Oliver Brewer III Sells 1,400 Shares of Topgolf Callaway Brands (NYSE:CALY) Stock

Topgolf Callaway Brands Corp. (NYSE:CALY) CEO Oliver Brewer III sold 1,400 shares of the firm’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $18.00, for a total value of $25,200.00. Following the completion of the transaction, the chief executive officer owned 200,983 shares of the company’s stock, valued at approximately $3,617,694. The trade was a 0.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Topgolf Callaway Brands Price Performance

Shares of Topgolf Callaway Brands stock traded down $0.52 on Monday, reaching $17.07. 1,702,178 shares of the stock were exchanged, compared to its average volume of 2,747,758. Topgolf Callaway Brands Corp. has a twelve month low of $8.00 and a twelve month high of $20.28. The company has a 50 day simple moving average of $17.86. The company has a market capitalization of $3.05 billion, a price-to-earnings ratio of 39.70 and a beta of 0.93.

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

Analysts Set New Price Targets

CALY has been the topic of several recent research reports. UBS Group upped their price target on shares of Topgolf Callaway Brands from $15.00 to $19.00 and gave the company a “neutral” rating in a report on Friday, June 26th. KeyCorp lifted their price objective 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. Weiss Ratings raised Topgolf Callaway Brands from a “sell (d-)” rating to a “hold (c-)” rating in a report on Tuesday, May 12th. Zacks Research downgraded Topgolf Callaway Brands from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Finally, B. Riley Financial reaffirmed a “buy” rating and set a $23.00 target price (up from $19.00) on shares of Topgolf Callaway Brands in a report on Wednesday, August 5th. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $20.00.

About Topgolf Callaway Brands

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.