River Global Investors LLP Invests $656,000 in Topgolf Callaway Brands Corp. (NYSE:MODG)

River Global Investors LLP bought a new position in Topgolf Callaway Brands Corp. (NYSE:MODG) in the 4th quarter, HoldingsChannel.com reports. The fund bought 45,783 shares of the company’s stock, valued at approximately $656,000.

A number of other large investors have also bought and sold shares of MODG. Cambridge Investment Research Advisors Inc. increased its holdings in Topgolf Callaway Brands by 2.7% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 38,792 shares of the company’s stock worth $537,000 after buying an additional 1,010 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in Topgolf Callaway Brands by 6.1% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 98,730 shares of the company’s stock worth $1,366,000 after buying an additional 5,674 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Topgolf Callaway Brands by 11.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,445 shares of the company’s stock worth $421,000 after buying an additional 3,151 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Topgolf Callaway Brands by 8.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 66,266 shares of the company’s stock worth $917,000 after acquiring an additional 5,429 shares in the last quarter. Finally, Advisor Partners II LLC purchased a new position in Topgolf Callaway Brands in the third quarter valued at about $330,000. 84.69% of the stock is owned by hedge funds and other institutional investors.

Topgolf Callaway Brands Stock Performance

NYSE MODG traded up $0.33 during trading hours on Monday, reaching $16.33. 556,946 shares of the company were exchanged, compared to its average volume of 2,439,540. Topgolf Callaway Brands Corp. has a 1 year low of $9.84 and a 1 year high of $22.41. The business’s 50 day simple moving average is $15.34 and its 200-day simple moving average is $14.00. 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 stock has a market capitalization of $3.00 billion, a P/E ratio of 35.52, a P/E/G ratio of 1.67 and a beta of 1.84.

Topgolf Callaway Brands (NYSE:MODG) last released its earnings results on Tuesday, February 13th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.04. Topgolf Callaway Brands had a return on equity of 2.39% and a net margin of 2.22%. The business had revenue of $897.10 million for the quarter, compared to the consensus estimate of $867.25 million. During the same period in the previous year, the company posted ($0.27) earnings per share. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, equities research analysts expect that Topgolf Callaway Brands Corp. will post 0.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MODG. Tigress Financial reiterated a “buy” rating and issued a $38.00 price target on shares of Topgolf Callaway Brands in a report on Friday, April 12th. B. Riley upped their target price on shares of Topgolf Callaway Brands from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday. Truist Financial increased their price target on shares of Topgolf Callaway Brands from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Finally, KeyCorp cut their price target on Topgolf Callaway Brands from $20.00 to $18.00 and set an “overweight” rating for the company in a report on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $19.91.

Insiders Place Their Bets

In other Topgolf Callaway Brands news, Director Erik J. Anderson sold 5,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $11,319,303.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other 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 transaction, the director now owns 777,959 shares of the company’s stock, valued at $11,319,303.45. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Erik J. Anderson sold 2,028 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $14.79, for a total value of $29,994.12. Following the completion of the sale, the director now owns 2,242 shares of the company’s stock, valued at $33,159.18. 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.