Covestor Ltd Has $87,000 Holdings in Topgolf Callaway Brands Corp. (NYSE:MODG)

Covestor Ltd decreased its stake in Topgolf Callaway Brands Corp. (NYSE:MODG) by 37.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,421 shares of the company’s stock after selling 3,284 shares during the quarter. Covestor Ltd’s holdings in Topgolf Callaway Brands were worth $87,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. GAMMA Investing LLC acquired a new stake in shares of Topgolf Callaway Brands in the fourth quarter valued at approximately $44,000. JFS Wealth Advisors LLC increased its stake in shares of Topgolf Callaway Brands by 6,063.5% in the 4th quarter. JFS Wealth Advisors LLC now owns 4,561 shares of the company’s stock valued at $65,000 after buying an additional 4,487 shares during the period. Caas Capital Management LP acquired a new position in shares of Topgolf Callaway Brands during the fourth quarter valued at $148,000. Oak Thistle LLC bought a new position in Topgolf Callaway Brands in the fourth quarter valued at about $150,000. Finally, Benjamin Edwards Inc. boosted its holdings in Topgolf Callaway Brands by 16.5% in the fourth quarter. Benjamin Edwards Inc. now owns 10,983 shares of the company’s stock valued at $157,000 after acquiring an additional 1,555 shares during the last quarter. 84.69% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on MODG shares. Tigress Financial restated a “buy” rating and set a $38.00 target price on shares of Topgolf Callaway Brands in a research report on Friday, April 12th. Truist Financial lifted their target price on shares of Topgolf Callaway Brands from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, April 29th. B. Riley increased their price target on Topgolf Callaway Brands from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Finally, TD Cowen lifted their price objective on Topgolf Callaway Brands from $10.00 to $13.00 and gave the stock a “hold” rating in a research note on Monday, May 13th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $19.33.

Topgolf Callaway Brands Stock Down 0.6 %

Shares of NYSE MODG traded down $0.09 during mid-day trading on Wednesday, reaching $15.56. 377,098 shares of the company’s stock were exchanged, compared to its average volume of 2,206,665. Topgolf Callaway Brands Corp. has a twelve month low of $9.84 and a twelve month high of $20.14. The company has a current ratio of 1.82, a quick ratio of 1.02 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $2.86 billion, a price-to-earnings ratio of 42.30, a PEG ratio of 2.57 and a beta of 1.77. The business has a fifty day simple moving average of $15.15 and a 200 day simple moving average of $14.97.

Topgolf Callaway Brands (NYSE:MODG) last posted its earnings results on Wednesday, May 8th. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.08. The business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Topgolf Callaway Brands had a return on equity of 1.93% and a net margin of 1.80%. Topgolf Callaway Brands’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.17 EPS. As a group, equities analysts expect that Topgolf Callaway Brands Corp. will post 0.34 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Erik J. Anderson sold 10,000 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $15.19, for a total value of $151,900.00. Following the sale, the director now directly owns 767,959 shares in the company, valued at $11,665,297.21. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Erik J. Anderson sold 7,500 shares of the stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $15.37, for a total transaction of $115,275.00. Following the completion of the transaction, the director now owns 760,459 shares in the company, valued at $11,688,254.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Erik J. Anderson sold 10,000 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $15.19, for a total transaction of $151,900.00. Following the completion of the transaction, the director now directly owns 767,959 shares of the company’s stock, valued at approximately $11,665,297.21. The disclosure for this sale can be found here. Company insiders own 2.49% of the company’s stock.

About Topgolf Callaway Brands

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.