Topgolf Callaway Brands Corp. (NYSE:MODG) Director Sells $237,762.00 in Stock

Key Points

• Erik J. Anderson, a director at Topgolf Callaway Brands Corp., sold 25,704 shares at an average price of $9.25, totaling approximately $237,762, which reduced his ownership by 55.50%.
• The company reported $0.24 earnings per share (EPS) for the last quarter, significantly surpassing analysts' expectations of $0.03, with revenues of $1.11 billion.
• Recent analyst ratings for Topgolf Callaway Brands have varied, with upgrades and downgrades leading to an average rating of "Hold" and a price target around $10.00.

Topgolf Callaway Brands Corp. (NYSE:MODG - Get Free Report) Director Erik J. Anderson sold 25,704 shares of the business's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $9.25, for a total transaction of $237,762.00. Following the completion of the transaction, the director directly owned 20,607 shares in the company, valued at $190,614.75. This represents a 55.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Topgolf Callaway Brands Stock Up 0.1%

Shares of NYSE:MODG traded up $0.01 during trading on Friday, hitting $9.89. The stock had a trading volume of 2,530,744 shares, compared to its average volume of 3,227,065. The company has a market capitalization of $1.82 billion, a PE ratio of -1.22 and a beta of 1.26. Topgolf Callaway Brands Corp. has a 12 month low of $5.42 and a 12 month high of $11.94. The company has a quick ratio of 1.25, a current ratio of 1.85 and a debt-to-equity ratio of 0.48. The firm's fifty day moving average is $8.80 and its 200 day moving average is $7.40.

Topgolf Callaway Brands (NYSE:MODG - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $0.24 earnings per share for the quarter, topping analysts' consensus estimates of $0.03 by $0.21. Topgolf Callaway Brands had a positive return on equity of 0.37% and a negative net margin of 36.08%. The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the prior year, the business earned $0.42 earnings per share. Topgolf Callaway Brands's revenue was down 4.1% on a year-over-year basis. Analysts anticipate that Topgolf Callaway Brands Corp. will post 0.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC bought a new stake in Topgolf Callaway Brands during the fourth quarter worth about $289,000. Novem Group bought a new stake in Topgolf Callaway Brands in the first quarter valued at approximately $538,000. Invesco Ltd. grew its stake in shares of Topgolf Callaway Brands by 41.9% in the fourth quarter. Invesco Ltd. now owns 1,591,742 shares of the company's stock worth $12,511,000 after acquiring an additional 469,728 shares during the last quarter. Dynamic Advisor Solutions LLC bought a new position in Topgolf Callaway Brands in the first quarter valued at about $66,000. Finally, Claar Advisors LLC purchased a new position in Topgolf Callaway Brands during the 4th quarter valued at approximately $4,716,000. 84.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. B. Riley restated a "neutral" rating and set a $9.50 price objective (up from $7.00) on shares of Topgolf Callaway Brands in a research note on Monday, August 11th. Wall Street Zen upgraded Topgolf Callaway Brands from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Morgan Stanley assumed coverage on Topgolf Callaway Brands in a report on Friday, July 18th. They set an "equal weight" rating and a $9.50 price target for the company. Cfra reiterated a "hold" rating and set a $9.00 price objective on shares of Topgolf Callaway Brands in a research note on Friday, July 11th. Finally, JPMorgan Chase & Co. decreased their price target on Topgolf Callaway Brands from $8.00 to $7.00 and set a "neutral" rating on the stock in a report on Tuesday, May 27th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $10.00.

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.