Grace & White Inc. NY Raises Holdings in Topgolf Callaway Brands Corp. (NYSE:MODG)

Grace & White Inc. NY lifted its holdings in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) by 13.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 663,594 shares of the company’s stock after buying an additional 79,100 shares during the period. Topgolf Callaway Brands comprises 1.7% of Grace & White Inc. NY’s investment portfolio, making the stock its 19th biggest holding. Grace & White Inc. NY owned approximately 0.36% of Topgolf Callaway Brands worth $9,516,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of MODG. GAMMA Investing LLC acquired a new stake in shares of Topgolf Callaway Brands during the fourth quarter worth $44,000. Wolff Wiese Magana LLC boosted its holdings in shares of Topgolf Callaway Brands by 87.8% during the third quarter. Wolff Wiese Magana LLC now owns 3,317 shares of the company’s stock worth $46,000 after purchasing an additional 1,551 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Topgolf Callaway Brands by 151.5% during the third quarter. PNC Financial Services Group Inc. now owns 7,241 shares of the company’s stock worth $100,000 after purchasing an additional 4,362 shares during the last quarter. Ranch Capital Advisors Inc. acquired a new stake in shares of Topgolf Callaway Brands during the third quarter worth $140,000. Finally, Park Avenue Securities LLC acquired a new stake in shares of Topgolf Callaway Brands during the third quarter worth $150,000. 84.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Topgolf Callaway Brands

In other Topgolf Callaway Brands news, Director Erik J. Anderson sold 5,000 shares of Topgolf Callaway Brands stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 777,959 shares in the company, valued at $11,319,303.45. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Topgolf Callaway Brands news, Director Erik J. Anderson sold 5,000 shares of Topgolf Callaway Brands stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 777,959 shares in the company, valued at $11,319,303.45. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Erik J. Anderson sold 2,028 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $14.79, for a total value of $29,994.12. Following the transaction, 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. 11.97% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on MODG. 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. Raymond James increased their target price on Topgolf Callaway Brands from $14.00 to $16.00 and gave the stock an “outperform” rating in a research report on Thursday, January 4th. Finally, KeyCorp cut their target price on Topgolf Callaway Brands from $20.00 to $18.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.64.

Topgolf Callaway Brands Stock Up 2.2 %

NYSE:MODG traded up $0.35 during mid-day trading on Tuesday, reaching $16.17. The stock had a trading volume of 1,228,428 shares, compared to its average volume of 2,560,108. The company has a market capitalization of $2.97 billion, a price-to-earnings ratio of 34.70, a price-to-earnings-growth ratio of 1.66 and a beta of 1.87. Topgolf Callaway Brands Corp. has a 1-year low of $9.84 and a 1-year high of $22.97. The stock’s 50 day simple moving average is $15.07 and its two-hundred day simple moving average is $13.83. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.72 and a quick ratio of 0.88.

Topgolf Callaway Brands (NYSE:MODG) last posted its quarterly earnings results on Tuesday, February 13th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $867.25 million. During the same period last year, the firm earned ($0.27) earnings per share. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. Equities analysts anticipate that Topgolf Callaway Brands Corp. will post 0.29 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.