Park Avenue Securities LLC Has $239,000 Stock Holdings in Topgolf Callaway Brands Corp. (NYSE:MODG)

Park Avenue Securities LLC lowered its position in Topgolf Callaway Brands Corp. (NYSE:MODG) by 6.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,783 shares of the company’s stock after selling 942 shares during the quarter. Park Avenue Securities LLC’s holdings in Topgolf Callaway Brands were worth $239,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in MODG. Vanguard Group Inc. lifted its holdings in shares of Topgolf Callaway Brands by 13.6% during the fourth quarter. Vanguard Group Inc. now owns 15,403,379 shares of the company’s stock worth $220,884,000 after purchasing an additional 1,845,864 shares during the period. TimesSquare Capital Management LLC lifted its stake in shares of Topgolf Callaway Brands by 0.7% in the third quarter. TimesSquare Capital Management LLC now owns 1,684,235 shares of the company’s stock worth $23,310,000 after acquiring an additional 11,505 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Topgolf Callaway Brands by 11.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,577,637 shares of the company’s stock worth $22,623,000 after purchasing an additional 159,912 shares during the last quarter. Kennedy Capital Management LLC increased its position in shares of Topgolf Callaway Brands by 8.2% during the third quarter. Kennedy Capital Management LLC now owns 1,346,554 shares of the company’s stock worth $18,636,000 after buying an additional 102,325 shares during the period. Finally, Granahan Investment Management LLC lifted its holdings in Topgolf Callaway Brands by 1.5% in the fourth quarter. Granahan Investment Management LLC now owns 1,117,187 shares of the company’s stock valued at $16,020,000 after buying an additional 16,299 shares during the period. Institutional investors own 84.69% of the company’s stock.

Topgolf Callaway Brands Stock Down 2.0 %

MODG stock opened at $15.00 on Tuesday. The firm has a market capitalization of $2.75 billion, a PE ratio of 40.54, a P/E/G ratio of 2.53 and a beta of 1.77. The company has a quick ratio of 1.02, a current ratio of 1.82 and a debt-to-equity ratio of 0.39. Topgolf Callaway Brands Corp. has a twelve month low of $9.84 and a twelve month high of $20.75. The stock’s 50 day moving average is $15.45 and its 200-day moving average is $14.88.

Topgolf Callaway Brands (NYSE:MODG) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.08. The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Topgolf Callaway Brands had a return on equity of 1.93% and a net margin of 1.80%. During the same period last year, the business earned $0.17 EPS. The business’s revenue was down 2.0% on a year-over-year basis. Sell-side analysts expect that Topgolf Callaway Brands Corp. will post 0.34 EPS for the current fiscal year.

Insider Activity at Topgolf Callaway Brands

In other Topgolf Callaway Brands news, Director Erik J. Anderson sold 7,500 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $15.37, for a total value of $115,275.00. Following the completion of the sale, the director now directly owns 760,459 shares of the company’s stock, valued at approximately $11,688,254.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Erik J. Anderson sold 10,000 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $15.19, for a total value of $151,900.00. Following the transaction, the director now directly owns 767,959 shares of the company’s stock, valued at approximately $11,665,297.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Erik J. Anderson sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $15.37, for a total transaction of $115,275.00. Following the sale, the director now owns 760,459 shares of the company’s stock, valued at approximately $11,688,254.83. The disclosure for this sale can be found here. 2.49% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Tigress Financial reissued a “buy” rating and issued a $38.00 price objective on shares of Topgolf Callaway Brands in a research note on Friday, April 12th. B. Riley lifted their price target on shares of Topgolf Callaway Brands from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. TD Cowen raised their target price on Topgolf Callaway Brands from $10.00 to $13.00 and gave the company a “hold” rating in a research note on Monday, May 13th. Finally, Truist Financial upped their price target on Topgolf Callaway Brands from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Topgolf Callaway Brands currently has a consensus rating of “Hold” and an average target price of $19.33.

Topgolf Callaway Brands 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.