State of Alaska Department of Revenue Has $1.40 Million Holdings in Topgolf Callaway Brands Corp. (NYSE:MODG)

State of Alaska Department of Revenue lessened its holdings in shares of Topgolf Callaway Brands Corp. (NYSE:MODGFree Report) by 1.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,552 shares of the company’s stock after selling 854 shares during the quarter. State of Alaska Department of Revenue’s holdings in Topgolf Callaway Brands were worth $1,399,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of MODG. Quadrature Capital Ltd purchased a new position in Topgolf Callaway Brands during the 3rd quarter valued at about $189,000. TimesSquare Capital Management LLC grew its stake in shares of Topgolf Callaway Brands by 0.7% in the 3rd quarter. TimesSquare Capital Management LLC now owns 1,684,235 shares of the company’s stock valued at $23,310,000 after buying an additional 11,505 shares in the last quarter. Graham Capital Management L.P. grew its stake in shares of Topgolf Callaway Brands by 82.2% in the 3rd quarter. Graham Capital Management L.P. now owns 96,508 shares of the company’s stock valued at $1,336,000 after buying an additional 43,553 shares in the last quarter. ASB Consultores LLC bought a new stake in shares of Topgolf Callaway Brands in the 3rd quarter valued at approximately $220,000. Finally, Neo Ivy Capital Management grew its stake in shares of Topgolf Callaway Brands by 758.0% in the 3rd quarter. Neo Ivy Capital Management now owns 71,560 shares of the company’s stock valued at $990,000 after buying an additional 63,220 shares in the last quarter. Hedge funds and other institutional investors own 84.69% of the company’s stock.

Insider Activity at Topgolf Callaway Brands

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

Analyst Ratings Changes

Several brokerages recently commented on MODG. Tigress Financial reissued a “buy” rating and issued a $38.00 price target on shares of Topgolf Callaway Brands in a research note on Friday, April 12th. Truist Financial boosted their price target on Topgolf Callaway Brands from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, April 29th. B. Riley boosted their price target on Topgolf Callaway Brands from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Finally, TD Cowen boosted their target price on Topgolf Callaway Brands from $10.00 to $13.00 and gave the stock a “hold” rating in a report on Monday, May 13th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $19.33.

Get Our Latest Analysis on MODG

Topgolf Callaway Brands Stock Down 1.3 %

Shares of MODG stock opened at $14.63 on Tuesday. Topgolf Callaway Brands Corp. has a 12 month low of $9.84 and a 12 month high of $20.75. The firm has a market cap of $2.69 billion, a PE ratio of 39.54, a price-to-earnings-growth ratio of 2.45 and a beta of 1.77. The stock has a 50 day moving average of $15.33 and a 200-day moving average of $14.90. The company has a quick ratio of 1.02, a current ratio of 1.82 and a debt-to-equity ratio of 0.39.

Topgolf Callaway Brands (NYSE:MODGGet Free Report) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.08. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.16 billion. Topgolf Callaway Brands had a return on equity of 1.93% and a net margin of 1.80%. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.17 earnings per share. On average, equities analysts predict that Topgolf Callaway Brands Corp. will post 0.34 EPS for the current 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.

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

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