Oliver Brewer III Sells 67,474 Shares of Topgolf Callaway Brands (NYSE:CALY) Stock

Topgolf Callaway Brands Corp. (NYSE:CALY) CEO Oliver Brewer III sold 67,474 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $18.30, for a total value of $1,234,774.20. Following the completion of the transaction, the chief executive officer directly owned 201,276 shares of the company’s stock, valued at $3,683,350.80. The trade was a 25.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Topgolf Callaway Brands Stock Performance

Shares of CALY stock opened at $16.86 on Wednesday. The business’s fifty day moving average price is $17.94. The firm has a market capitalization of $3.01 billion, a PE ratio of 39.21 and a beta of 0.93. Topgolf Callaway Brands Corp. has a 1 year low of $8.21 and a 1 year high of $20.28.

Topgolf Callaway Brands (NYSE:CALY) last posted its earnings results on Tuesday, August 4th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate 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. Topgolf Callaway Brands’s revenue for the quarter was down 44.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Topgolf Callaway Brands Corp. will post 0.75 EPS for the current year.

Analysts Set New Price Targets

CALY has been the subject of several recent research reports. Wall Street Zen upgraded shares of Topgolf Callaway Brands from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. The Goldman Sachs Group upped their price target on shares of Topgolf Callaway Brands from $17.00 to $19.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Zacks Research lowered shares of Topgolf Callaway Brands from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 6th. JPMorgan Chase & Co. raised their price objective on shares of Topgolf Callaway Brands to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, June 11th. Finally, UBS Group lifted their price objective on Topgolf Callaway Brands from $15.00 to $19.00 and gave the stock a “neutral” rating in a research report on Friday, June 26th. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price 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.