Topgolf Callaway Brands (NYSE:CALY) EVP Sells $540,517.82 in Stock

Topgolf Callaway Brands Corp. (NYSE:CALY) EVP Glenn Hickey sold 28,843 shares of Topgolf Callaway Brands stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $18.74, for a total transaction of $540,517.82. Following the completion of the transaction, the executive vice president directly owned 72,239 shares of the company’s stock, valued at approximately $1,353,758.86. This represents a 28.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Topgolf Callaway Brands Trading Down 2.1%

CALY stock opened at $16.50 on Thursday. The company has a market capitalization of $2.95 billion, a price-to-earnings ratio of 38.37 and a beta of 0.93. Topgolf Callaway Brands Corp. has a 1-year low of $8.39 and a 1-year high of $20.28. The company’s fifty day simple moving average is $17.97.

Topgolf Callaway Brands (NYSE:CALY) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.04. Topgolf Callaway Brands had a net margin of 3.37% and a return on equity of 5.86%. The company had revenue of $612.20 million for the quarter. The business’s quarterly revenue was down 44.9% on a year-over-year basis. As a group, equities research analysts predict that Topgolf Callaway Brands Corp. will post 0.75 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CALY. KeyCorp lifted their target price on Topgolf Callaway Brands from $19.00 to $22.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. JPMorgan Chase & Co. increased their price target on Topgolf Callaway Brands to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, June 11th. UBS Group boosted their price objective on Topgolf Callaway Brands from $15.00 to $19.00 and gave the company a “neutral” rating in a research report on Friday, June 26th. The Goldman Sachs Group upped their price objective on Topgolf Callaway Brands from $17.00 to $19.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Finally, B. Riley Financial reaffirmed a “buy” rating and issued a $23.00 target price (up from $19.00) on shares of Topgolf Callaway Brands in a research report on Wednesday, August 5th. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $20.00.

Topgolf Callaway Brands Company Profile

Topgolf Callaway Brands plc (NYSE: MODG) is a leading global sports and entertainment company formed through the merger of Callaway Golf Company and Topgolf Entertainment Group in July 2022. The company combines Callaway’s heritage in golf equipment design and manufacturing with Topgolf’s innovative, technology-driven entertainment venues. Topgolf Callaway Brands serves a diverse audience of golf enthusiasts, casual players and social visitors, offering experiences that span both competitive sport and leisure activities.

Under the Callaway Golf brand, the company develops and markets a broad portfolio of premium golf clubs, balls, accessories and apparel.