EntryPoint Capital LLC Makes New $394,000 Investment in Topgolf Callaway Brands Corp. $MODG

Key Points

• EntryPoint Capital LLC acquired a new stake in Topgolf Callaway Brands Corp. during Q1, purchasing 59,724 shares valued at approximately $394,000.
• Analysts have set varying price targets for Topgolf Callaway Brands, with B. Riley and Morgan Stanley both targeting $9.50 and a general average target price of $10.00.
• Insider trading activity includes a director selling 25,704 shares at an average price of $9.25, while another director significantly increased their position by acquiring 384,731 shares.

EntryPoint Capital LLC bought a new position in shares of Topgolf Callaway Brands Corp. (NYSE:MODG - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 59,724 shares of the company's stock, valued at approximately $394,000.

A number of other institutional investors have also recently bought and sold shares of MODG. Ameriprise Financial Inc. grew its holdings in Topgolf Callaway Brands by 57.8% during the 4th quarter. Ameriprise Financial Inc. now owns 2,086,700 shares of the company's stock worth $16,401,000 after acquiring an additional 764,322 shares during the period. Claar Advisors LLC acquired a new position in shares of Topgolf Callaway Brands in the 4th quarter valued at $4,716,000. Shapiro Capital Management LLC raised its stake in Topgolf Callaway Brands by 3.6% during the 4th quarter. Shapiro Capital Management LLC now owns 10,520,632 shares of the company's stock worth $82,692,000 after buying an additional 366,192 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in Topgolf Callaway Brands during the fourth quarter worth about $2,796,000. Finally, Prentice Capital Management LP bought a new position in Topgolf Callaway Brands during the fourth quarter worth about $2,510,000. Institutional investors and hedge funds own 84.69% of the company's stock.

Topgolf Callaway Brands Stock Up 5.0%

NYSE MODG traded up $0.4640 on Friday, reaching $9.7540. The company had a trading volume of 2,386,215 shares, compared to its average volume of 3,130,131. The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of -1.20 and a beta of 1.26. 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 1-year low of $5.42 and a 1-year high of $11.61. The company's fifty day moving average is $8.99 and its 200-day moving average is $7.46.

Topgolf Callaway Brands (NYSE:MODG - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.24 earnings per share for the quarter, topping analysts' consensus estimates 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%. The company's revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.42 EPS. On average, research analysts forecast 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 company's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $8.64, for a total value of $922,181.76. Following the completion of the transaction, the chief executive officer directly owned 105,823 shares of the company's stock, 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 Securities & Exchange Commission, which is accessible through this link. Also, Director Adebayo O. Ogunlesi purchased 384,731 shares of the business's stock in a transaction on Friday, June 6th. The shares were acquired at an average cost of $6.48 per share, for a total transaction of $2,493,056.88. Following the completion of the transaction, the director directly owned 768,432 shares in the company, valued at approximately $4,979,439.36. This represents a 100.27% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 845,284 shares of company stock valued at $5,533,600. Company insiders own 2.40% of the company's stock.

Wall Street Analyst Weigh In

MODG has been the subject of a number of research analyst reports. Morgan Stanley initiated coverage on Topgolf Callaway Brands in a research note on Friday, July 18th. They issued an "equal weight" rating and a $9.50 target price for the company. JPMorgan Chase & Co. decreased their target price on Topgolf Callaway Brands from $8.00 to $7.00 and set a "neutral" rating for the company in a research note on Tuesday, May 27th. B. Riley reissued a "neutral" rating and issued a $9.50 target price (up from $7.00) on shares of Topgolf Callaway Brands in a research note on Monday, August 11th. Wall Street Zen raised Topgolf Callaway Brands from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Cfra reissued a "hold" rating and issued a $9.00 target price on shares of Topgolf Callaway Brands in a research note on Friday, July 11th. Three research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's 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 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.