International Assets Investment Management LLC Raises Stock Holdings in Topgolf Callaway Brands Corp. (NYSE:MODG)

International Assets Investment Management LLC raised its position in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) by 1,251.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,216 shares of the company’s stock after purchasing an additional 21,498 shares during the quarter. International Assets Investment Management LLC’s holdings in Topgolf Callaway Brands were worth $333,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Wolff Wiese Magana LLC increased its holdings in Topgolf Callaway Brands by 87.8% in the 3rd quarter. Wolff Wiese Magana LLC now owns 3,317 shares of the company’s stock worth $46,000 after buying an additional 1,551 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Topgolf Callaway Brands by 151.5% in the third quarter. PNC Financial Services Group Inc. now owns 7,241 shares of the company’s stock valued at $100,000 after purchasing an additional 4,362 shares during the last quarter. Ranch Capital Advisors Inc. purchased a new position in shares of Topgolf Callaway Brands during the 3rd quarter valued at about $140,000. Park Avenue Securities LLC acquired a new position in shares of Topgolf Callaway Brands in the 3rd quarter valued at about $150,000. Finally, Wealthfront Advisers LLC purchased a new stake in shares of Topgolf Callaway Brands in the third quarter worth about $150,000. 84.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Topgolf Callaway Brands news, Director Erik J. Anderson sold 5,000 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $14.55, for a total value of $72,750.00. Following the transaction, the director now owns 777,959 shares in the company, valued at approximately $11,319,303.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Erik J. Anderson sold 2,028 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $14.79, for a total value of $29,994.12. Following the completion of the sale, the director now directly owns 2,242 shares in the company, valued at $33,159.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Erik J. Anderson sold 5,000 shares of Topgolf Callaway Brands stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $14.55, for a total value of $72,750.00. Following the transaction, the director now owns 777,959 shares in the company, valued at approximately $11,319,303.45. The disclosure for this sale can be found here. 11.97% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Tigress Financial reiterated a “buy” rating and set a $38.00 price target on shares of Topgolf Callaway Brands in a research report on Friday, April 12th. KeyCorp decreased their target price on shares of Topgolf Callaway Brands from $20.00 to $18.00 and set an “overweight” rating for the company in a research note on Wednesday, February 14th. Finally, Raymond James raised their price target on shares of Topgolf Callaway Brands from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $20.64.

Topgolf Callaway Brands Stock Performance

MODG opened at $15.85 on Friday. The firm’s fifty day simple moving average is $15.18 and its two-hundred day simple moving average is $13.90. Topgolf Callaway Brands Corp. has a 52-week low of $9.84 and a 52-week high of $22.79. The company has a market cap of $2.91 billion, a price-to-earnings ratio of 34.46, a PEG ratio of 1.72 and a beta of 1.87. The company has a quick ratio of 0.88, a current ratio of 1.72 and a debt-to-equity ratio of 0.39.

Topgolf Callaway Brands (NYSE:MODG) last issued its quarterly earnings results on Tuesday, February 13th. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.04. Topgolf Callaway Brands had a net margin of 2.22% and a return on equity of 2.39%. The firm had revenue of $897.10 million for the quarter, compared to analyst estimates of $867.25 million. During the same period last year, the company posted ($0.27) EPS. Topgolf Callaway Brands’s quarterly revenue was up 5.4% compared to the same quarter last year. Equities analysts anticipate that Topgolf Callaway Brands Corp. will post 0.29 earnings per share for the current fiscal year.

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.