Vanguard Personalized Indexing Management LLC Takes $211,000 Position in Topgolf Callaway Brands Corp. (NYSE:MODG)

Vanguard Personalized Indexing Management LLC purchased a new position in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 9,766 shares of the company’s stock, valued at approximately $211,000.

Other large investors have also recently bought and sold shares of the company. Versor Investments LP acquired a new stake in Topgolf Callaway Brands during the 1st quarter worth $208,000. Credit Suisse AG purchased a new position in Topgolf Callaway Brands during the 1st quarter worth $3,587,000. North Star Investment Management Corp. purchased a new position in Topgolf Callaway Brands during the 1st quarter worth $2,165,000. Avidian Wealth Solutions LLC purchased a new position in Topgolf Callaway Brands during the 1st quarter worth $395,000. Finally, Pictet Asset Management SA purchased a new position in Topgolf Callaway Brands during the 1st quarter worth $382,000. Institutional investors and hedge funds own 82.13% of the company’s stock.

Topgolf Callaway Brands Stock Performance

NYSE:MODG opened at $17.41 on Friday. The company has a current ratio of 1.78, a quick ratio of 0.88 and a debt-to-equity ratio of 0.39. The firm has a 50-day moving average price of $18.61 and a two-hundred day moving average price of $20.07. Topgolf Callaway Brands Corp. has a twelve month low of $16.13 and a twelve month high of $25.96. The company has a market capitalization of $3.23 billion, a P/E ratio of 32.85, a price-to-earnings-growth ratio of 1.85 and a beta of 1.77.

Topgolf Callaway Brands (NYSE:MODG) last posted its earnings results on Tuesday, August 8th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.06. Topgolf Callaway Brands had a net margin of 2.58% and a return on equity of 2.74%. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.19 billion. As a group, research analysts expect that Topgolf Callaway Brands Corp. will post 0.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Oliver G. Brewer III purchased 10,000 shares of the firm’s stock in a transaction on Friday, August 25th. The shares were bought at an average cost of $16.21 per share, with a total value of $162,100.00. Following the purchase, the chief executive officer now directly owns 847,556 shares of the company’s stock, valued at $13,738,882.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Oliver G. Brewer III purchased 10,000 shares of the firm’s stock in a transaction on Friday, August 25th. The shares were bought at an average cost of $16.21 per share, with a total value of $162,100.00. Following the purchase, the chief executive officer now directly owns 847,556 shares of the company’s stock, valued at $13,738,882.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Erik J. Anderson sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $17.01, for a total transaction of $85,050.00. Following the completion of the sale, the director now directly owns 842,959 shares in the company, valued at $14,338,732.59. The disclosure for this sale can be found here. Insiders have sold 30,000 shares of company stock valued at $510,600 in the last ninety days. Insiders own 11.97% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Compass Point cut their price objective on shares of Topgolf Callaway Brands from $34.00 to $31.00 and set a “buy” rating for the company in a research report on Monday, August 21st. The Goldman Sachs Group cut their price target on shares of Topgolf Callaway Brands from $29.00 to $20.00 and set a “neutral” rating for the company in a report on Friday, August 11th. Bank of America cut their price target on shares of Topgolf Callaway Brands from $32.00 to $26.00 in a report on Wednesday, August 9th. Truist Financial cut their price target on shares of Topgolf Callaway Brands from $30.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, August 9th. Finally, Stephens cut their price target on shares of Topgolf Callaway Brands from $33.00 to $26.00 and set an “overweight” rating for the company in a report on Wednesday, August 9th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $28.11.

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. It operates through three segments: Topgolf; Golf Equipment; and Active Lifestyle. 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.