Shares of Callaway Golf (MODG), also known as TopGolf Callaway Brands Corp., soared 5.14% in pre-market trading on Friday, following reports of significant insider buying activity. The stock's upward movement signals increased investor confidence in the company's prospects.

According to recent filings, two key insiders have acquired common shares of the company. Russell L. Fleischer, a director of TopGolf Callaway Brands Corp., reported an acquisition of common shares. More notably, Oliver G. Brewer III, the company's President and CEO, also reported a purchase of common shares. These insider transactions were disclosed in separate filings made public on May 15, 2025.

Insider buying, particularly by high-level executives such as the CEO, is often interpreted as a bullish signal by investors. It suggests that those with intimate knowledge of the company's operations and future outlook are confident enough to invest their own money in the stock. This vote of confidence from insiders may be driving the pre-market surge in Callaway Golf's stock price, as external investors view it as a positive indicator of the company's potential future performance.