Adebayo O. Ogunlesi Buys 60,885 Shares of Topgolf Callaway Brands Corp. (NYSE:MODG) Stock

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, for a total transaction of $393,925.95. Following the purchase, the director now directly owns 60,885 shares in the company, valued at approximately $393,925.95. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Topgolf Callaway Brands Trading Up 15.4%

MODG stock traded up $0.99 during mid-day trading on Monday, reaching $7.42. The company had a trading volume of 3,901,181 shares, compared to its average volume of 2,782,517. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 1.14. The company has a market capitalization of $1.36 billion, a PE ratio of -92.73 and a beta of 1.21. The firm has a 50 day moving average of $6.49 and a 200 day moving average of $7.18. 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 - Get Free Report) last issued its earnings results on Monday, May 12th. The company reported $0.11 EPS for the quarter, topping analysts' consensus estimates of ($0.04) by $0.15. The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate 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 for the quarter was down 4.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.08 EPS. On average, equities analysts predict that Topgolf Callaway Brands Corp. will post 0.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Topgolf Callaway Brands

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Topgolf Callaway Brands by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 15,860,996 shares of the company's stock worth $124,667,000 after acquiring an additional 224,578 shares in the last quarter. Shapiro Capital Management LLC lifted its position in shares of Topgolf Callaway Brands by 3.6% in the 4th quarter. Shapiro Capital Management LLC now owns 10,520,632 shares of the company's stock worth $82,692,000 after purchasing an additional 366,192 shares during the period. Long Focus Capital Management LLC lifted its position in shares of Topgolf Callaway Brands by 44.8% in the 1st 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. Alliancebernstein L.P. lifted its position in shares of Topgolf Callaway Brands by 21.7% in the 1st quarter. Alliancebernstein L.P. now owns 2,618,608 shares of the company's stock worth $17,257,000 after purchasing an additional 466,043 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Topgolf Callaway Brands by 8.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,478,250 shares of the company's stock worth $16,332,000 after purchasing an additional 191,531 shares during the period. 84.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on MODG. Roth Mkm reiterated a "buy" rating and issued a $11.00 price target (down from $16.00) on shares of Topgolf Callaway Brands in a report on Tuesday, February 25th. Wall Street Zen cut shares of Topgolf Callaway Brands from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. B. Riley began coverage on shares of Topgolf Callaway Brands in a research note on Friday, May 16th. They issued a "neutral" rating and a $7.00 price objective for the company. Truist Financial dropped their price objective on shares of Topgolf Callaway Brands from $12.00 to $7.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Topgolf Callaway Brands from $8.00 to $7.00 and set a "neutral" rating for the company in a research note on Tuesday, May 27th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Topgolf Callaway Brands presently has a consensus rating of "Hold" and a consensus price target of $10.30.

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.