Topgolf Callaway Brands Corp. (NYSE:MODG) Position Increased by New World Advisors LLC

New World Advisors LLC increased its stake in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) by 22.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,125 shares of the company’s stock after buying an additional 4,000 shares during the quarter. New World Advisors LLC’s holdings in Topgolf Callaway Brands were worth $317,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC acquired a new position in Topgolf Callaway Brands during the 1st quarter valued at about $76,000. LPL Financial LLC acquired a new position in Topgolf Callaway Brands during the 1st quarter valued at about $842,000. Guggenheim Capital LLC acquired a new position in Topgolf Callaway Brands during the 1st quarter valued at about $332,000. Commonwealth Equity Services LLC acquired a new position in Topgolf Callaway Brands during the 1st quarter valued at about $466,000. Finally, Envestnet Asset Management Inc. acquired a new position in Topgolf Callaway Brands during the 1st quarter valued at about $1,080,000. 84.69% of the stock is currently owned by institutional investors.

Topgolf Callaway Brands Trading Up 0.5 %

Shares of MODG stock traded up $0.09 during trading hours on Thursday, reaching $16.32. 1,053,559 shares of the stock traded hands, compared to its average volume of 2,694,444. Topgolf Callaway Brands Corp. has a 1-year low of $9.84 and a 1-year high of $23.01. The business has a fifty day moving average price of $14.71 and a 200 day moving average price of $13.71. The company has a quick ratio of 0.88, a current ratio of 1.72 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $3.00 billion, a PE ratio of 35.28, a PEG ratio of 1.74 and a beta of 1.87.

Topgolf Callaway Brands (NYSE:MODG) last released its quarterly earnings results on Tuesday, February 13th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.04. The business had revenue of $897.10 million for the quarter, compared to analyst estimates of $867.25 million. Topgolf Callaway Brands had a net margin of 2.22% and a return on equity of 2.39%. The firm’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.27) earnings per share. On average, equities research analysts forecast that Topgolf Callaway Brands Corp. will post 0.28 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MODG. Raymond James boosted their target price on shares of Topgolf Callaway Brands from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Thursday, January 4th. KeyCorp reduced their price target 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Topgolf Callaway Brands currently has a consensus rating of “Hold” and an average price target of $18.90.

Insider Buying and Selling at Topgolf Callaway Brands

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

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.