MODG Topgolf Callaway Brands Corp. Insider Trading

Director Erik J Anderson sold 100,000 shares (100.0K shares) for $1,677,500.00 at CALY; stock at $14.96, down -16.9% from 52-week high.

Erik J Anderson, a Director at Callaway Golf, executed 3 separate sales totaling 100,000 shares for $1,677,500.00 across May 11–12, 2026, at a blended average price of $16.78 per share. His post-transaction holdings remain substantial at 580,459 shares, representing a -14.7% reduction from his pre-transaction level of 680,459 shares. The sale occurred while the stock trades at $14.96, which is -16.9% from its 52-week high of $18.00 and has declined -2.6% over the 30-day period. Notably, the company reported a full-year net loss in its most recent fiscal year despite current quarter revenue of $687,500,000.00 and net income of $93,100,000.00, with annual revenue growth showing a steep -51.4% decline year-over-year. The volume and price points of this multi-transaction filing merit scrutiny given the company's deteriorating annual financial trajectory.

PEP TG Investments GP LLC (10% owner) sold 10,000,000 shares of CALY at $14.70; holdings reduced 47.2% to 11.18M shares

A principal 10% shareholder in Callaway Golf executed a substantial $147.0M sale of 10,000,000 shares, reducing its stake by 47.2% within days of the company's IPO listing. The transaction occurs in a context where the company remains unprofitable (net income of $-14.7M in the latest quarter, negative full-year performance), though revenue stands at $934.0M with annual growth of -1.1%. The magnitude and timing of this reduction—placing a secondary offering only 8 trading days post-listing—is material; the filer retains 11.18M shares but has publicly signaled a half-sized exit from peak ownership, warranting scrutiny of the company's financial trajectory and insider confidence in near-term operations.

CEO Artie Starrs sells 106,734 shares of Topgolf (MODG) for $921,836.59, halving stake from 212,557 shares to 105,823 shares

Artie Starrs, CEO of Topgolf, executed 2 separate sales on 2025-08-12 totaling 106,734 shares at a blended average price of $8.64, reducing his holdings by -50.2% from 212,557 shares to 105,823 shares. The company faces near-flat revenue growth (-1.1% annual growth) and was unprofitable over its most recent full fiscal year, while the stock trades -28.6% below its 52-week high. A 50% reduction of CEO equity is a substantial step that occurs in contexts ranging from portfolio adjustment to liquidity needs, and occurs against a backdrop of weak fundamentals—though the magnitude alone warrants investor attention given the leadership's commitment signal through retained holdings.

Director Ogunlesi bought 461,583 shares over 3 days (Jun 6–10) for $3,055,995.21 at avg $6.62, raising stake 120.3% to 845,284 shares.

Director Adebayo O. Ogunlesi executed 3 separate purchases totaling 461,583 shares for $3,055,995.21 between June 6–10, 2025, at prices ranging from $6.48 to $7.59 (blended $6.62). This acquisition increased his holdings from 383,701 to 845,284 shares, a 120.3% increase in stake size at a company with $1.4B market cap. The timing coincides with the stock trading -53.3% below its 52-week high, though the 30-day trend shows +4.9% and 90-day trend shows +25.4%. Across his prior open-market history, Ogunlesi's 3 prior buys averaged -12.9% 90-day returns with 0% win rate, and at this same ticker his prior buy on 2023-06-08 produced -12.9% 90-day returns; notably, the company was unprofitable over its most recent full fiscal year despite $1.1B in quarterly revenue.

Director Adebayo Ogunlesi buys 383.7K shares in 2 tranches at blended avg $6.47 for $2.5M at Topgolf Callaway (MODG).

Ogunlesi purchased 383,701 shares across two open-market transactions on 2025-06-04 and 2025-06-05, paying a blended average price of $6.47 and investing $2,481,049.49 in total. This represents a new position of 383.7K shares for the director. The stock trades at $6.43 currently, down 61.0% from its 52-week high and off 7.8% over the past 30 days, suggesting the purchase occurred during a period of depressed valuation. Fundamentally, MODG's revenues declined 1.1% year-over-year to $1.1B, and the company posted a net loss over its most recent full fiscal year, indicating operational headwinds. While Ogunlesi's prior buy at this ticker on 2023-06-08 delivered only +1.5% over 30 days and -12.9% over 90 days, his cross-ticker track record shows a 0.00% win rate on prior buys at the 90-day horizon, suggesting a pattern of poorly-timed entries across his trading history.

Hickey (EVP & Pres.) buys 10,000 shares at $6.86; part of 3-insider buy cluster in 14 days as MODG trades -60.2% from 52-week high.

Hickey Glenn F., EVP and President at Topgolf Callaway Brands, purchased 10,000 shares at $6.86 on May 19, 2025, building a new position with zero prior holdings. This transaction is part of a cluster pattern in which 2 other insiders also purchased shares within the same 14-day window. The stock currently trades at $6.57, approximately 60.2% below its 52-week high of $16.50, creating a compressed valuation context. The company reported net income of $2.1M on revenue of $1.1B in the latest quarter but was unprofitable over its most recent full fiscal year, signaling operational headwinds that may constrain recovery. The synchronized buying activity across three insiders during a depressed price period represents a notable concentration of insider participation, though the company's underlying fundamentals remain challenged.

Topgolf CEO Oliver Brewer III purchases 20,000 shares for $128,037.89; stock down 59.9% from 52-week high of $16.50

Oliver Brewer III, President and CEO of Topgolf Callaway Brands, executed two separate purchases totaling 20,000 shares (20.0K shares) on 2025-05-14 for $128,037.89 at a blended average price of $6.40, increasing his holdings from 989,297 to 1,009,297 shares. The transaction occurs with the stock trading at $6.62, representing a 59.9% decline from its 52-week high of $16.50. His track record at this ticker shows all 5 prior buys were well-timed, with 90-day returns ranging from 24.9% to 39.3%, establishing a pattern of prescient entry points. The company faces fundamental headwinds: it is unprofitable on an annual basis, revenue declined 1.1% year-over-year, and the stock has fallen 8.9% over 90 days despite a recent 30-day rebound of 6.8%. The CEO's accumulation at depressed levels, paired with his historical accuracy in timing at this stock, provides a meaningful signal regarding his assessment of current valuation.

Director Russell Fleischer buys 30,000 MODG shares for $192,361.00 across 2 transactions at $6.41–$6.42; holdings rise 34.8%.

Fleischer, a director at Topgolf Callaway Brands, executed 2 open-market purchases totaling 30,000 shares for $192,361.00, increasing his holdings from 86,187 to 116,187 shares (+34.8%). The shares were acquired at a blended average price of $6.41, slightly below the current price of $6.62 and substantially below the 52-week high of $16.50 (stock is currently -59.9% from that peak). His prior buy at this ticker in November 2023 posted a +34.0% gain within 90 days, suggesting a pattern of well-timed entry points. However, the company's fundamentals remain challenged: it posted net income of $2,100,000.00 on revenue of $1,092,300,000.00 last quarter and was unprofitable over its most recent full fiscal year, while annual revenue declined -1.1% year-over-year. The accumulation occurs amid a depressed price environment, making it difficult to assess whether this represents conviction-driven accumulation or tactical liquidity-seeking at a discounted valuation.