Public Employees Retirement System of Ohio Has $51,000 Stock Position in Topgolf Callaway Brands Corp. $MODG

Public Employees Retirement System of Ohio lifted its stake in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) by 24.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,275 shares of the company’s stock after purchasing an additional 1,240 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Topgolf Callaway Brands were worth $51,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC acquired a new stake in shares of Topgolf Callaway Brands during the 2nd quarter worth $36,000. Dynamic Advisor Solutions LLC acquired a new stake in shares of Topgolf Callaway Brands during the 1st quarter worth $66,000. Capstone Financial Advisors Inc. acquired a new stake in shares of Topgolf Callaway Brands during the 1st quarter worth $66,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Topgolf Callaway Brands by 52.0% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 10,636 shares of the company’s stock worth $70,000 after purchasing an additional 3,640 shares in the last quarter. Finally, Schwarz Dygos Wheeler Investment Advisors LLC acquired a new stake in shares of Topgolf Callaway Brands during the 1st quarter worth $73,000. 84.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently issued reports on MODG shares. Wall Street Zen raised Topgolf Callaway Brands from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Topgolf Callaway Brands in a research note on Saturday, September 27th. Cfra reaffirmed a “hold” rating and issued a $9.00 price objective on shares of Topgolf Callaway Brands in a research note on Friday, July 11th. Morgan Stanley assumed coverage on Topgolf Callaway Brands in a research note on Friday, July 18th. They issued an “equal weight” rating and a $9.50 price objective on the stock. Finally, B. Riley reaffirmed a “neutral” rating and issued a $9.50 price objective (up from $7.00) on shares of Topgolf Callaway Brands in a research note on Monday, August 11th. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $9.75.

Topgolf Callaway Brands Stock Performance

Shares of MODG stock opened at $9.14 on Wednesday. Topgolf Callaway Brands Corp. has a 12 month low of $5.42 and a 12 month high of $11.09. 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 has a market capitalization of $1.68 billion, a price-to-earnings ratio of -1.12 and a beta of 1.24. The business’s 50-day moving average price is $9.36 and its 200-day moving average price is $8.06.

Topgolf Callaway Brands (NYSE:MODG) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.21. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.08 billion. Topgolf Callaway Brands had a positive return on equity of 0.37% and a negative net margin of 36.08%.The firm’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.42 earnings per share. Equities research analysts forecast that Topgolf Callaway Brands Corp. will post 0.16 EPS for the current year.

Insider Buying and Selling

In related news, Director Erik J. Anderson sold 25,704 shares of Topgolf Callaway Brands stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $9.25, for a total value of $237,762.00. Following the transaction, the director directly owned 20,607 shares of the company’s stock, valued at $190,614.75. The trade was a 55.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Artie Starrs sold 106,734 shares of Topgolf Callaway Brands stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $8.64, for a total value of $922,181.76. Following the completion of the transaction, the chief executive officer directly owned 105,823 shares in the company, valued at approximately $914,310.72. This represents a 50.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.49% of the stock is 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.