Topgolf Callaway Brands Corp. (NYSE:MODG) Shares Sold by Kennedy Capital Management LLC

Kennedy Capital Management LLC lowered its position in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) by 44.5% in the first quarter, HoldingsChannel.com reports. The fund owned 315,552 shares of the company’s stock after selling 253,329 shares during the quarter. Kennedy Capital Management LLC’s holdings in Topgolf Callaway Brands were worth $5,102,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC acquired a new position in shares of Topgolf Callaway Brands in the 4th quarter valued at about $44,000. JFS Wealth Advisors LLC lifted its holdings in shares of Topgolf Callaway Brands by 6,063.5% in the 4th quarter. JFS Wealth Advisors LLC now owns 4,561 shares of the company’s stock valued at $65,000 after buying an additional 4,487 shares during the period. Caas Capital Management LP acquired a new position in shares of Topgolf Callaway Brands in the 4th quarter valued at about $148,000. Oak Thistle LLC acquired a new position in shares of Topgolf Callaway Brands in the 4th quarter valued at about $150,000. Finally, Benjamin Edwards Inc. raised its holdings in Topgolf Callaway Brands by 16.5% in the 4th quarter. Benjamin Edwards Inc. now owns 10,983 shares of the company’s stock worth $157,000 after purchasing an additional 1,555 shares during the period. Institutional investors and hedge funds own 84.69% of the company’s stock.

Insider Activity 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 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 sale, the director now owns 760,459 shares of the company’s stock, valued at $11,688,254.83. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Erik J. Anderson sold 10,000 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $15.19, for a total transaction of $151,900.00. Following the completion of the transaction, 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 available at this link. Also, Director Erik J. Anderson sold 7,500 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $15.37, for a total value of $115,275.00. Following the transaction, the director now owns 760,459 shares of the company’s stock, valued at $11,688,254.83. The disclosure for this sale can be found here. Insiders own 2.49% of the company’s stock.

Analyst Upgrades and Downgrades

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

Topgolf Callaway Brands Price Performance

Shares of NYSE:MODG traded up $0.14 during midday trading on Tuesday, hitting $16.43. The company had a trading volume of 1,809,563 shares, compared to its average volume of 2,209,638. Topgolf Callaway Brands Corp. has a twelve month low of $9.84 and a twelve month high of $19.99. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.82 and a quick ratio of 1.02. The stock has a market cap of $3.02 billion, a price-to-earnings ratio of 44.35, a price-to-earnings-growth ratio of 2.63 and a beta of 1.77. The business’s 50-day simple moving average is $15.20 and its 200-day simple moving average is $15.01.

Topgolf Callaway Brands (NYSE:MODG) last posted its quarterly 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 return on equity of 1.93% and a net margin of 1.80%. The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter last year, the firm earned $0.17 earnings per share. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, research analysts predict that Topgolf Callaway Brands Corp. will post 0.34 earnings per share for the current year.

Topgolf Callaway Brands Company 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.