Louisiana State Employees Retirement System Invests $1.02 Million in Topgolf Callaway Brands Corp. (NYSE:MODG)

Louisiana State Employees Retirement System bought a new position in Topgolf Callaway Brands Corp. (NYSE:MODG) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 71,100 shares of the company’s stock, valued at approximately $1,020,000.

Other large investors have also made changes to their positions in the company. Wolff Wiese Magana LLC raised its position in shares of Topgolf Callaway Brands by 87.8% in the 3rd quarter. Wolff Wiese Magana LLC now owns 3,317 shares of the company’s stock worth $46,000 after buying an additional 1,551 shares during the period. PNC Financial Services Group Inc. raised its position in Topgolf Callaway Brands by 151.5% in the third quarter. PNC Financial Services Group Inc. now owns 7,241 shares of the company’s stock valued at $100,000 after purchasing an additional 4,362 shares during the period. Ranch Capital Advisors Inc. purchased a new position in Topgolf Callaway Brands in the third quarter valued at about $140,000. Park Avenue Securities LLC purchased a new position in Topgolf Callaway Brands in the third quarter valued at about $150,000. Finally, Wealthfront Advisers LLC purchased a new position in Topgolf Callaway Brands in the third quarter valued at about $150,000. 84.69% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Erik J. Anderson sold 5,000 shares of Topgolf Callaway Brands stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $14.55, for a total transaction of $72,750.00. Following 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 filing with the SEC, which is accessible through this link. In related news, Director Erik J. Anderson sold 2,028 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 2,242 shares of the company’s stock, valued at $33,159.18. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Erik J. Anderson sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $14.55, for a total value of $72,750.00. Following the sale, the director now directly owns 777,959 shares in the company, valued at approximately $11,319,303.45. The disclosure for this sale can be found here. Corporate insiders own 11.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. KeyCorp cut their price objective on Topgolf Callaway Brands from $20.00 to $18.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 14th. Raymond James raised their target price on Topgolf Callaway Brands from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Thursday, January 4th. Finally, Tigress Financial restated a “buy” rating and set a $38.00 target price on shares of Topgolf Callaway Brands in a research note on Friday, April 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $20.64.

Topgolf Callaway Brands Stock Up 0.1 %

NYSE:MODG opened at $16.18 on Thursday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.88 and a current ratio of 1.72. The stock has a 50-day simple moving average of $15.14 and a 200 day simple moving average of $13.87. Topgolf Callaway Brands Corp. has a one year low of $9.84 and a one year high of $22.79. The company has a market capitalization of $2.97 billion, a price-to-earnings ratio of 35.17, a price-to-earnings-growth ratio of 1.68 and a beta of 1.87.

Topgolf Callaway Brands (NYSE:MODG) last issued its earnings results on Tuesday, February 13th. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.04. Topgolf Callaway Brands had a return on equity of 2.39% and a net margin of 2.22%. The company had revenue of $897.10 million during the quarter, compared to the consensus estimate of $867.25 million. During the same period in the previous year, the firm posted ($0.27) earnings per share. Topgolf Callaway Brands’s quarterly revenue was up 5.4% compared to the same quarter last year. Sell-side analysts predict that Topgolf Callaway Brands Corp. will post 0.29 EPS for the current fiscal year.

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.