Topgolf Callaway Brands Corp. (NYSE:MODG) Director Adebayo O. Ogunlesi Purchases 60,885 Shares

Topgolf Callaway Brands Corp. (NYSE:MODG - Get Free Report) Director Adebayo O. Ogunlesi purchased 60,885 shares of the company's stock in a transaction dated Wednesday, June 4th. The shares were acquired at an average price of $6.47 per share, with a total value of $393,925.95. Following the transaction, the director now owns 60,885 shares in the company, valued at approximately $393,925.95. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Topgolf Callaway Brands Trading Down 0.1%

Shares of MODG stock traded down $0.01 on Friday, hitting $6.44. 1,955,967 shares of the company's stock traded hands, compared to its average volume of 2,767,606. 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 Corp. has a one year low of $5.42 and a one year high of $16.89. The company's fifty day simple moving average is $6.47 and its 200 day simple moving average is $7.22. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of -80.43 and a beta of 1.21.

Topgolf Callaway Brands (NYSE:MODG - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.15. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.08 billion. Topgolf Callaway Brands had a negative net margin of 0.29% and a positive return on equity of 1.20%. The company's revenue was down 4.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.08 earnings per share. Equities analysts forecast that Topgolf Callaway Brands Corp. will post 0.16 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on MODG shares. Truist Financial lowered their target price 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. B. Riley assumed coverage on shares of Topgolf Callaway Brands in a report on Friday, May 16th. They issued a "neutral" rating and a $7.00 price target on the stock. Wall Street Zen cut shares of Topgolf Callaway Brands from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Roth Mkm reiterated a "buy" rating and issued a $11.00 target price (down from $16.00) on shares of Topgolf Callaway Brands in a research report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. reduced their target price on Topgolf Callaway Brands from $8.00 to $7.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 27th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $10.30.

Hedge Funds Weigh In On Topgolf Callaway Brands

Large investors have recently bought and sold shares of the stock. Alliancebernstein L.P. boosted its stake 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 valued at $16,919,000 after purchasing an additional 1,063,033 shares during the period. Long Focus Capital Management LLC boosted its position in Topgolf Callaway Brands by 44.8% during the 1st quarter. Long Focus Capital Management LLC now owns 2,950,844 shares of the company's stock valued at $19,446,000 after buying an additional 912,844 shares during the period. Ameriprise Financial Inc. grew its holdings in Topgolf Callaway Brands by 57.8% in the 4th quarter. Ameriprise Financial Inc. now owns 2,086,700 shares of the company's stock worth $16,401,000 after acquiring an additional 764,322 shares during the last quarter. ExodusPoint Capital Management LP purchased a new position in shares of Topgolf Callaway Brands in the fourth quarter valued at about $4,769,000. Finally, Claar Advisors LLC purchased a new position in shares of Topgolf Callaway Brands in the fourth quarter valued at about $4,716,000. 84.69% of the stock is owned by hedge funds and other institutional investors.

Topgolf Callaway Brands Company Profile

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.

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