Topgolf Callaway surges after director unveils buying $2.5 mln worth of stock

Shares of Topgolf Callaway Brands MODG.N up 14.9% to $7.39, a four-week high, on Mon after director discloses stock purchase

MODG shares among top S&P 1500 index .SPSUP performers and on course for biggest one-day pct advance since Apr 2020

Director Adebayo Ogunlesi bought 383,700 shares last week for roughly $2.5 mln, according to SEC filing late Fri

Ogunlesi, CEO of Global Infrastructure Partners, a part of BlackRock Inc BLK.N, now owns about 611,000 shares following the transactions

Carlsbad, California-based MODG has ~183.8 mln shares outstanding, giving it nearly $1.4 bln market cap

Last week, MODG completed $290 mln sale of its German producer of outdoor wear and equipment Jack Wolfskin business to China's ANTA Sports 2020.HK

In Sept, MODG said it would separate into two independent firms - Callaway and Topgolf - via a tax-free spin-off

With move on Mon, stock down ~6% YTD