36,735 Shares in Topgolf Callaway Brands Corp. (NYSE:MODG) Bought by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC purchased a new position in Topgolf Callaway Brands Corp. (NYSE:MODG) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 36,735 shares of the company’s stock, valued at approximately $289,000.

A number of other institutional investors and hedge funds have also bought and sold shares of MODG. Principal Financial Group Inc. raised its position in Topgolf Callaway Brands by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 686,480 shares of the company’s stock valued at $5,396,000 after purchasing an additional 19,257 shares in the last quarter. New World Advisors LLC raised its position in shares of Topgolf Callaway Brands by 30.1% in the 4th quarter. New World Advisors LLC now owns 28,125 shares of the company’s stock worth $221,000 after acquiring an additional 6,500 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Topgolf Callaway Brands by 14.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,286,719 shares of the company’s stock worth $17,974,000 after buying an additional 291,052 shares during the last quarter. Victory Capital Management Inc. grew its stake in Topgolf Callaway Brands by 31.1% during the 4th quarter. Victory Capital Management Inc. now owns 158,327 shares of the company’s stock worth $1,244,000 after buying an additional 37,600 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Topgolf Callaway Brands during the 4th quarter worth $380,000. 84.69% of the stock is owned by institutional investors.

Topgolf Callaway Brands Price Performance

MODG stock opened at $7.72 on Monday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 1.14. The business has a 50 day simple moving average of $6.64 and a 200-day simple moving average of $7.16. The firm has a market capitalization of $1.42 billion, a PE ratio of -96.43 and a beta of 1.21. Topgolf Callaway Brands Corp. has a 1 year low of $5.42 and a 1 year high of $16.89.

Topgolf Callaway Brands (NYSE:MODG) last posted its earnings results on Monday, May 12th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.15. The company had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Topgolf Callaway Brands had a positive return on equity of 1.20% and a negative net margin of 0.29%. The firm’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.08 earnings per share. Equities research analysts anticipate that Topgolf Callaway Brands Corp. will post 0.16 earnings per share for the current fiscal year.

Insider Transactions at Topgolf Callaway Brands

In other Topgolf Callaway Brands news, CEO Oliver G. Brewer III purchased 20,000 shares of the business’s stock in a transaction on Wednesday, May 14th. The shares were bought at an average cost of $6.40 per share, for a total transaction of $128,000.00. Following the completion of the purchase, the chief executive officer now directly owns 1,009,297 shares in the company, valued at approximately $6,459,500.80. This represents a 2.02% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Adebayo O. Ogunlesi bought 38,782 shares of the business’s stock in a transaction dated Tuesday, June 10th. The shares were purchased at an average price of $7.59 per share, for a total transaction of $294,355.38. Following the transaction, the director now directly owns 845,284 shares of the company’s stock, valued at approximately $6,415,705.56. This represents a 4.81% increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 905,284 shares of company stock worth $5,922,500 over the last ninety days. Company insiders own 2.40% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on MODG shares. Truist Financial dropped their price target on Topgolf Callaway Brands from $12.00 to $7.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. JPMorgan Chase & Co. lowered their target price on Topgolf Callaway Brands from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 27th. Roth Mkm restated a “buy” rating and issued a $11.00 target price (down previously from $16.00) on shares of Topgolf Callaway Brands in a research note on Tuesday, February 25th. B. Riley started coverage on Topgolf Callaway Brands in a research note on Friday, May 16th. They issued a “neutral” rating and a $7.00 target price on the stock. Finally, Wall Street Zen cut Topgolf Callaway Brands from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $10.30.

Topgolf Callaway Brands 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.