Insider Selling: Topgolf Callaway Brands (NYSE:CALY) EVP Sells $540,517.82 in Stock

Topgolf Callaway Brands Corp. (NYSE:CALY) EVP Glenn Hickey sold 28,843 shares of the business’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $18.74, for a total value of $540,517.82. Following the completion of the sale, the executive vice president owned 72,239 shares in the company, valued at approximately $1,353,758.86. The trade was a 28.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Topgolf Callaway Brands Price Performance

Shares of NYSE CALY traded down $0.52 during trading on Monday, reaching $17.07. 1,702,178 shares of the stock traded hands, compared to its average volume of 2,747,758. The stock has a market cap of $3.05 billion, a PE ratio of 39.70 and a beta of 0.93. Topgolf Callaway Brands Corp. has a 52-week low of $8.00 and a 52-week high of $20.28. The firm has a 50-day moving average of $17.86.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. The Goldman Sachs Group increased their target price on Topgolf Callaway Brands from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. KeyCorp raised their target price on 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 upped their price target on Topgolf Callaway Brands from $15.00 to $19.00 and gave the company a “neutral” rating in a research report on Friday, June 26th. Wall Street Zen upgraded Topgolf Callaway Brands from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Finally, Weiss Ratings raised Topgolf Callaway Brands from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Tuesday, May 12th. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target 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.