Redmont Wealth Advisors LLC Increases Stock Holdings in Topgolf Callaway Brands Corp. (NYSE:MODG)

Redmont Wealth Advisors LLC lifted its stake in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) by 59.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 45,208 shares of the company’s stock after buying an additional 16,828 shares during the quarter. Redmont Wealth Advisors LLC’s holdings in Topgolf Callaway Brands were worth $648,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of MODG. North Star Investment Management Corp. boosted its holdings in shares of Topgolf Callaway Brands by 57,166.7% in the fourth quarter. North Star Investment Management Corp. now owns 120,260 shares of the company’s stock valued at $1,725,000 after acquiring an additional 120,050 shares during the period. Vanguard Group Inc. increased its stake in Topgolf Callaway Brands by 0.9% in the third quarter. Vanguard Group Inc. now owns 13,557,515 shares of the company’s stock valued at $187,636,000 after purchasing an additional 116,267 shares during the period. State of Alaska Department of Revenue raised its holdings in shares of Topgolf Callaway Brands by 422.9% in the fourth quarter. State of Alaska Department of Revenue now owns 87,406 shares of the company’s stock valued at $1,253,000 after buying an additional 70,689 shares during the last quarter. Thompson Investment Management Inc. boosted its stake in shares of Topgolf Callaway Brands by 40.9% during the fourth quarter. Thompson Investment Management Inc. now owns 355,344 shares of the company’s stock worth $5,096,000 after buying an additional 103,134 shares during the period. Finally, Qube Research & Technologies Ltd purchased a new position in Topgolf Callaway Brands in the 3rd quarter valued at $3,376,000. Institutional investors and hedge funds own 84.69% of the company’s stock.

Topgolf Callaway Brands Stock Performance

Shares of MODG traded up $0.10 during trading hours on Friday, reaching $15.51. 704,324 shares of the company traded hands, compared to its average volume of 2,588,142. The stock’s fifty day moving average is $15.00 and its 200 day moving average is $13.80. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.88 and a current ratio of 1.72. The stock has a market cap of $2.85 billion, a P/E ratio of 33.50, a price-to-earnings-growth ratio of 1.67 and a beta of 1.87. Topgolf Callaway Brands Corp. has a 1-year low of $9.84 and a 1-year high of $23.01.

Topgolf Callaway Brands (NYSE:MODG) last announced its earnings results on Tuesday, February 13th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.04. Topgolf Callaway Brands had a net margin of 2.22% and a return on equity of 2.39%. The business had revenue of $897.10 million during the quarter, compared to analysts’ expectations of $867.25 million. During the same quarter last year, the company posted ($0.27) EPS. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. Equities research analysts anticipate that Topgolf Callaway Brands Corp. will post 0.29 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MODG has been the subject of several research analyst reports. KeyCorp cut their price objective on Topgolf Callaway Brands from $20.00 to $18.00 and set an “overweight” rating for the company in a research report on Wednesday, February 14th. Raymond James raised their price target on Topgolf Callaway Brands from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Thursday, January 4th. Finally, Tigress Financial restated a “buy” rating and set a $38.00 price objective on shares of Topgolf Callaway Brands in a report on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Topgolf Callaway Brands has a consensus rating of “Moderate Buy” and a consensus target price of $20.64.

Insiders Place Their Bets

In other news, Director Erik J. Anderson sold 2,028 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $14.79, for a total value of $29,994.12. Following the completion of the transaction, the director now owns 2,242 shares in the company, valued at approximately $33,159.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Erik J. Anderson sold 2,028 shares of Topgolf Callaway Brands 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 approximately $33,159.18. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Erik J. Anderson sold 5,000 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $14.55, for a total value of $72,750.00. Following the sale, the director now directly owns 777,959 shares in the company, valued at $11,319,303.45. The disclosure for this sale can be found here. Corporate insiders own 11.97% of the company’s stock.

About Topgolf Callaway Brands

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.