GAMMA Investing LLC Makes New Investment in Topgolf Callaway Brands Corp. (NYSE:MODG)

GAMMA Investing LLC purchased a new position in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 3,304 shares of the company’s stock, valued at approximately $44,000.

Other institutional investors have also added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. grew its position in shares of Topgolf Callaway Brands by 2.7% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 38,792 shares of the company’s stock worth $537,000 after purchasing an additional 1,010 shares in the last quarter. New York State Common Retirement Fund raised its holdings in Topgolf Callaway Brands by 0.9% in the 4th quarter. New York State Common Retirement Fund now owns 166,700 shares of the company’s stock valued at $2,390,000 after acquiring an additional 1,406 shares in the last quarter. Wolff Wiese Magana LLC lifted its position in shares of Topgolf Callaway Brands by 87.8% during the 3rd quarter. Wolff Wiese Magana LLC now owns 3,317 shares of the company’s stock valued at $46,000 after acquiring an additional 1,551 shares during the period. Covestor Ltd increased its position in shares of Topgolf Callaway Brands by 10.1% in the third quarter. Covestor Ltd now owns 17,677 shares of the company’s stock worth $245,000 after purchasing an additional 1,622 shares during the period. Finally, Raymond James & Associates raised its stake in Topgolf Callaway Brands by 2.3% in the fourth quarter. Raymond James & Associates now owns 99,827 shares of the company’s stock valued at $1,432,000 after purchasing an additional 2,258 shares in the last quarter. 84.69% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Erik J. Anderson sold 5,000 shares of the company’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 $11,319,303.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other 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 value of $29,994.12. Following the completion of the transaction, the director now directly owns 2,242 shares of the company’s stock, valued at approximately $33,159.18. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Erik J. Anderson sold 5,000 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $14.55, for a total value of $72,750.00. Following the sale, the director now owns 777,959 shares in the company, valued at approximately $11,319,303.45. The disclosure for this sale can be found here. Insiders own 11.97% of the company’s stock.

Wall Street Analyst Weigh In

MODG has been the topic of several recent analyst reports. Truist Financial raised their target price 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. Tigress Financial reissued a “buy” rating and issued a $38.00 price objective on shares of Topgolf Callaway Brands in a research note on Friday, April 12th. KeyCorp cut their target price on 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. Finally, B. Riley boosted their price target on Topgolf Callaway Brands from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Topgolf Callaway Brands has an average rating of “Moderate Buy” and an average price target of $19.91.

Topgolf Callaway Brands Trading Down 0.8 %

Shares of MODG stock opened at $16.01 on Friday. The stock’s fifty day simple moving average is $15.31 and its 200 day simple moving average is $13.98. The firm has a market capitalization of $2.94 billion, a P/E ratio of 34.78, a P/E/G ratio of 1.66 and a beta of 1.84. Topgolf Callaway Brands Corp. has a twelve month low of $9.84 and a twelve month high of $22.60. The company has a quick ratio of 0.88, a current ratio of 1.72 and a debt-to-equity ratio of 0.39.

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