Topgolf Callaway Brands Corp. (NYSE:MODG) Shares Acquired by Motley Fool Asset Management LLC

Motley Fool Asset Management LLC lifted its position in Topgolf Callaway Brands Corp. (NYSE:MODG) by 8.7% in the fourth quarter, Holdings Channel reports. The firm owned 89,206 shares of the company’s stock after acquiring an additional 7,164 shares during the period. Motley Fool Asset Management LLC’s holdings in Topgolf Callaway Brands were worth $1,279,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new stake in shares of Topgolf Callaway Brands in the third quarter valued at about $882,000. Peregrine Capital Management LLC raised its stake in Topgolf Callaway Brands by 3.3% during the 3rd quarter. Peregrine Capital Management LLC now owns 469,662 shares of the company’s stock valued at $6,500,000 after acquiring an additional 15,130 shares during the last quarter. Sunesis Advisors LLC acquired a new stake in Topgolf Callaway Brands during the 3rd quarter worth approximately $201,000. Cambridge Investment Research Advisors Inc. grew its stake in shares of Topgolf Callaway Brands by 2.7% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 38,792 shares of the company’s stock valued at $537,000 after purchasing an additional 1,010 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its holdings in shares of Topgolf Callaway Brands by 6.1% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 98,730 shares of the company’s stock valued at $1,366,000 after purchasing an additional 5,674 shares during the period. Hedge funds and other institutional investors own 84.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MODG. KeyCorp decreased their price target 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. Raymond James raised their price target on Topgolf Callaway Brands from $14.00 to $16.00 and gave the company an “outperform” rating in a report on Thursday, January 4th. Finally, Tigress Financial reaffirmed a “buy” rating and set a $38.00 price objective on shares of Topgolf Callaway Brands in a report on Friday, April 12th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Topgolf Callaway Brands currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.64.

Insiders Place Their Bets

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

Topgolf Callaway Brands Trading Up 0.8 %

Shares of NYSE:MODG traded up $0.13 during midday trading on Friday, reaching $15.85. The company’s stock had a trading volume of 950,581 shares, compared to its average volume of 2,511,028. The business has a 50 day moving average price of $15.18 and a 200 day moving average price of $13.90. Topgolf Callaway Brands Corp. has a 1 year low of $9.84 and a 1 year high of $22.79. The firm has a market cap of $2.91 billion, a price-to-earnings ratio of 34.46, a price-to-earnings-growth ratio of 1.72 and a beta of 1.87. 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 (NYSE:MODG) last posted its quarterly earnings results on Tuesday, February 13th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.34) by $0.04. The company had revenue of $897.10 million during the quarter, compared to analysts’ expectations of $867.25 million. Topgolf Callaway Brands had a return on equity of 2.39% and a net margin of 2.22%. The firm’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.27) EPS. Research analysts forecast that Topgolf Callaway Brands Corp. will post 0.29 EPS for the current year.

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.