52,439 Shares in Topgolf Callaway Brands Corp. $MODG Purchased by Inspire Investing LLC

Key Points

• Inspire Investing LLC acquired a new stake in Topgolf Callaway Brands Corp., purchasing 52,439 shares valued at approximately $346,000.
• Several institutional investors, including Long Focus Capital Management LLC and Alliancebernstein L.P., have significantly increased their stakes in the company during the first quarter.
• Topgolf Callaway Brands reported a quarterly earnings per share (EPS) of $0.24, exceeding the consensus estimate of $0.03, although revenue declined 4.1% year-over-year.

Inspire Investing LLC acquired a new stake in Topgolf Callaway Brands Corp. (NYSE:MODG - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 52,439 shares of the company's stock, valued at approximately $346,000.

Several other large investors also recently added to or reduced their stakes in the stock. Long Focus Capital Management LLC boosted its position in Topgolf Callaway Brands by 44.8% in the 1st quarter. Long Focus Capital Management LLC now owns 2,950,844 shares of the company's stock valued at $19,446,000 after buying an additional 912,844 shares during the period. Alliancebernstein L.P. boosted its position in Topgolf Callaway Brands by 21.7% in the 1st quarter. Alliancebernstein L.P. now owns 2,618,608 shares of the company's stock valued at $17,257,000 after buying an additional 466,043 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Topgolf Callaway Brands by 8.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,478,250 shares of the company's stock valued at $16,332,000 after buying an additional 191,531 shares during the period. Invesco Ltd. boosted its position in Topgolf Callaway Brands by 7.6% in the 1st quarter. Invesco Ltd. now owns 1,713,085 shares of the company's stock valued at $11,289,000 after buying an additional 121,343 shares during the period. Finally, Bridgeway Capital Management LLC boosted its position in Topgolf Callaway Brands by 15.0% in the 1st quarter. Bridgeway Capital Management LLC now owns 943,748 shares of the company's stock valued at $6,219,000 after buying an additional 122,797 shares during the period. 84.69% of the stock is owned by hedge funds and other institutional investors.

Topgolf Callaway Brands Trading Down 1.1%

NYSE MODG opened at $9.56 on Monday. The company has a quick ratio of 1.25, a current ratio of 1.85 and a debt-to-equity ratio of 0.48. The firm has a market cap of $1.76 billion, a PE ratio of -1.18 and a beta of 1.25. The company has a 50 day moving average price of $9.30 and a 200 day moving average price of $7.70. Topgolf Callaway Brands Corp. has a 52 week low of $5.42 and a 52 week high of $11.28.

Topgolf Callaway Brands (NYSE:MODG - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.03 by $0.21. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.08 billion. Topgolf Callaway Brands had a negative net margin of 36.08% and a positive return on equity of 0.37%. Topgolf Callaway Brands's revenue was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.42 EPS. As a group, sell-side analysts forecast that Topgolf Callaway Brands Corp. will post 0.16 EPS for the current fiscal year.

Insider Buying and Selling

In other Topgolf Callaway Brands news, CEO Artie Starrs sold 106,734 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $8.64, for a total transaction of $922,181.76. Following the transaction, the chief executive officer owned 105,823 shares in the company, valued at approximately $914,310.72. This represents a 50.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Erik J. Anderson sold 25,704 shares of the company's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $9.25, for a total transaction of $237,762.00. Following the transaction, the director owned 20,607 shares in the company, valued at $190,614.75. The trade was a 55.50% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.49% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on MODG shares. Cfra reissued a "hold" rating and issued a $9.00 price objective on shares of Topgolf Callaway Brands in a research report on Friday, July 11th. JPMorgan Chase & Co. reduced their price target on shares of Topgolf Callaway Brands from $8.00 to $7.00 and set a "neutral" rating for the company in a report on Tuesday, May 27th. Wall Street Zen upgraded shares of Topgolf Callaway Brands from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. B. Riley restated a "neutral" rating and issued a $9.50 price target (up previously from $7.00) on shares of Topgolf Callaway Brands in a report on Monday, August 11th. Finally, Morgan Stanley started coverage on shares of Topgolf Callaway Brands in a report on Friday, July 18th. They issued an "equal weight" rating and a $9.50 price target for the company. Three research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, Topgolf Callaway Brands has a consensus rating of "Hold" and an average price target of $9.78.

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.

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