Mutual of America Capital Management LLC Has $146,000 Stake in Topgolf Callaway Brands Corp. $MODG

Mutual of America Capital Management LLC decreased its holdings in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) by 11.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,176 shares of the company’s stock after selling 2,436 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Topgolf Callaway Brands were worth $146,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Signaturefd LLC grew its holdings in Topgolf Callaway Brands by 1,669.0% during the 2nd quarter. Signaturefd LLC now owns 3,078 shares of the company’s stock worth $25,000 after acquiring an additional 2,904 shares during the period. GAMMA Investing LLC acquired a new stake in shares of Topgolf Callaway Brands during the second quarter worth $36,000. CWM LLC grew its stake in shares of Topgolf Callaway Brands by 124.0% during the second quarter. CWM LLC now owns 4,679 shares of the company’s stock worth $38,000 after purchasing an additional 2,590 shares during the period. Public Employees Retirement System of Ohio grew its stake in shares of Topgolf Callaway Brands by 24.6% during the second quarter. Public Employees Retirement System of Ohio now owns 6,275 shares of the company’s stock worth $51,000 after purchasing an additional 1,240 shares during the period. Finally, Capstone Financial Advisors Inc. acquired a new stake in shares of Topgolf Callaway Brands during the first quarter worth $66,000. Institutional investors and hedge funds own 84.69% of the company’s stock.

Insider Buying and Selling at Topgolf Callaway Brands

In other news, Director Erik J. Anderson sold 25,704 shares of the stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $9.25, for a total transaction of $237,762.00. Following the completion of the transaction, the director directly owned 20,607 shares in the company, valued at $190,614.75. This represents a 55.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 approximately $914,310.72. This represents a 50.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 2.40% of the company’s stock.

Topgolf Callaway Brands Stock Down 3.2%

MODG stock opened at $9.21 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.85 and a quick ratio of 1.25. The stock has a market capitalization of $1.69 billion, a P/E ratio of -1.13 and a beta of 1.24. The business has a 50-day moving average of $9.44 and a 200-day moving average of $8.43. Topgolf Callaway Brands Corp. has a fifty-two week low of $5.42 and a fifty-two week high of $10.74.

Topgolf Callaway Brands (NYSE:MODG) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the prior year, the firm posted $0.42 EPS. The business’s revenue was down 4.1% on a year-over-year basis. On average, sell-side analysts anticipate that Topgolf Callaway Brands Corp. will post 0.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MODG has been the subject of several analyst reports. Cfra restated a “hold” rating and set a $9.00 target price on shares of Topgolf Callaway Brands in a research report on Friday, July 11th. B. Riley restated a “neutral” rating and set a $9.50 price objective (up previously from $7.00) on shares of Topgolf Callaway Brands in a report on Monday, August 11th. Morgan Stanley started coverage on shares of Topgolf Callaway Brands in a report on Friday, July 18th. They set an “equal weight” rating and a $9.50 price objective for the company. UBS Group started coverage on shares of Topgolf Callaway Brands in a report on Friday, October 17th. They issued a “neutral” rating and a $10.00 price target for the company. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Topgolf Callaway Brands in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $9.78.

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.