Topgolf Callaway Brands (NYSE:CALY) CEO Oliver Brewer III Sells 1,400 Shares

Topgolf Callaway Brands Corp. (NYSE:CALY) CEO Oliver Brewer III sold 1,400 shares of the stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $18.00, for a total value of $25,200.00. Following the completion of the transaction, the chief executive officer directly owned 200,983 shares in the company, valued at $3,617,694. This represents a 0.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Topgolf Callaway Brands Stock Performance

Shares of NYSE:CALY opened at $17.07 on Tuesday. Topgolf Callaway Brands Corp. has a 52-week low of $8.00 and a 52-week high of $20.28. The stock has a market capitalization of $3.05 billion, a PE ratio of 39.70 and a beta of 0.93. The business has a 50-day moving average price of $17.90.

Topgolf Callaway Brands (NYSE:CALY) last issued its earnings results on Tuesday, August 4th. The company reported $0.39 EPS for the quarter, beating 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 company’s quarterly revenue was down 44.9% compared to the same quarter last year. Research analysts expect that Topgolf Callaway Brands Corp. will post 0.75 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on CALY. Weiss Ratings raised shares of Topgolf Callaway Brands from a “sell (d-)” rating to a “hold (c-)” rating in a report on Tuesday, May 12th. Wall Street Zen raised Topgolf Callaway Brands from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. JPMorgan Chase & Co. lifted their price objective on Topgolf Callaway Brands to $18.00 and gave the company a “neutral” rating in a research note on Thursday, June 11th. UBS Group boosted their price objective on Topgolf Callaway Brands from $15.00 to $19.00 and gave the company a “neutral” rating in a report on Friday, June 26th. Finally, Zacks Research downgraded Topgolf Callaway Brands from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 6th. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target 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.