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 Topgolf Callaway Brands stock in a transaction on Monday, May 19th. The shares were acquired at an average price of $6.86 per share, with a total value of $68,600.00. Following the transaction, the executive vice president now directly owns 10,000 shares in the company, valued at $68,600. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Topgolf Callaway Brands Stock Up 3.3%

Shares of Topgolf Callaway Brands stock opened at $6.79 on Wednesday. The stock’s fifty day moving average is $6.54 and its 200-day moving average is $7.45. The firm has a market capitalization of $1.25 billion, a PE ratio of -84.86 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 12-month low of $5.42 and a 12-month high of $16.89.

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

Analysts Set New Price Targets

MODG has been the subject of several research analyst reports. Roth Mkm restated a “buy” rating and issued a $11.00 price objective (down previously from $16.00) on shares of Topgolf Callaway Brands in a report on Tuesday, February 25th. Truist Financial cut their price objective 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. cut their price objective 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, B. Riley initiated coverage on Topgolf Callaway Brands in a report on Friday, May 16th. They issued a “neutral” rating and a $7.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Topgolf Callaway Brands has a consensus rating of “Hold” and a consensus target price of $10.50.

Institutional Investors Weigh In On Topgolf Callaway Brands

A number of institutional investors and hedge funds have recently modified their holdings of MODG. Alliancebernstein L.P. raised 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 during the period. Long Focus Capital Management LLC raised 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 during the period. Ameriprise Financial Inc. raised 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 during the period. ExodusPoint Capital Management LP acquired a new stake in shares of Topgolf Callaway Brands during the fourth quarter worth $4,769,000. Finally, Claar Advisors LLC acquired a new position in Topgolf Callaway Brands during the fourth quarter valued at $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.