American Century Companies Inc. Has $1.58 Million Holdings in Topgolf Callaway Brands Corp. $MODG

American Century Companies Inc. lessened its holdings in Topgolf Callaway Brands Corp. (NYSE:MODG - Free Report) by 90.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 239,824 shares of the company's stock after selling 2,363,723 shares during the period. American Century Companies Inc. owned 0.13% of Topgolf Callaway Brands worth $1,580,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in MODG. Raymond James Financial Inc. bought a new stake in Topgolf Callaway Brands in the 4th quarter valued at $380,000. Marshall Wace LLP bought a new stake in Topgolf Callaway Brands in the 4th quarter valued at $135,000. Stifel Financial Corp bought a new stake in Topgolf Callaway Brands in the 4th quarter valued at $83,000. Hsbc Holdings PLC raised its stake in Topgolf Callaway Brands by 82.6% in the 4th quarter. Hsbc Holdings PLC now owns 33,238 shares of the company's stock valued at $261,000 after acquiring an additional 15,032 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in Topgolf Callaway Brands by 10.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 96,124 shares of the company's stock valued at $756,000 after acquiring an additional 9,369 shares during the period. Institutional investors own 84.69% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on MODG. JPMorgan Chase & Co. lowered their price objective on 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. B. Riley reiterated a "neutral" rating and set a $9.50 price objective (up previously from $7.00) on shares of Topgolf Callaway Brands in a research report on Monday, August 11th. Wall Street Zen upgraded Topgolf Callaway Brands from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Cfra reiterated a "hold" rating and set a $9.00 price objective on shares of Topgolf Callaway Brands in a research report on Friday, July 11th. Finally, Morgan Stanley began coverage on Topgolf Callaway Brands in a research report on Friday, July 18th. They set an "equal weight" rating and a $9.50 price objective on the stock. Three investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $10.00.

Topgolf Callaway Brands Price Performance

Shares of NYSE MODG traded up $0.11 during mid-day trading on Friday, reaching $9.23. The company had a trading volume of 1,711,259 shares, compared to its average volume of 2,397,053. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.25 and a current ratio of 1.85. Topgolf Callaway Brands Corp. has a one year low of $5.42 and a one year high of $11.28. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of -1.13 and a beta of 1.25. The business's 50-day simple moving average is $9.25 and its 200 day simple moving average is $7.60.

Topgolf Callaway Brands (NYSE:MODG - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.24 EPS for the quarter, topping analysts' consensus estimates of $0.03 by $0.21. Topgolf Callaway Brands had a positive return on equity of 0.37% and a negative net margin of 36.08%.The company had revenue of $1.11 billion for the quarter, compared to analysts' expectations of $1.08 billion. During the same quarter last year, the business earned $0.42 earnings per share. Topgolf Callaway Brands's revenue was down 4.1% on a year-over-year basis. On average, research analysts predict that Topgolf Callaway Brands Corp. will post 0.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Artie Starrs sold 106,734 shares of the firm's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $8.64, for a total value of $922,181.76. Following the sale, the chief executive officer directly owned 105,823 shares of the company's stock, valued at $914,310.72. This trade represents a 50.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Adebayo O. Ogunlesi acquired 38,782 shares of Topgolf Callaway Brands stock in a transaction that occurred on Tuesday, June 10th. The stock was acquired at an average cost of $7.59 per share, for a total transaction of $294,355.38. Following the completion of the purchase, the director directly owned 845,284 shares of the company's stock, valued at $6,415,705.56. This represents a 4.81% increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.40% of the stock is owned by company 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.