CIBC Private Wealth Group LLC Purchases 2,730 Shares of Topgolf Callaway Brands Corp. (NYSE:MODG)

CIBC Private Wealth Group LLC raised its stake in Topgolf Callaway Brands Corp. (NYSE:MODGFree Report) by 4.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 58,045 shares of the company’s stock after buying an additional 2,730 shares during the period. CIBC Private Wealth Group LLC’s holdings in Topgolf Callaway Brands were worth $832,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC purchased a new stake in Topgolf Callaway Brands in the 4th quarter valued at about $44,000. JFS Wealth Advisors LLC boosted its position in Topgolf Callaway Brands by 6,063.5% in the 4th quarter. JFS Wealth Advisors LLC now owns 4,561 shares of the company’s stock valued at $65,000 after buying an additional 4,487 shares during the period. PNC Financial Services Group Inc. boosted its position in Topgolf Callaway Brands by 151.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 7,241 shares of the company’s stock valued at $100,000 after buying an additional 4,362 shares during the period. Ranch Capital Advisors Inc. purchased a new stake in Topgolf Callaway Brands in the 3rd quarter valued at about $140,000. Finally, Oak Thistle LLC purchased a new stake in Topgolf Callaway Brands in the 4th quarter valued at about $150,000. 84.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. TD Cowen boosted their price objective on shares of Topgolf Callaway Brands from $10.00 to $13.00 and gave the company a “hold” rating in a research report on Monday, May 13th. KeyCorp lowered 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 report on Wednesday, February 14th. Truist Financial upped their price target on shares of Topgolf Callaway Brands from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. Tigress Financial reaffirmed a “buy” rating and issued a $38.00 price target on shares of Topgolf Callaway Brands in a research report on Friday, April 12th. Finally, B. Riley upped their price target on shares of Topgolf Callaway Brands from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $19.33.

Get Our Latest Analysis on MODG

Insider Buying and Selling at Topgolf Callaway Brands

In other Topgolf Callaway Brands news, Director Erik J. Anderson sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $15.19, for a total transaction of $151,900.00. Following the transaction, the director now owns 767,959 shares in the company, valued at approximately $11,665,297.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Erik J. Anderson sold 7,500 shares of the stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $15.37, for a total value of $115,275.00. Following the sale, the director now owns 760,459 shares in the company, valued at $11,688,254.83. 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 10,000 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $15.19, for a total transaction of $151,900.00. Following the completion of the sale, the director now owns 767,959 shares in the company, valued at approximately $11,665,297.21. The disclosure for this sale can be found here. 2.49% of the stock is currently owned by company insiders.

Topgolf Callaway Brands Trading Down 0.6 %

NYSE MODG opened at $15.35 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.82 and a debt-to-equity ratio of 0.39. The firm has a market cap of $2.82 billion, a PE ratio of 41.49, a price-to-earnings-growth ratio of 2.53 and a beta of 1.80. The company has a 50 day moving average price of $15.72 and a 200 day moving average price of $14.58. Topgolf Callaway Brands Corp. has a 52 week low of $9.84 and a 52 week high of $20.75.

Topgolf Callaway Brands (NYSE:MODGGet Free Report) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.08. Topgolf Callaway Brands had a net margin of 1.80% and a return on equity of 1.93%. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the prior year, the business posted $0.17 EPS. Topgolf Callaway Brands’s revenue for the quarter was down 2.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Topgolf Callaway Brands Corp. will post 0.34 EPS for the current fiscal year.

Topgolf Callaway Brands Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Topgolf Callaway Brands (NYSE:MODG)

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