London Co. of Virginia Takes $5.25 Million Position in Topgolf Callaway Brands Corp. (NYSE:MODG)

London Co. of Virginia acquired a new stake in Topgolf Callaway Brands Corp. (NYSE:MODG) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 242,950 shares of the company’s stock, valued at approximately $5,253,000. London Co. of Virginia owned about 0.13% of Topgolf Callaway Brands at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. International Assets Investment Management LLC purchased a new stake in shares of Topgolf Callaway Brands in the 1st quarter valued at $26,000. CWM LLC purchased a new stake in shares of Topgolf Callaway Brands in the 1st quarter valued at $32,000. Benjamin Edwards Inc. purchased a new stake in shares of Topgolf Callaway Brands in the 1st quarter valued at $44,000. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new stake in shares of Topgolf Callaway Brands in the 1st quarter valued at $45,000. Finally, Ameritas Advisory Services LLC purchased a new stake in shares of Topgolf Callaway Brands in the 1st quarter valued at $46,000. 82.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other news, CEO Oliver G. Brewer III bought 10,000 shares of Topgolf Callaway Brands 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 completion of the purchase, the chief executive officer now directly owns 847,556 shares of the company’s stock, valued at $13,738,882.76. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Topgolf Callaway Brands news, Director Erik J. Anderson sold 5,000 shares of Topgolf Callaway Brands stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $17.01, for a total transaction of $85,050.00. Following the transaction, the director now directly owns 842,959 shares of the company’s stock, valued at $14,338,732.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Oliver G. Brewer III purchased 10,000 shares of Topgolf Callaway Brands stock in a transaction dated Friday, August 25th. The stock was bought at an average cost of $16.21 per share, for a total transaction of $162,100.00. Following the completion of the purchase, the chief executive officer now directly owns 847,556 shares in the company, valued at approximately $13,738,882.76. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 30,000 shares of company stock worth $510,600. 11.97% of the stock is owned by insiders.

Topgolf Callaway Brands Stock Performance

MODG opened at $16.49 on Monday. The firm has a market capitalization of $3.06 billion, a PE ratio of 31.11, a PEG ratio of 1.82 and a beta of 1.77. Topgolf Callaway Brands Corp. has a twelve month low of $16.13 and a twelve month high of $25.96. The firm’s 50-day moving average price is $18.32 and its 200 day moving average price is $19.80. The company has a current ratio of 1.78, a quick ratio of 0.88 and a debt-to-equity ratio of 0.39.

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