GAMMA Investing LLC Purchases Shares of 3,304 Topgolf Callaway Brands Corp. (NYSE:MODG)

GAMMA Investing LLC acquired a new position in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 3,304 shares of the company’s stock, valued at approximately $44,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. raised its stake in Topgolf Callaway Brands by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 13,557,515 shares of the company’s stock valued at $187,636,000 after acquiring an additional 116,267 shares in the last quarter. Shapiro Capital Management LLC raised its stake in shares of Topgolf Callaway Brands by 651.6% during the third quarter. Shapiro Capital Management LLC now owns 9,659,158 shares of the company’s stock valued at $133,683,000 after purchasing an additional 8,373,946 shares in the last quarter. TimesSquare Capital Management LLC lifted its holdings in Topgolf Callaway Brands by 0.7% in the third quarter. TimesSquare Capital Management LLC now owns 1,684,235 shares of the company’s stock worth $23,310,000 after purchasing 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 buying 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 3rd quarter. Kennedy Capital Management LLC now owns 1,346,554 shares of the company’s stock valued at $18,636,000 after buying an additional 102,325 shares during the period. 84.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Topgolf Callaway Brands news, Director Erik J. Anderson sold 2,028 shares of Topgolf Callaway Brands 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 of the company’s stock, valued at approximately $33,159.18. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Topgolf Callaway Brands news, Director Erik J. Anderson sold 2,028 shares of the company’s 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 transaction, the director now owns 2,242 shares in the company, valued at approximately $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 Topgolf Callaway Brands 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 approximately $11,319,303.45. The disclosure for this sale can be found here. Company insiders own 11.97% of the company’s stock.

Topgolf Callaway Brands Stock Performance

Shares of MODG opened at $16.01 on Friday. Topgolf Callaway Brands Corp. has a one year low of $9.84 and a one year high of $22.60. The company has a 50-day moving average of $15.31 and a two-hundred day moving average of $13.98. 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 stock has a market cap of $2.94 billion, a price-to-earnings ratio of 34.78, a PEG ratio of 1.66 and a beta of 1.84.

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. The company had revenue of $897.10 million for the quarter, compared to the consensus estimate of $867.25 million. Topgolf Callaway Brands had a net margin of 2.22% and a return on equity of 2.39%. The company’s revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the business earned ($0.27) EPS. On average, equities research analysts expect that Topgolf Callaway Brands Corp. will post 0.29 earnings per share for the current year.

Analyst Upgrades and Downgrades

MODG has been the subject of a number of research analyst reports. KeyCorp reduced their price target on shares of Topgolf Callaway Brands from $20.00 to $18.00 and set an “overweight” rating for the company in a research note on Wednesday, February 14th. Tigress Financial reaffirmed a “buy” rating and set a $38.00 price target on shares of Topgolf Callaway Brands in a research note on Friday, April 12th. B. Riley boosted their price objective on Topgolf Callaway Brands from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Truist Financial upped their price target 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. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average 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.