Motley Fool Asset Management LLC Purchases 7,164 Shares of Topgolf Callaway Brands Corp. (NYSE:MODG)

Motley Fool Asset Management LLC lifted its holdings in Topgolf Callaway Brands Corp. (NYSE:MODG) by 8.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 89,206 shares of the company’s stock after purchasing an additional 7,164 shares during the period. Motley Fool Asset Management LLC’s holdings in Topgolf Callaway Brands were worth $1,279,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in MODG. GAMMA Investing LLC purchased a new position in shares of Topgolf Callaway Brands during the 4th quarter valued at about $44,000. Wolff Wiese Magana LLC increased its stake in shares of Topgolf Callaway Brands by 87.8% in the third quarter. Wolff Wiese Magana LLC now owns 3,317 shares of the company’s stock worth $46,000 after purchasing an additional 1,551 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Topgolf Callaway Brands by 151.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 7,241 shares of the company’s stock valued at $100,000 after purchasing an additional 4,362 shares during the period. Ranch Capital Advisors Inc. purchased a new position in shares of Topgolf Callaway Brands during the 3rd quarter valued at $140,000. Finally, Park Avenue Securities LLC bought a new position in Topgolf Callaway Brands in the 3rd quarter worth $150,000. 84.69% of the stock is currently owned by institutional investors.

Topgolf Callaway Brands Trading Up 0.8 %

Shares of Topgolf Callaway Brands stock traded up $0.13 during trading on Friday, hitting $15.85. The stock had a trading volume of 950,581 shares, compared to its average volume of 2,511,028. Topgolf Callaway Brands Corp. has a 12 month low of $9.84 and a 12 month high of $22.79. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.72 and a quick ratio of 0.88. The firm’s fifty day simple moving average is $15.18 and its 200-day simple moving average is $13.90. The stock has a market cap of $2.91 billion, a PE ratio of 34.46, a PEG ratio of 1.72 and a beta of 1.87.

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 return on equity of 2.39% and a net margin of 2.22%. The business had revenue of $897.10 million during the quarter, compared to analyst estimates of $867.25 million. During the same quarter in the previous year, the business earned ($0.27) earnings per share. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, sell-side analysts expect that Topgolf Callaway Brands Corp. will post 0.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MODG has been the topic of several research analyst reports. KeyCorp lowered their price objective on 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. Tigress Financial reissued a “buy” rating and issued a $38.00 target price on shares of Topgolf Callaway Brands in a report on Friday, April 12th. Finally, Raymond James boosted their price target on shares of Topgolf Callaway Brands from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Thursday, January 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $20.64.

Insider Activity

In other Topgolf Callaway Brands news, Director Erik J. Anderson sold 2,028 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $14.79, for a total value of $29,994.12. Following the transaction, the director now directly owns 2,242 shares in the company, valued at approximately $33,159.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related 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 value of $72,750.00. Following the completion of the sale, the director now directly owns 777,959 shares of the company’s stock, valued at $11,319,303.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Erik J. Anderson sold 2,028 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $14.79, for a total transaction of $29,994.12. Following the transaction, the director now owns 2,242 shares in the company, valued at $33,159.18. The disclosure for this sale can be found here. Insiders own 11.97% of the company’s stock.

Topgolf Callaway Brands Company 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.