River Global Investors LLP Takes $656,000 Position in Topgolf Callaway Brands Corp. (NYSE:MODG)

River Global Investors LLP acquired a new stake in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 45,783 shares of the company’s stock, valued at approximately $656,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MODG. Vanguard Group Inc. grew its holdings in shares of Topgolf Callaway Brands by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 13,557,515 shares of the company’s stock worth $187,636,000 after purchasing an additional 116,267 shares during the period. Shapiro Capital Management LLC raised its holdings in shares of Topgolf Callaway Brands by 651.6% in the 3rd quarter. Shapiro Capital Management LLC now owns 9,659,158 shares of the company’s stock valued at $133,683,000 after buying an additional 8,373,946 shares during the period. TimesSquare Capital Management LLC boosted its holdings in Topgolf Callaway Brands by 0.7% during the 3rd quarter. TimesSquare Capital Management LLC now owns 1,684,235 shares of the company’s stock valued at $23,310,000 after acquiring an additional 11,505 shares during the period. Charles Schwab Investment Management Inc. grew its position in Topgolf Callaway Brands by 9.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,417,725 shares of the company’s stock valued at $19,621,000 after acquiring an additional 118,607 shares in the last quarter. Finally, Kennedy Capital Management LLC increased its stake in Topgolf Callaway Brands by 8.2% during the third quarter. Kennedy Capital Management LLC now owns 1,346,554 shares of the company’s stock worth $18,636,000 after purchasing an additional 102,325 shares during the period. 84.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on MODG shares. Tigress Financial reaffirmed a “buy” rating and set a $38.00 price objective on shares of Topgolf Callaway Brands in a research report on Friday, April 12th. B. Riley lifted their price objective on Topgolf Callaway Brands from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday. Truist Financial raised their target price on shares of Topgolf Callaway Brands from $18.00 to $20.00 and gave the company a “buy” rating in a report on Monday, April 29th. Finally, KeyCorp dropped their price objective on shares of Topgolf Callaway Brands from $20.00 to $18.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.91.

Insider Transactions at Topgolf Callaway Brands

In related news, Director Erik J. Anderson sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $14.55, for a total transaction of $72,750.00. Following the completion of the transaction, the director now owns 777,959 shares in the company, valued at $11,319,303.45. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Erik J. Anderson sold 2,028 shares of Topgolf Callaway Brands stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $14.79, for a total value of $29,994.12. Following the completion of the sale, the director now directly owns 2,242 shares in the company, valued at $33,159.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Erik J. Anderson sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $14.55, for a total transaction of $72,750.00. Following the sale, the director now directly owns 777,959 shares of the company’s stock, valued at approximately $11,319,303.45. The disclosure for this sale can be found here. 11.97% of the stock is owned by insiders.

Topgolf Callaway Brands Stock Up 2.1 %

MODG stock traded up $0.33 during midday trading on Monday, hitting $16.33. 556,946 shares of the company’s stock were exchanged, compared to its average volume of 2,439,540. The firm has a 50 day moving average price of $15.34 and a 200-day moving average price of $14.00. Topgolf Callaway Brands Corp. has a 12-month low of $9.84 and a 12-month high of $22.41. The stock has a market capitalization of $3.00 billion, a price-to-earnings ratio of 35.52, a price-to-earnings-growth ratio of 1.67 and a beta of 1.84. The company has a current ratio of 1.72, a quick ratio of 0.88 and a debt-to-equity ratio of 0.39.

Topgolf Callaway Brands (NYSE:MODG) last announced its earnings results on Tuesday, February 13th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.04. Topgolf Callaway Brands had a net margin of 2.22% and a return on equity of 2.39%. The company had revenue of $897.10 million for the quarter, compared to the consensus estimate of $867.25 million. During the same period in the previous year, the business earned ($0.27) EPS. The company’s revenue was up 5.4% on a year-over-year basis. On average, analysts anticipate that Topgolf Callaway Brands Corp. will post 0.29 EPS for the current year.

Topgolf Callaway Brands Profile

Topgolf Callaway Brands Corp. designs, manufactures, and sells golf equipment, golf and lifestyle apparel, and other accessories in the United States, Europe, Asia, and Internationally. The Topgolf segment operates Topgolf venues equipped with technology-enabled hitting bays, bars, dining areas, and event spaces, as well as Toptracer ball-flight tracking technology; and World Golf Tour digital golf game.