Universal Beteiligungs und Servicegesellschaft mbH Takes $265,000 Position in Topgolf Callaway Brands Corp. (NYSE:MODG)

Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Topgolf Callaway Brands Corp. (NYSE:MODG) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 40,195 shares of the company’s stock, valued at approximately $265,000.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Topgolf Callaway Brands by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 15,860,996 shares of the company’s stock valued at $124,667,000 after buying an additional 224,578 shares in the last quarter. Shapiro Capital Management LLC boosted its holdings in shares of Topgolf Callaway Brands by 3.6% in the fourth quarter. Shapiro Capital Management LLC now owns 10,520,632 shares of the company’s stock valued at $82,692,000 after acquiring an additional 366,192 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of Topgolf Callaway Brands by 97.6% during the fourth quarter. Alliancebernstein L.P. now owns 2,152,565 shares of the company’s stock valued at $16,919,000 after acquiring an additional 1,063,033 shares during the period. Ameriprise Financial Inc. raised its holdings in Topgolf Callaway Brands by 57.8% during the fourth quarter. Ameriprise Financial Inc. now owns 2,086,700 shares of the company’s stock worth $16,401,000 after purchasing an additional 764,322 shares in the last quarter. Finally, Long Focus Capital Management LLC lifted its position in Topgolf Callaway Brands by 10.6% in the fourth quarter. Long Focus Capital Management LLC now owns 2,038,000 shares of the company’s stock worth $16,019,000 after purchasing an additional 195,000 shares during the period. Institutional investors and hedge funds own 84.69% of the company’s stock.

Topgolf Callaway Brands Stock Performance

Shares of Topgolf Callaway Brands stock opened at $8.58 on Tuesday. The stock has a market cap of $1.58 billion, a PE ratio of -1.08 and a beta of 1.26. Topgolf Callaway Brands Corp. has a 12 month low of $5.42 and a 12 month high of $14.51. The company has a quick ratio of 1.41, a current ratio of 2.12 and a debt-to-equity ratio of 0.60. The business has a fifty day simple moving average of $8.29 and a 200-day simple moving average of $7.34.

Topgolf Callaway Brands (NYSE:MODG) last released its quarterly earnings data on Monday, May 12th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.15. Topgolf Callaway Brands had a negative net margin of 34.68% and a positive return on equity of 1.51%. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the prior year, the business earned $0.08 EPS. The company’s revenue for the quarter was down 4.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Topgolf Callaway Brands Corp. will post 0.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Wall Street Zen cut Topgolf Callaway Brands from a “hold” rating to a “sell” rating in a research report on Sunday, July 6th. Morgan Stanley began coverage on Topgolf Callaway Brands in a report on Friday, July 18th. They set an “equal weight” rating and a $9.50 target price on the stock. JPMorgan Chase & Co. dropped their price target on shares of Topgolf Callaway Brands from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 27th. Truist Financial reduced their price objective on shares of Topgolf Callaway Brands from $12.00 to $7.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Finally, B. Riley assumed coverage on shares of Topgolf Callaway Brands in a report on Friday, May 16th. They issued a “neutral” rating and a $7.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $10.14.

Insider Transactions at Topgolf Callaway Brands

In other news, EVP Glenn F. Hickey acquired 10,000 shares of Topgolf Callaway Brands stock in a transaction that occurred on Monday, May 19th. The stock was purchased at an average price of $6.86 per share, with a total value of $68,600.00. Following the completion of the transaction, the executive vice president owned 10,000 shares in the company, valued at approximately $68,600. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Oliver G. Brewer III purchased 20,000 shares of Topgolf Callaway Brands stock in a transaction dated Wednesday, May 14th. The shares were purchased at an average price of $6.40 per share, with a total value of $128,000.00. Following the completion of the acquisition, the chief executive officer owned 1,009,297 shares in the company, valued at $6,459,500.80. The trade was a 2.02% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 905,284 shares of company stock valued at $5,922,500 in the last three months. 2.49% of the stock is currently owned by insiders.

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.