Topgolf Callaway Brands Corp. (NYSE:MODG) Director Buys $192,300.00 in Stock

Topgolf Callaway Brands Corp. (NYSE:MODG) Director Russell L. Fleischer bought 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 14th. The stock was purchased at an average price of $6.41 per share, for a total transaction of $192,300.00. Following the acquisition, the director now directly owns 116,187 shares in the company, valued at approximately $744,758.67. This trade represents a 34.81% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Topgolf Callaway Brands Stock Performance

NYSE MODG opened at $7.01 on Friday. 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 company’s fifty day moving average is $6.52 and its two-hundred day moving average is $7.49. Topgolf Callaway Brands Corp. has a 52-week low of $5.42 and a 52-week high of $16.89. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of -87.65 and a beta of 1.25.

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

Wall Street Analyst Weigh In

Several brokerages recently commented on MODG. Truist Financial dropped their target price on shares of Topgolf Callaway Brands from $12.00 to $7.00 and set a “buy” rating on the stock in a report on Monday, April 14th. JPMorgan Chase & Co. decreased their price target on shares of Topgolf Callaway Brands from $11.00 to $9.00 and set a “neutral” rating on the stock in a research report on Thursday, January 23rd. Roth Mkm restated a “buy” rating and issued a $11.00 price target (down from $16.00) on shares of Topgolf Callaway Brands in a research report on Tuesday, February 25th. Finally, B. Riley started coverage on shares of Topgolf Callaway Brands in a research report on Friday. They issued a “neutral” rating and a $7.00 price target on the stock. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $10.50.

Institutional Trading of Topgolf Callaway Brands

Several institutional investors have recently made changes to their positions in MODG. Alliancebernstein L.P. boosted its position in shares of Topgolf Callaway Brands by 97.6% during the 4th quarter. Alliancebernstein L.P. now owns 2,152,565 shares of the company’s stock valued at $16,919,000 after acquiring an additional 1,063,033 shares in the last quarter. Long Focus Capital Management LLC boosted its position in shares of 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 valued at $19,446,000 after acquiring an additional 912,844 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Topgolf Callaway Brands by 57.8% during the 4th quarter. Ameriprise Financial Inc. now owns 2,086,700 shares of the company’s stock valued at $16,401,000 after acquiring an additional 764,322 shares in the last quarter. ExodusPoint Capital Management LP acquired a new stake in shares of Topgolf Callaway Brands during the 4th quarter valued at about $4,769,000. Finally, Claar Advisors LLC acquired a new position in Topgolf Callaway Brands in the fourth quarter valued at about $4,716,000. 84.69% of the stock is currently owned by institutional investors and hedge funds.

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.