29,274 Shares in Topgolf Callaway Brands Corp. (NYSE:MODG) Bought by Picton Mahoney Asset Management

Picton Mahoney Asset Management purchased a new position in Topgolf Callaway Brands Corp. (NYSE:MODG) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 29,274 shares of the company’s stock, valued at approximately $419,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its stake in Topgolf Callaway Brands by 11.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,577,637 shares of the company’s stock valued at $22,623,000 after acquiring an additional 159,912 shares in the last quarter. Maryland State Retirement & Pension System bought a new stake in shares of Topgolf Callaway Brands in the fourth quarter worth about $740,000. River Global Investors LLP purchased a new stake in shares of Topgolf Callaway Brands in the fourth quarter worth about $656,000. Benjamin Edwards Inc. boosted its stake in Topgolf Callaway Brands by 16.5% during the fourth quarter. Benjamin Edwards Inc. now owns 10,983 shares of the company’s stock valued at $157,000 after buying an additional 1,555 shares during the last quarter. Finally, Johnson Financial Group LLC purchased a new position in Topgolf Callaway Brands during the 4th quarter valued at approximately $1,384,000. 84.69% of the stock is owned by institutional investors.

Topgolf Callaway Brands Price Performance

Shares of MODG opened at $16.36 on Thursday. The company has a 50 day moving average of $15.47 and a two-hundred day moving average of $14.07. The company has a quick ratio of 0.88, a current ratio of 1.72 and a debt-to-equity ratio of 0.39. Topgolf Callaway Brands Corp. has a twelve month low of $9.84 and a twelve month high of $21.86. The company has a market cap of $3.00 billion, a price-to-earnings ratio of 35.57, a price-to-earnings-growth ratio of 1.67 and a beta of 1.84.

Topgolf Callaway Brands (NYSE:MODG) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.08. Topgolf Callaway Brands had a return on equity of 2.39% and a net margin of 2.22%. The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter last year, the firm earned $0.17 EPS. The business’s quarterly revenue was down 2.0% on a year-over-year basis. As a group, analysts predict that Topgolf Callaway Brands Corp. will post 0.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Erik J. Anderson sold 5,000 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $14.55, for a total transaction of $72,750.00. Following the transaction, the director now owns 777,959 shares in the company, valued at $11,319,303.45. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Erik J. Anderson sold 5,000 shares of the business’s stock in a transaction 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 sale, the director now directly owns 777,959 shares of the company’s stock, valued at $11,319,303.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Erik J. Anderson sold 2,028 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $14.79, for a total value of $29,994.12. Following the completion of the transaction, the director now owns 2,242 shares of the company’s stock, valued at approximately $33,159.18. The disclosure for this sale can be found here. Corporate insiders own 2.49% of the company’s stock.

Analyst Ratings Changes

MODG has been the topic of several recent research reports. Truist Financial upped their price objective on Topgolf Callaway Brands from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, April 29th. Tigress Financial reissued a “buy” rating and set a $38.00 price objective on shares of Topgolf Callaway Brands in a research note on Friday, April 12th. B. Riley upped their price objective on Topgolf Callaway Brands from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Finally, KeyCorp dropped their target price on Topgolf Callaway Brands from $20.00 to $18.00 and set an “overweight” rating for the company in a report on Wednesday, February 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.91.

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.