AlphaQuest LLC Increases Stock Position in Topgolf Callaway Brands Corp. $MODG

AlphaQuest LLC grew its stake in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) by 353.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 96,433 shares of the company’s stock after buying an additional 75,187 shares during the period. AlphaQuest LLC owned 0.05% of Topgolf Callaway Brands worth $776,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Signaturefd LLC grew its stake in shares of Topgolf Callaway Brands by 1,669.0% during the 2nd quarter. Signaturefd LLC now owns 3,078 shares of the company’s stock valued at $25,000 after buying an additional 2,904 shares during the period. GAMMA Investing LLC purchased a new stake in shares of Topgolf Callaway Brands during the 2nd quarter valued at $36,000. CWM LLC grew its stake in shares of Topgolf Callaway Brands by 124.0% during the 2nd quarter. CWM LLC now owns 4,679 shares of the company’s stock valued at $38,000 after buying an additional 2,590 shares during the period. Public Employees Retirement System of Ohio grew its stake in shares of 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 valued at $51,000 after buying an additional 1,240 shares during the period. Finally, FNY Investment Advisers LLC purchased a new stake in shares of Topgolf Callaway Brands during the 2nd quarter valued at $53,000. 84.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MODG has been the topic of several recent research reports. Weiss Ratings restated a “sell (d)” rating on shares of Topgolf Callaway Brands in a report on Saturday. Cfra restated a “hold” rating and set a $9.00 target price on shares of Topgolf Callaway Brands in a report on Friday, July 11th. Morgan Stanley initiated coverage on shares of Topgolf Callaway Brands in a report on Friday, July 18th. They set an “equal weight” rating and a $9.50 target price on the stock. Wall Street Zen upgraded shares of Topgolf Callaway Brands from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Finally, UBS Group initiated coverage on shares of Topgolf Callaway Brands in a report on Friday, October 17th. They set a “neutral” rating and a $10.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $9.78.

Topgolf Callaway Brands Stock Performance

Shares of MODG stock opened at $10.10 on Monday. Topgolf Callaway Brands Corp. has a 12 month low of $5.42 and a 12 month high of $10.74. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.85 and a quick ratio of 1.25. The firm has a market capitalization of $1.86 billion, a P/E ratio of -1.24 and a beta of 1.24. The company’s fifty day moving average price is $9.44 and its two-hundred day moving average price is $8.35.

Topgolf Callaway Brands (NYSE:MODG) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.21. Topgolf Callaway Brands had a negative net margin of 36.08% and a positive return on equity of 0.37%. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the previous year, the business posted $0.42 EPS. The firm’s revenue was down 4.1% compared to the same quarter last year. On average, research analysts anticipate that Topgolf Callaway Brands Corp. will post 0.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Topgolf Callaway Brands news, CEO Artie Starrs sold 106,734 shares of the business’s 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 transaction, the chief executive officer owned 105,823 shares in the company, valued at $914,310.72. The trade was a 50.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Erik J. Anderson sold 25,704 shares of the business’s 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 completion of the transaction, the director owned 20,607 shares in the company, valued at $190,614.75. This represents a 55.50% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.49% 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.