Profit Investment Management LLC Buys 48,416 Shares of Topgolf Callaway Brands Corp. (NYSE:MODG)

Profit Investment Management LLC boosted its stake in shares of Topgolf Callaway Brands Corp. (NYSE:MODGFree Report) by 23.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 257,221 shares of the company’s stock after acquiring an additional 48,416 shares during the quarter. Topgolf Callaway Brands accounts for about 2.3% of Profit Investment Management LLC’s investment portfolio, making the stock its 16th largest holding. Profit Investment Management LLC owned approximately 0.14% of Topgolf Callaway Brands worth $4,159,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Shapiro Capital Management LLC boosted its holdings in shares of Topgolf Callaway Brands by 651.6% during the third quarter. Shapiro Capital Management LLC now owns 9,659,158 shares of the company’s stock worth $133,683,000 after purchasing an additional 8,373,946 shares during the period. Vanguard Group Inc. raised its position in Topgolf Callaway Brands by 13.6% during the 4th quarter. Vanguard Group Inc. now owns 15,403,379 shares of the company’s stock valued at $220,884,000 after purchasing an additional 1,845,864 shares during the last quarter. Norges Bank purchased a new stake in Topgolf Callaway Brands in the 4th quarter worth approximately $10,467,000. Assenagon Asset Management S.A. bought a new stake in shares of Topgolf Callaway Brands in the 4th quarter worth approximately $9,412,000. Finally, First Dallas Securities Inc. grew its position in shares of Topgolf Callaway Brands by 1,004.7% in the 3rd quarter. First Dallas Securities Inc. now owns 611,466 shares of the company’s stock worth $8,463,000 after buying an additional 556,116 shares during the last quarter. 84.69% of the stock is currently owned by institutional investors.

Topgolf Callaway Brands Stock Performance

Shares of NYSE MODG traded up $0.23 during trading on Friday, reaching $15.23. 2,937,180 shares of the company traded hands, compared to its average volume of 1,523,852. The company has a quick ratio of 1.02, a current ratio of 1.82 and a debt-to-equity ratio of 0.39. The firm has a 50 day simple moving average of $15.49 and a 200-day simple moving average of $14.75. Topgolf Callaway Brands Corp. has a 52-week low of $9.84 and a 52-week high of $20.75. The stock has a market capitalization of $2.80 billion, a PE ratio of 41.16, a P/E/G ratio of 2.48 and a beta of 1.80.

Topgolf Callaway Brands (NYSE:MODGGet Free Report) last released its quarterly 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 firm had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Topgolf Callaway Brands had a return on equity of 1.93% and a net margin of 1.80%. The company’s revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.17 EPS. Equities research analysts anticipate that Topgolf Callaway Brands Corp. will post 0.34 earnings per share for the current year.

Insiders Place Their Bets

In related 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 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 sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Topgolf Callaway Brands news, Director Erik J. Anderson sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $15.19, for a total value 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 accessible through the SEC website. Also, Director Erik J. Anderson sold 7,500 shares of the 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 directly 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.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Truist Financial lifted their target price 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 upped their target price on Topgolf Callaway Brands from $10.00 to $13.00 and gave the stock a “hold” rating in a report on Monday, May 13th. B. Riley raised their target price on Topgolf Callaway Brands from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Finally, Tigress Financial restated a “buy” rating and set a $38.00 price target on shares of Topgolf Callaway Brands in a research report on Friday, April 12th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $19.33.

Read Our Latest Stock Report on MODG

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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