Insider Selling: Topgolf Callaway Brands (NYSE:CALY) CEO Sells $25,200.00 in Stock

Topgolf Callaway Brands Corp. (NYSE:CALY) CEO Oliver Brewer III sold 1,400 shares of Topgolf Callaway Brands stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $18.00, for a total value of $25,200.00. Following the completion of the sale, the chief executive officer owned 200,983 shares of the company’s stock, valued at approximately $3,617,694. The trade was a 0.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Topgolf Callaway Brands Stock Down 2.1%

Shares of NYSE CALY opened at $16.50 on Thursday. The firm’s 50-day moving average is $17.97. Topgolf Callaway Brands Corp. has a 1-year low of $8.39 and a 1-year high of $20.28. The firm has a market capitalization of $2.95 billion, a price-to-earnings ratio of 38.37 and a beta of 0.93.

Topgolf Callaway Brands (NYSE:CALY) last issued its earnings results on Tuesday, August 4th. The company reported $0.39 earnings per share (EPS) for the quarter, topping 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 company had revenue of $612.20 million for the quarter. The company’s quarterly revenue was down 44.9% on a year-over-year basis. Sell-side analysts forecast that Topgolf Callaway Brands Corp. will post 0.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. B. Riley Financial restated a “buy” rating and set a $23.00 price target (up from $19.00) on shares of Topgolf Callaway Brands in a research report on Wednesday, August 5th. Wall Street Zen upgraded shares of Topgolf Callaway Brands from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Topgolf Callaway Brands in a research note on Friday, August 7th. JPMorgan Chase & Co. increased their target price on shares of Topgolf Callaway Brands to $18.00 and gave the company a “neutral” rating in a research report on Thursday, June 11th. Finally, The Goldman Sachs Group raised their price target on shares of Topgolf Callaway Brands from $17.00 to $19.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus 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.