EntryPoint Capital LLC Takes Position in Topgolf Callaway Brands Corp. $MODG

EntryPoint Capital LLC purchased a new stake in Topgolf Callaway Brands Corp. (NYSE:MODG) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 59,724 shares of the company’s stock, valued at approximately $394,000.

Other large investors have also modified their holdings of the company. Sterling Capital Management LLC grew its position in shares of Topgolf Callaway Brands by 821.5% in the fourth quarter. Sterling Capital Management LLC now owns 4,543 shares of the company’s stock valued at $36,000 after purchasing an additional 4,050 shares during the last quarter. Dynamic Advisor Solutions LLC acquired a new stake in Topgolf Callaway Brands during the first quarter worth approximately $66,000. Capstone Financial Advisors Inc. acquired a new stake in Topgolf Callaway Brands during the first quarter worth approximately $66,000. FORA Capital LLC acquired a new stake in Topgolf Callaway Brands during the fourth quarter worth approximately $81,000. Finally, Stifel Financial Corp acquired a new stake in Topgolf Callaway Brands during the fourth quarter worth approximately $83,000. 84.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on MODG shares. B. Riley restated a “neutral” rating and set a $9.50 target price (up previously from $7.00) on shares of Topgolf Callaway Brands in a research report on Monday, August 11th. Morgan Stanley started coverage on shares of Topgolf Callaway Brands in a research report on Friday, July 18th. They set an “equal weight” rating and a $9.50 target price on the stock. JPMorgan Chase & Co. decreased their target price on shares of Topgolf Callaway Brands from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 27th. Cfra reaffirmed a “hold” rating and set a $9.00 price target on shares of Topgolf Callaway Brands in a research note on Friday, July 11th. Finally, Wall Street Zen raised shares of Topgolf Callaway Brands from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $10.00.

Insider Activity

In other news, Director Erik J. Anderson sold 25,704 shares of the firm’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $9.25, for a total value of $237,762.00. Following the transaction, 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 SEC, which is available at this link. Also, Director Adebayo O. Ogunlesi bought 384,731 shares of the business’s stock in a transaction dated Friday, June 6th. The stock was acquired at an average cost of $6.48 per share, for a total transaction of $2,493,056.88. Following the purchase, the director owned 768,432 shares in the company, valued at approximately $4,979,439.36. This trade represents a 100.27% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 845,284 shares of company stock valued at $5,533,600. Company insiders own 2.40% of the company’s stock.

Topgolf Callaway Brands Stock Performance

NYSE:MODG opened at $9.3780 on Thursday. The firm’s 50 day moving average is $8.92 and its two-hundred day moving average is $7.44. Topgolf Callaway Brands Corp. has a fifty-two week low of $5.42 and a fifty-two week high of $11.77. The company has a quick ratio of 1.25, a current ratio of 1.85 and a debt-to-equity ratio of 0.48. The company has a market cap of $1.72 billion, a P/E ratio of -1.15 and a beta of 1.26.

Topgolf Callaway Brands (NYSE:MODG) last issued 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 negative net margin of 36.08% and a positive return on equity of 0.37%. The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter last year, the firm posted $0.42 EPS. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. Analysts expect that Topgolf Callaway Brands Corp. will post 0.16 EPS for the current year.

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.