Redmont Wealth Advisors LLC Buys 3,751 Shares of Topgolf Callaway Brands Corp. (NYSE:MODG)

Redmont Wealth Advisors LLC raised its position in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) by 8.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 48,959 shares of the company’s stock after buying an additional 3,751 shares during the quarter. Topgolf Callaway Brands comprises about 1.1% of Redmont Wealth Advisors LLC’s investment portfolio, making the stock its 27th largest holding. Redmont Wealth Advisors LLC’s holdings in Topgolf Callaway Brands were worth $792,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC acquired a new position in Topgolf Callaway Brands in the 4th quarter worth approximately $44,000. JFS Wealth Advisors LLC raised its position in Topgolf Callaway Brands by 6,063.5% during the fourth quarter. JFS Wealth Advisors LLC now owns 4,561 shares of the company’s stock worth $65,000 after acquiring an additional 4,487 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Topgolf Callaway Brands by 151.5% during 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 in the last quarter. Caas Capital Management LP acquired a new stake in shares of Topgolf Callaway Brands in the fourth quarter valued at about $148,000. Finally, Oak Thistle LLC purchased a new stake in shares of Topgolf Callaway Brands during the fourth quarter worth about $150,000. Hedge funds and other institutional investors own 84.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. B. Riley raised their price target on shares of Topgolf Callaway Brands from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Truist Financial lifted their price target on Topgolf Callaway Brands from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Tigress Financial reissued a “buy” rating and issued a $38.00 price objective on shares of Topgolf Callaway Brands in a research note on Friday, April 12th. Finally, TD Cowen lifted their target price on shares of Topgolf Callaway Brands from $10.00 to $13.00 and gave the stock a “hold” rating in a research note on Monday, May 13th. 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 stock. According to data from MarketBeat.com, Topgolf Callaway Brands currently has a consensus rating of “Hold” and an average target price of $19.33.

Insiders Place Their Bets

In other news, Director Erik J. Anderson sold 7,500 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at approximately $11,688,254.83. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Topgolf Callaway Brands news, Director Erik J. Anderson sold 10,000 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were 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 approximately $11,665,297.21. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Erik J. Anderson sold 7,500 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $15.37, for a total transaction of $115,275.00. Following the completion of the transaction, the director now owns 760,459 shares of the company’s stock, valued at approximately $11,688,254.83. The disclosure for this sale can be found here. 2.49% of the stock is owned by insiders.

Topgolf Callaway Brands Trading Up 0.7 %

Shares of MODG stock traded up $0.10 on Wednesday, hitting $15.00. 568,182 shares of the stock traded hands, compared to its average volume of 2,263,070. 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 twelve month low of $9.84 and a twelve month high of $20.75. The firm’s 50-day moving average price is $15.42 and its two-hundred day moving average price is $14.88. The stock has a market capitalization of $2.75 billion, a PE ratio of 40.54, a PEG ratio of 2.53 and a beta of 1.77.

Topgolf Callaway Brands (NYSE:MODG) last posted its earnings results on Wednesday, May 8th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.08. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.16 billion. Topgolf Callaway Brands had a net margin of 1.80% and a return on equity of 1.93%. Topgolf Callaway Brands’s revenue was down 2.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.17 EPS. As a group, analysts anticipate that Topgolf Callaway Brands Corp. will post 0.34 EPS for the current year.

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.