Nisa Investment Advisors LLC Grows Position in Topgolf Callaway Brands Corp. $MODG

Nisa Investment Advisors LLC boosted its stake in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) by 148.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,563 shares of the company’s stock after purchasing an additional 6,310 shares during the period. Nisa Investment Advisors LLC’s holdings in Topgolf Callaway Brands were worth $85,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of MODG. Teacher Retirement System of Texas purchased a new position in Topgolf Callaway Brands during the first quarter valued at $133,000. Principal Financial Group Inc. lifted its position in Topgolf Callaway Brands by 2.7% during the first quarter. Principal Financial Group Inc. now owns 704,970 shares of the company’s stock valued at $4,646,000 after purchasing an additional 18,490 shares in the last quarter. Cerity Partners LLC lifted its position in Topgolf Callaway Brands by 48.5% during the first quarter. Cerity Partners LLC now owns 16,177 shares of the company’s stock valued at $107,000 after purchasing an additional 5,286 shares in the last quarter. Schwarz Dygos Wheeler Investment Advisors LLC purchased a new position in shares of Topgolf Callaway Brands in the first quarter valued at about $73,000. Finally, Private Advisor Group LLC purchased a new position in shares of Topgolf Callaway Brands in the first quarter valued at about $685,000. 84.69% of the stock is currently owned by hedge funds and other institutional investors.

Topgolf Callaway Brands Price Performance

NYSE:MODG opened at $8.83 on Wednesday. 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 company has a market capitalization of $1.62 billion, a P/E ratio of -1.09 and a beta of 1.19. Topgolf Callaway Brands Corp. has a 12 month low of $5.42 and a 12 month high of $10.74. The business’s 50-day moving average is $9.40 and its 200 day moving average is $8.52.

Topgolf Callaway Brands (NYSE:MODG) last posted its earnings results 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 the consensus estimate 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 revenue for the quarter was down 4.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.42 earnings per share. On average, equities research analysts forecast that Topgolf Callaway Brands Corp. will post 0.16 earnings per share for the current fiscal year.

Insider Transactions at Topgolf Callaway Brands

In related news, CEO Artie Starrs sold 106,734 shares of the business’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $8.64, for a total value of $922,181.76. Following the sale, the chief executive officer directly owned 105,823 shares in the company, valued at approximately $914,310.72. The trade was a 50.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Erik J. Anderson sold 25,704 shares of the business’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $9.25, for a total value of $237,762.00. Following the completion of the sale, the director owned 20,607 shares in the company, valued at $190,614.75. This represents a 55.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.49% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

MODG has been the topic of several research analyst reports. Zacks Research upgraded Topgolf Callaway Brands from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. Weiss Ratings restated a “sell (d)” rating on shares of Topgolf Callaway Brands in a research report on Wednesday, October 8th. Cfra restated a “hold” rating and issued a $9.00 price objective on shares of Topgolf Callaway Brands in a research report on Friday, July 11th. Wall Street Zen upgraded Topgolf Callaway Brands from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Finally, Truist Financial boosted their price objective on Topgolf Callaway Brands from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $10.33.

About Topgolf Callaway Brands

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.