Topgolf Callaway Brands Corp. (NYSE:MODG) Director Russell L. Fleischer Buys 30,000 Shares

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

Topgolf Callaway Brands Trading Up 5.9%

Shares of MODG stock opened at $7.01 on Friday. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of -87.65 and a beta of 1.25. The company has a quick ratio of 1.14, a current ratio of 1.93 and a debt-to-equity ratio of 0.37. Topgolf Callaway Brands Corp. has a fifty-two week low of $5.42 and a fifty-two week high of $16.89. The firm’s 50 day moving average price is $6.52 and its two-hundred day moving average price is $7.51.

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

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Alliancebernstein L.P. lifted its position in shares of Topgolf Callaway Brands by 97.6% during the fourth quarter. Alliancebernstein L.P. now owns 2,152,565 shares of the company’s stock worth $16,919,000 after purchasing an additional 1,063,033 shares in the last quarter. Long Focus Capital Management LLC lifted its position in shares of Topgolf Callaway Brands by 44.8% during the first quarter. Long Focus Capital Management LLC now owns 2,950,844 shares of the company’s stock worth $19,446,000 after purchasing an additional 912,844 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Topgolf Callaway Brands by 57.8% during the fourth quarter. Ameriprise Financial Inc. now owns 2,086,700 shares of the company’s stock worth $16,401,000 after purchasing an additional 764,322 shares in the last quarter. ExodusPoint Capital Management LP acquired a new position in shares of Topgolf Callaway Brands during the fourth quarter worth $4,769,000. Finally, Claar Advisors LLC acquired a new position in shares of Topgolf Callaway Brands during the fourth quarter worth $4,716,000. 84.69% of the stock is 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.