Swiss National Bank Sells 4,000 Shares of Topgolf Callaway Brands Corp. $MODG

Swiss National Bank lessened its holdings in Topgolf Callaway Brands Corp. (NYSE:MODG) by 1.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 267,100 shares of the company’s stock after selling 4,000 shares during the period. Swiss National Bank owned about 0.15% of Topgolf Callaway Brands worth $1,760,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in MODG. Ameriprise Financial Inc. boosted its holdings in Topgolf Callaway Brands by 57.8% during the 4th quarter. Ameriprise Financial Inc. now owns 2,086,700 shares of the company’s stock worth $16,401,000 after acquiring an additional 764,322 shares during the last quarter. Claar Advisors LLC purchased a new stake in shares of Topgolf Callaway Brands in the fourth quarter valued at about $4,716,000. Shapiro Capital Management LLC lifted its position in shares of Topgolf Callaway Brands by 3.6% during the fourth quarter. Shapiro Capital Management LLC now owns 10,520,632 shares of the company’s stock valued at $82,692,000 after purchasing an additional 366,192 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in Topgolf Callaway Brands during the fourth quarter worth about $2,796,000. Finally, Prentice Capital Management LP bought a new stake in Topgolf Callaway Brands in the 4th quarter worth about $2,510,000. Institutional investors own 84.69% of the company’s stock.

Topgolf Callaway Brands Trading Up 5.0%

NYSE:MODG opened at $9.7540 on Monday. Topgolf Callaway Brands Corp. has a 12 month low of $5.42 and a 12 month high of $11.61. The company has a current ratio of 1.85, a quick ratio of 1.25 and a debt-to-equity ratio of 0.48. The firm’s 50 day moving average is $8.99 and its 200 day moving average is $7.46. The stock has a market capitalization of $1.79 billion, a PE ratio of -1.20 and a beta of 1.26.

Topgolf Callaway Brands (NYSE:MODG) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.21. Topgolf Callaway Brands had a positive return on equity of 0.37% and a negative net margin of 36.08%.The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same period in the prior year, the company earned $0.42 earnings per share. Topgolf Callaway Brands’s revenue was down 4.1% compared to the same quarter last year. Sell-side analysts expect that Topgolf Callaway Brands Corp. will post 0.16 earnings per share for the current year.

Insider Transactions at Topgolf Callaway Brands

In other Topgolf Callaway Brands news, Director Adebayo O. Ogunlesi acquired 384,731 shares of the company’s stock in a transaction on Friday, June 6th. The shares were acquired at an average cost of $6.48 per share, with a total value of $2,493,056.88. Following the completion of the acquisition, the director directly owned 768,432 shares in the company, valued at $4,979,439.36. This trade represents a 100.27% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Artie Starrs sold 106,734 shares of the stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $8.64, for a total transaction of $922,181.76. Following the transaction, the chief executive officer owned 105,823 shares of the company’s stock, valued at $914,310.72. This represents a 50.21% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders bought 845,284 shares of company stock worth $5,533,600. 2.49% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on MODG shares. Wall Street Zen upgraded shares of Topgolf Callaway Brands from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. JPMorgan Chase & Co. reduced their target price on Topgolf Callaway Brands from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Tuesday, May 27th. Morgan Stanley assumed coverage on Topgolf Callaway Brands in a report on Friday, July 18th. They set an “equal weight” rating and a $9.50 price target on the stock. B. Riley reissued a “neutral” rating and issued a $9.50 price objective (up previously from $7.00) on shares of Topgolf Callaway Brands in a research report on Monday, August 11th. Finally, Cfra restated a “hold” rating and issued a $9.00 price objective on shares of Topgolf Callaway Brands in a research note on Friday, July 11th. Three equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $10.00.

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.