Wealth Enhancement Advisory Services LLC Invests $289,000 in Topgolf Callaway Brands Corp. (NYSE:MODG)

Wealth Enhancement Advisory Services LLC bought a new position in shares of Topgolf Callaway Brands Corp. (NYSE:MODG - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 36,735 shares of the company's stock, valued at approximately $289,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sterling Capital Management LLC grew its position in Topgolf Callaway Brands by 821.5% in the 4th quarter. Sterling Capital Management LLC now owns 4,543 shares of the company's stock valued at $36,000 after purchasing an additional 4,050 shares during the period. Covestor Ltd increased its position in shares of Topgolf Callaway Brands by 147.2% during the fourth quarter. Covestor Ltd now owns 9,286 shares of the company's stock worth $73,000 after acquiring an additional 5,530 shares in the last quarter. FORA Capital LLC acquired a new stake in shares of Topgolf Callaway Brands in the 4th quarter worth about $81,000. Stifel Financial Corp bought a new position in Topgolf Callaway Brands in the 4th quarter valued at about $83,000. Finally, Xponance Inc. acquired a new position in Topgolf Callaway Brands during the 4th quarter valued at about $87,000. 84.69% of the stock is owned by institutional investors.

Topgolf Callaway Brands Stock Performance

Shares of Topgolf Callaway Brands stock traded down $0.02 on Tuesday, reaching $8.40. 3,290,778 shares of the company traded hands, compared to its average volume of 2,818,962. 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 firm has a market capitalization of $1.54 billion, a PE ratio of 38.23 and a beta of 1.21. The company has a 50 day moving average of $6.70 and a 200 day moving average of $7.16. Topgolf Callaway Brands Corp. has a 52 week low of $5.42 and a 52 week high of $16.89.

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

Insider Buying and Selling at Topgolf Callaway Brands

In related news, Director Adebayo O. Ogunlesi bought 384,731 shares of the company's stock in a transaction on Friday, June 6th. The shares were purchased at an average price of $6.48 per share, for a total transaction of $2,493,056.88. Following the completion of the transaction, the director now directly owns 768,432 shares in the company, valued at approximately $4,979,439.36. The trade was a 100.27% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Oliver G. Brewer III acquired 20,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The shares were bought at an average price of $6.40 per share, for a total transaction 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 $6,459,500.80. This trade represents a 2.02% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 905,284 shares of company stock valued at $5,922,500 over the last three months. 2.49% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Roth Mkm restated a "buy" rating and issued a $11.00 target price (down previously from $16.00) on shares of Topgolf Callaway Brands in a report on Tuesday, February 25th. JPMorgan Chase & Co. dropped their price objective on Topgolf Callaway Brands from $8.00 to $7.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 27th. B. Riley started coverage on shares of Topgolf Callaway Brands in a research note on Friday, May 16th. They issued a "neutral" rating and a $7.00 target price for the company. Wall Street Zen downgraded shares of Topgolf Callaway Brands from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Finally, Truist Financial cut their price target on shares of Topgolf Callaway Brands from $12.00 to $7.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $10.30.

About Topgolf Callaway Brands

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.