332,017 Shares in Topgolf Callaway Brands Corp. $CALY Acquired by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Topgolf Callaway Brands Corp. (NYSE:CALY) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 332,017 shares of the company’s stock, valued at approximately $6,239,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.19% of Topgolf Callaway Brands as of its most recent SEC filing.

Separately, Wellington Management Group LLP purchased a new position in Topgolf Callaway Brands in the second quarter valued at approximately $268,370,000. Hedge funds and other institutional investors own 84.69% of the company’s stock.

Insider Activity at Topgolf Callaway Brands

In related news, CEO Oliver G. Brewer III sold 1,400 shares of the business’s stock in a transaction dated 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 directly owned 200,983 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available through this link. Also, EVP Glenn F. Hickey sold 28,843 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president owned 72,239 shares in the company, valued at $1,353,758.86. The trade was a 28.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 97,717 shares of company stock worth $1,800,492 over the last 90 days. 2.91% of the stock is owned by company insiders.

Topgolf Callaway Brands Price Performance

Topgolf Callaway Brands stock opened at $15.59 on Wednesday. Topgolf Callaway Brands Corp. has a 12-month low of $8.39 and a 12-month high of $20.28. The stock has a market cap of $2.78 billion, a P/E ratio of 36.24 and a beta of 0.93. The business’s fifty day moving average price is $17.42.

Topgolf Callaway Brands (NYSE:CALY) last announced 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 during the quarter. The business’s revenue was down 44.9% compared to the same quarter last year. As a group, sell-side analysts predict that Topgolf Callaway Brands Corp. will post 0.75 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CALY. Truist Financial lifted their price target on shares of Topgolf Callaway Brands from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, September 1st. KeyCorp upped their price target on shares of Topgolf Callaway Brands from $19.00 to $22.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. JPMorgan Chase & Co. increased their price target on Topgolf Callaway Brands to $18.00 and gave the company a “neutral” rating in a report on Thursday, June 11th. The Goldman Sachs Group raised their price objective on Topgolf Callaway Brands from $17.00 to $19.00 and gave the company a “neutral” rating in a research report on Wednesday, August 5th. Finally, Wall Street Zen upgraded Topgolf Callaway Brands from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Three equities research 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 currently has an average rating of “Hold” and a consensus target price of $20.17.

Topgolf Callaway Brands 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.