Thompson Investment Management Inc. Has $5.39 Million Stake in Topgolf Callaway Brands Corp. (NYSE:MODG)

Thompson Investment Management Inc. reduced its holdings in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) by 6.3% in the 1st quarter, Holdings Channel.com reports. The fund owned 333,071 shares of the company’s stock after selling 22,273 shares during the period. Thompson Investment Management Inc.’s holdings in Topgolf Callaway Brands were worth $5,386,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in MODG. HighTower Advisors LLC grew its stake in shares of Topgolf Callaway Brands by 120.9% during the 3rd quarter. HighTower Advisors LLC now owns 35,250 shares of the company’s stock worth $488,000 after acquiring an additional 19,295 shares in the last quarter. Deutsche Bank AG grew its stake in shares of Topgolf Callaway Brands by 13.3% during the 3rd quarter. Deutsche Bank AG now owns 81,435 shares of the company’s stock worth $1,127,000 after acquiring an additional 9,569 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Topgolf Callaway Brands by 1.1% during the 3rd quarter. Rhumbline Advisers now owns 510,434 shares of the company’s stock worth $7,064,000 after acquiring an additional 5,755 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Topgolf Callaway Brands by 151.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 7,241 shares of the company’s stock worth $100,000 after acquiring an additional 4,362 shares in the last quarter. Finally, Sterneck Capital Management LLC boosted its holdings in shares of Topgolf Callaway Brands by 49.1% in the 3rd quarter. Sterneck Capital Management LLC now owns 24,106 shares of the company’s stock valued at $334,000 after buying an additional 7,943 shares during the last quarter. 84.69% of the stock is owned by institutional investors.

Topgolf Callaway Brands Trading Down 0.8 %

NYSE MODG traded down $0.12 on Wednesday, hitting $15.19. The company’s stock had a trading volume of 394,463 shares, compared to its average volume of 2,282,305. Topgolf Callaway Brands Corp. has a 52-week low of $9.84 and a 52-week high of $20.75. The company has a current ratio of 1.82, a quick ratio of 1.02 and a debt-to-equity ratio of 0.39. The company’s 50-day simple moving average is $15.48 and its 200 day simple moving average is $14.82. The firm has a market cap of $2.79 billion, a P/E ratio of 41.08, a PEG ratio of 2.54 and a beta of 1.80.

Topgolf Callaway Brands (NYSE:MODG) last posted its earnings results on Wednesday, May 8th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.08. Topgolf Callaway Brands had a return on equity of 1.93% and a net margin of 1.80%. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter last year, the company earned $0.17 EPS. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. Research analysts predict that Topgolf Callaway Brands Corp. will post 0.34 EPS for the current fiscal year.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Truist Financial increased their price objective on Topgolf Callaway Brands from $18.00 to $20.00 and gave the company a “buy” rating in a report on Monday, April 29th. TD Cowen increased their price objective on Topgolf Callaway Brands from $10.00 to $13.00 and gave the company a “hold” rating in a report on Monday, May 13th. Tigress Financial reaffirmed a “buy” rating and set a $38.00 price target on shares of Topgolf Callaway Brands in a report on Friday, April 12th. Finally, B. Riley raised their price target on Topgolf Callaway Brands from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Topgolf Callaway Brands presently has an average rating of “Hold” and a consensus target price of $19.33.

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.