O Keefe Stevens Advisory Inc. Takes Position in Topgolf Callaway Brands Corp. $MODG

O Keefe Stevens Advisory Inc. acquired a new stake in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) during the second quarter, HoldingsChannel.com reports. The institutional investor acquired 13,202 shares of the company’s stock, valued at approximately $106,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Signaturefd LLC increased its stake in Topgolf Callaway Brands by 1,669.0% in the 2nd quarter. Signaturefd LLC now owns 3,078 shares of the company’s stock worth $25,000 after acquiring an additional 2,904 shares during the last quarter. GAMMA Investing LLC bought a new position in Topgolf Callaway Brands during the 2nd quarter worth approximately $36,000. Public Employees Retirement System of Ohio grew its position in Topgolf Callaway Brands by 24.6% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 6,275 shares of the company’s stock worth $51,000 after acquiring an additional 1,240 shares during the last quarter. Dynamic Advisor Solutions LLC purchased a new stake in Topgolf Callaway Brands in the 1st quarter worth approximately $66,000. Finally, Capstone Financial Advisors Inc. purchased a new stake in Topgolf Callaway Brands in the 1st quarter worth approximately $66,000. 84.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Wall Street Zen upgraded Topgolf Callaway Brands from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Cfra restated a “hold” rating and issued a $9.00 price target on shares of Topgolf Callaway Brands in a research note on Friday, July 11th. Morgan Stanley started coverage on Topgolf Callaway Brands in a research note on Friday, July 18th. They issued an “equal weight” rating and a $9.50 price target for the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Topgolf Callaway Brands in a report on Saturday, September 27th. Finally, B. Riley reaffirmed a “neutral” rating and issued a $9.50 price objective (up previously from $7.00) on shares of Topgolf Callaway Brands in a report on Monday, August 11th. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $9.75.

Insider Buying and Selling at Topgolf Callaway Brands

In other Topgolf Callaway Brands news, Director Erik J. Anderson sold 25,704 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $9.25, for a total transaction of $237,762.00. Following the sale, the director owned 20,607 shares of the company’s stock, valued at approximately $190,614.75. This trade represents a 55.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Artie Starrs sold 106,734 shares of the stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $8.64, for a total value of $922,181.76. Following the sale, the chief executive officer directly owned 105,823 shares in the company, valued at $914,310.72. This trade represents a 50.21% decrease in their position. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by company insiders.

Topgolf Callaway Brands Trading Up 2.5%

MODG opened at $9.94 on Friday. The stock has a market cap of $1.83 billion, a price-to-earnings ratio of -1.22 and a beta of 1.24. The stock’s 50 day moving average price is $9.38 and its 200-day moving average price is $8.03. Topgolf Callaway Brands Corp. has a one year low of $5.42 and a one year high of $11.09. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.25 and a current ratio of 1.85.

Topgolf Callaway Brands (NYSE:MODG) last released its earnings results on Wednesday, August 6th. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.21. Topgolf Callaway Brands had a positive return on equity of 0.37% and a negative net margin of 36.08%.The firm had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the prior year, the firm posted $0.42 earnings per share. The company’s quarterly revenue was down 4.1% on a year-over-year basis. On average, equities analysts forecast that Topgolf Callaway Brands Corp. will post 0.16 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.