Glenn Hickey Sells 28,843 Shares of Topgolf Callaway Brands (NYSE:CALY) Stock

Topgolf Callaway Brands Corp. (NYSE:CALY) EVP Glenn Hickey sold 28,843 shares of Topgolf Callaway Brands stock in a transaction that occurred 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 sale, the executive vice president directly owned 72,239 shares of the company’s stock, valued at approximately $1,353,758.86. This trade represents a 28.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Topgolf Callaway Brands Stock Performance

Shares of CALY opened at $16.86 on Wednesday. The company’s fifty day moving average is $17.94. The stock has a market cap of $3.01 billion, a price-to-earnings ratio of 39.21 and a beta of 0.93. Topgolf Callaway Brands Corp. has a 1-year low of $8.21 and a 1-year high of $20.28.

Topgolf Callaway Brands (NYSE:CALY) last released 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 return on equity of 5.86% and a net margin of 3.37%.The firm had revenue of $612.20 million for the quarter. The business’s quarterly revenue was down 44.9% on a year-over-year basis. Research analysts expect that Topgolf Callaway Brands Corp. will post 0.75 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on CALY shares. The Goldman Sachs Group raised their target price on Topgolf Callaway Brands from $17.00 to $19.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. KeyCorp increased their price objective on shares of Topgolf Callaway Brands from $19.00 to $22.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. UBS Group raised their price objective on shares of Topgolf Callaway Brands from $15.00 to $19.00 and gave the stock a “neutral” rating in a report on Friday, June 26th. Wall Street Zen upgraded shares of Topgolf Callaway Brands from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Finally, Zacks Research cut shares of Topgolf Callaway Brands from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 6th. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price 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.