Wealth Enhancement Advisory Services LLC Takes Position in Topgolf Callaway Brands Corp. (NYSE:MODG)

Wealth Enhancement Advisory Services LLC acquired a new position in Topgolf Callaway Brands Corp. (NYSE:MODG - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 36,735 shares of the company's stock, valued at approximately $289,000.

A number of other large investors have also recently made changes to their positions in MODG. Wealthfront Advisers LLC lifted its stake in Topgolf Callaway Brands by 589.5% in the fourth quarter. Wealthfront Advisers LLC now owns 85,807 shares of the company's stock worth $674,000 after acquiring an additional 73,362 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Topgolf Callaway Brands by 14.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,286,719 shares of the company's stock valued at $17,974,000 after purchasing an additional 291,052 shares in the last quarter. Invesco Ltd. increased its position in shares of Topgolf Callaway Brands by 41.9% during the fourth quarter. Invesco Ltd. now owns 1,591,742 shares of the company's stock valued at $12,511,000 after buying an additional 469,728 shares during the period. Claar Advisors LLC bought a new position in Topgolf Callaway Brands in the fourth quarter worth about $4,716,000. Finally, Vanguard Group Inc. lifted its holdings in Topgolf Callaway Brands by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 15,860,996 shares of the company's stock worth $124,667,000 after buying an additional 224,578 shares during the period. 84.69% of the stock is currently owned by institutional investors.

Topgolf Callaway Brands Stock Down 0.4%

NYSE MODG traded down $0.04 during mid-day trading on Thursday, reaching $8.37. The stock had a trading volume of 2,650,533 shares, compared to its average volume of 2,828,159. The stock has a market cap of $1.54 billion, a PE ratio of -1.06 and a beta of 1.21. Topgolf Callaway Brands Corp. has a 1 year low of $5.42 and a 1 year high of $16.89. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.12 and a quick ratio of 1.41. The company has a fifty day moving average price of $6.78 and a 200 day moving average price of $7.18.

Topgolf Callaway Brands (NYSE:MODG - Get Free Report) last posted its earnings results on Monday, May 12th. The company reported $0.11 EPS for the quarter, topping analysts' consensus estimates of ($0.04) by $0.15. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.08 billion. Topgolf Callaway Brands had a positive return on equity of 1.51% and a negative net margin of 34.68%. The company's quarterly revenue was down 4.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.08 EPS. On average, research analysts expect that Topgolf Callaway Brands Corp. will post 0.16 earnings per share for the current year.

Analysts Set New Price Targets

MODG has been the subject of a number of research analyst reports. Truist Financial lowered their target price on Topgolf Callaway Brands from $12.00 to $7.00 and set a "buy" rating for the company in a research note on Monday, April 14th. B. Riley started coverage on shares of Topgolf Callaway Brands in a report on Friday, May 16th. They set a "neutral" rating and a $7.00 target price on the stock. JPMorgan Chase & Co. reduced 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. Roth Mkm reissued a "buy" rating and set a $11.00 price target (down from $16.00) on shares of Topgolf Callaway Brands in a research report on Tuesday, February 25th. Finally, Wall Street Zen downgraded shares of Topgolf Callaway Brands from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Three analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $10.30.

Insiders Place Their Bets

In other news, EVP Glenn F. Hickey bought 10,000 shares of the company's stock in a transaction on Monday, May 19th. The shares were acquired at an average cost of $6.86 per share, with a total value of $68,600.00. Following the completion of the transaction, the executive vice president now owns 10,000 shares of the company's stock, valued at approximately $68,600. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Oliver G. Brewer III purchased 20,000 shares of the business's stock in a transaction on Wednesday, May 14th. The shares were purchased at an average price of $6.40 per share, with a total value of $128,000.00. Following the completion of the purchase, the chief executive officer now owns 1,009,297 shares in the company, valued at approximately $6,459,500.80. This trade represents a 2.02% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 905,284 shares of company stock valued at $5,922,500. 2.40% of the stock is owned by insiders.

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.