NBC Securities Inc. Buys 8,864 Shares of Topgolf Callaway Brands Corp. (NYSE:MODG)

NBC Securities Inc. lifted its stake in shares of Topgolf Callaway Brands Corp. (NYSE:MODGFree Report) by 16.8% in the 1st quarter, Holdings Channel reports. The fund owned 61,522 shares of the company’s stock after acquiring an additional 8,864 shares during the quarter. NBC Securities Inc.’s holdings in Topgolf Callaway Brands were worth $994,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. GAMMA Investing LLC acquired a new position in Topgolf Callaway Brands during the fourth quarter worth $44,000. JFS Wealth Advisors LLC lifted its stake in Topgolf Callaway Brands by 6,063.5% in the fourth quarter. JFS Wealth Advisors LLC now owns 4,561 shares of the company’s stock valued at $65,000 after acquiring an additional 4,487 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake 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 acquiring an additional 4,362 shares during the last quarter. Ranch Capital Advisors Inc. acquired a new stake in Topgolf Callaway Brands in the third quarter valued at $140,000. Finally, Caas Capital Management LP acquired a new stake in Topgolf Callaway Brands in the fourth quarter valued at $148,000. Institutional investors own 84.69% of the company’s stock.

Analysts Set New Price Targets

MODG has been the subject of a number of recent analyst reports. Truist Financial increased their price target on shares of Topgolf Callaway Brands from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, April 29th. TD Cowen increased their price target on shares of Topgolf Callaway Brands from $10.00 to $13.00 and gave the company a “hold” rating in a research note on Monday, May 13th. Tigress Financial reiterated a “buy” rating and issued a $38.00 price target on shares of Topgolf Callaway Brands in a research note on Friday, April 12th. Finally, B. Riley increased their price objective on shares of Topgolf Callaway Brands from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $19.33.

Check Out Our Latest Stock Analysis on Topgolf Callaway Brands

Topgolf Callaway Brands Stock Performance

NYSE:MODG traded down $0.08 during mid-day trading on Wednesday, reaching $15.00. 1,332,223 shares of the company’s stock were exchanged, compared to its average volume of 1,663,776. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.02 and a current ratio of 1.82. Topgolf Callaway Brands Corp. has a one year low of $9.84 and a one year high of $20.75. The firm has a market capitalization of $2.75 billion, a PE ratio of 40.54, a price-to-earnings-growth ratio of 2.50 and a beta of 1.80. The business’s fifty day simple moving average is $15.58 and its two-hundred day simple moving average is $14.72.

Topgolf Callaway Brands (NYSE:MODGGet Free Report) last released its earnings results on Wednesday, May 8th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.01 by $0.08. Topgolf Callaway Brands had a net margin of 1.80% and a return on equity of 1.93%. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period last year, the firm earned $0.17 EPS. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. Analysts anticipate that Topgolf Callaway Brands Corp. will post 0.34 earnings per share for the current fiscal year.

Insider Buying and Selling at Topgolf Callaway Brands

In other Topgolf Callaway Brands news, Director Erik J. Anderson sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $15.37, for a total value of $115,275.00. Following the transaction, the director now directly owns 760,459 shares of the company’s stock, valued at approximately $11,688,254.83. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Erik J. Anderson sold 10,000 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $15.19, for a total transaction of $151,900.00. Following the sale, the director now directly owns 767,959 shares in the company, valued at $11,665,297.21. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Erik J. Anderson sold 7,500 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $15.37, for a total value of $115,275.00. Following the sale, the director now owns 760,459 shares in the company, valued at $11,688,254.83. The disclosure for this sale can be found here. Insiders own 2.49% of the company’s stock.

Topgolf Callaway Brands Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Topgolf Callaway Brands (NYSE:MODG)

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