Topgolf Callaway Brands Corp. (NYSE:MODG) EVP Glenn F. Hickey Purchases 10,000 Shares

Topgolf Callaway Brands Corp. (NYSE:MODG) EVP Glenn F. Hickey purchased 10,000 shares of the company’s stock in a transaction that occurred on Monday, May 19th. The shares were purchased at an average cost of $6.86 per share, for a total transaction of $68,600.00. Following the purchase, the executive vice president now directly owns 10,000 shares in the company, valued at $68,600. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Topgolf Callaway Brands Price Performance

MODG opened at $6.58 on Tuesday. The company has a 50-day moving average of $6.53 and a 200-day moving average of $7.46. The company has a market capitalization of $1.21 billion, a P/E ratio of -82.24 and a beta of 1.25. Topgolf Callaway Brands Corp. has a 1-year low of $5.42 and a 1-year high of $16.89. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.14 and a current ratio of 1.93.

Topgolf Callaway Brands (NYSE:MODG) last posted its quarterly earnings results on Monday, May 12th. The company reported $0.11 EPS 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 during the quarter, compared to analyst estimates of $1.08 billion. During the same period in the previous year, the business posted $0.08 EPS. The company’s quarterly revenue was down 4.5% on a year-over-year basis. Equities analysts expect that Topgolf Callaway Brands Corp. will post 0.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on MODG shares. B. Riley started coverage on shares of Topgolf Callaway Brands in a research note on Friday. They set a “neutral” rating and a $7.00 price target on the stock. Roth Mkm reaffirmed a “buy” rating and set a $11.00 price target (down previously from $16.00) on shares of Topgolf Callaway Brands in a research note on Tuesday, February 25th. Truist Financial dropped their price target on shares of Topgolf Callaway Brands from $12.00 to $7.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Finally, JPMorgan Chase & Co. dropped 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 note on Thursday, January 23rd. 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 company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $10.50.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Thompson Investment Management Inc. boosted its holdings in shares of Topgolf Callaway Brands by 11.1% in the 4th quarter. Thompson Investment Management Inc. now owns 362,299 shares of the company’s stock valued at $2,848,000 after buying an additional 36,201 shares during the period. Wealthfront Advisers LLC boosted its stake in Topgolf Callaway Brands by 589.5% during the 4th quarter. Wealthfront Advisers LLC now owns 85,807 shares of the company’s stock valued at $674,000 after purchasing an additional 73,362 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Topgolf Callaway Brands by 14.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,286,719 shares of the company’s stock valued at $17,974,000 after purchasing an additional 291,052 shares during the period. Invesco Ltd. boosted its stake in Topgolf Callaway Brands by 41.9% during the 4th quarter. Invesco Ltd. now owns 1,591,742 shares of the company’s stock valued at $12,511,000 after purchasing an additional 469,728 shares during the period. Finally, Requisite Capital Management LLC acquired a new position in Topgolf Callaway Brands during the 4th quarter valued at about $2,426,000. 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.