernstein L.P. now owns 2,152,565 shares of the company’s stock worth $16,919,000 after acquiring an additional 1,063,033 shares during the period. Long Focus Capital Management LLC boosted its position in Topgolf Callaway Brands by 44.8% during the 1st quarter. Long Focus Capital Management LLC now owns 2,950,844 shares of the company’s stock worth $19,446,000 after acquiring an additional 912,844 shares during the period. Ameriprise Financial Inc. boosted its position in Topgolf Callaway Brands by 57.8% during the 4th quarter. Ameriprise Financial Inc. now owns 2,086,700 shares of the company’s stock worth $16,401,000 after acquiring an additional 764,322 shares during the period. ExodusPoint Capital Management LP acquired a new position in Topgolf Callaway Brands during the 4th quarter worth $4,769,000. Finally, Claar Advisors LLC acquired a new position in Topgolf Callaway Brands during the 4th quarter worth $4,716,000. Institutional investors and hedge funds own 84.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. B. Riley assumed coverage on Topgolf Callaway Brands in a report on Friday, May 16th. They issued a “neutral” rating and a $7.00 price target for the company. Truist Financial lowered their price target on Topgolf Callaway Brands from $12.00 to $7.00 and set a “buy” rating for the company in a report on Monday, April 14th. JPMorgan Chase & Co. lowered their price target on Topgolf Callaway Brands from $11.00 to $9.00 and set a “neutral” rating for the company in a report on Thursday, January 23rd. Finally, Roth Mkm reiterated a “buy” rating and issued a $11.00 price target (down from $16.00) on shares of Topgolf Callaway Brands in a report on Tuesday, February 25th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Topgolf Callaway Brands has a consensus rating of “Hold” and a consensus target price of $10.50.

About Topgolf Callaway Brands

Topgolf Callaway Brands Corp. designs, manufactures, and sells golf equipment, golf and lifestyle apparel, and other accessories in the United States, Europe, Asia, and Internationally. The Topgolf segment operates Topgolf venues equipped with technology-enabled hitting bays, bars, dining areas, and event spaces, as well as Toptracer ball-flight tracking technology; and World Golf Tour digital golf game.