Lighthouse Investment Partners LLC Buys Shares of 94,160 Topgolf Callaway Brands Corp. (NYSE:MODG)

Lighthouse Investment Partners LLC acquired a new stake in shares of Topgolf Callaway Brands Corp. (NYSE:MODGFree Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 94,160 shares of the company’s stock, valued at approximately $1,350,000. Lighthouse Investment Partners LLC owned about 0.05% of Topgolf Callaway Brands as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in MODG. Jump Financial LLC purchased a new stake in shares of Topgolf Callaway Brands during the 3rd quarter valued at about $305,000. Swiss National Bank raised its holdings in shares of Topgolf Callaway Brands by 1.1% during the third quarter. Swiss National Bank now owns 326,400 shares of the company’s stock worth $4,517,000 after purchasing an additional 3,700 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Topgolf Callaway Brands by 9.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,417,725 shares of the company’s stock worth $19,621,000 after purchasing an additional 118,607 shares during the last quarter. HighTower Advisors LLC increased its holdings in Topgolf Callaway Brands by 120.9% in the third quarter. HighTower Advisors LLC now owns 35,250 shares of the company’s stock valued at $488,000 after buying an additional 19,295 shares in the last quarter. Finally, Blair William & Co. IL increased its holdings in Topgolf Callaway Brands by 7.7% in the third quarter. Blair William & Co. IL now owns 66,990 shares of the company’s stock valued at $927,000 after buying an additional 4,800 shares in the last quarter. 84.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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

Topgolf Callaway Brands Stock Performance

NYSE:MODG opened at $15.24 on Tuesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.82 and a quick ratio of 1.02. The firm has a market capitalization of $2.80 billion, a price-to-earnings ratio of 41.19, a PEG ratio of 2.53 and a beta of 1.80. The company’s 50-day moving average is $15.69 and its two-hundred day moving average is $14.61. Topgolf Callaway Brands Corp. has a 1-year low of $9.84 and a 1-year high of $20.75.

Topgolf Callaway Brands (NYSE:MODGGet Free Report) last posted its earnings results 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 company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.16 billion. Topgolf Callaway Brands had a net margin of 1.80% and a return on equity of 1.93%. Topgolf Callaway Brands’s revenue was down 2.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.17 EPS. Analysts forecast that Topgolf Callaway Brands Corp. will post 0.34 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MODG. B. Riley lifted their target price on shares of Topgolf Callaway Brands from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Truist Financial lifted their target price on shares of Topgolf Callaway Brands from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, April 29th. TD Cowen boosted their price target on shares of Topgolf Callaway Brands from $10.00 to $13.00 and gave the stock a “hold” rating in a research report on Monday, May 13th. Tigress Financial restated a “buy” rating and set a $38.00 price target on shares of Topgolf Callaway Brands in a research report on Friday, April 12th. Finally, KeyCorp lowered their price target on shares of 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 research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Topgolf Callaway Brands has an average rating of “Hold” and a consensus price target of $19.33.

Check Out Our Latest Report on Topgolf Callaway Brands

Topgolf Callaway Brands Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Topgolf Callaway Brands (NYSE:MODG)

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