42,819 Shares in Topgolf Callaway Brands Corp. (NYSE:MODG) Purchased by Gotham Asset Management LLC

Gotham Asset Management LLC bought a new stake in Topgolf Callaway Brands Corp. (NYSE:MODG - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 42,819 shares of the company's stock, valued at approximately $337,000.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its stake 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 valued at $124,667,000 after acquiring an additional 224,578 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Topgolf Callaway Brands by 14.6% in 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 during the period. Alliancebernstein L.P. grew its position in shares of Topgolf Callaway Brands by 97.6% in the 4th quarter. Alliancebernstein L.P. now owns 2,152,565 shares of the company's stock valued at $16,919,000 after purchasing an additional 1,063,033 shares during the period. Ameriprise Financial Inc. increased its stake 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 purchasing an additional 764,322 shares in the last quarter. Finally, Long Focus Capital Management LLC raised its holdings in Topgolf Callaway Brands by 10.6% during the 4th quarter. Long Focus Capital Management LLC now owns 2,038,000 shares of the company's stock worth $16,019,000 after buying an additional 195,000 shares during the period. 84.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Roth Mkm reiterated a "buy" rating and issued a $11.00 price target (down previously from $16.00) on shares of Topgolf Callaway Brands in a report on Tuesday, February 25th. B. Riley began 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. Truist Financial dropped their price target on Topgolf Callaway Brands from $12.00 to $7.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Finally, Wall Street Zen cut Topgolf Callaway Brands from a "hold" rating to a "sell" rating in a research report on Thursday. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, Topgolf Callaway Brands has a consensus rating of "Hold" and an average price target of $10.50.

Insider Transactions at Topgolf Callaway Brands

In other Topgolf Callaway Brands news, CEO Oliver G. Brewer III purchased 20,000 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The shares were acquired at an average price of $6.40 per share, for a total transaction of $128,000.00. Following the purchase, the chief executive officer now owns 1,009,297 shares in the company, valued at approximately $6,459,500.80. The trade was a 2.02% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Glenn F. Hickey purchased 10,000 shares of the business'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 acquisition, the executive vice president now directly owns 10,000 shares in the company, valued at approximately $68,600. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 60,000 shares of company stock worth $388,900 in the last ninety days. Insiders own 2.40% of the company's stock.

Topgolf Callaway Brands Stock Down 1.1%

MODG traded down $0.07 on Monday, hitting $6.26. 1,867,889 shares of the company were exchanged, compared to its average volume of 2,756,310. The stock's fifty day moving average is $6.54 and its 200-day moving average is $7.34. Topgolf Callaway Brands Corp. has a 12 month low of $5.42 and a 12 month high of $16.89. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.14 and a current ratio of 1.93. The company has a market cap of $1.15 billion, a PE ratio of -78.24 and a beta of 1.25.

Topgolf Callaway Brands (NYSE:MODG - Get Free Report) last issued its earnings results on Monday, May 12th. The company reported $0.11 earnings per share for the quarter, topping analysts' consensus estimates of ($0.04) by $0.15. Topgolf Callaway Brands had a negative net margin of 0.29% and a positive return on equity of 1.20%. The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the previous year, the company earned $0.08 earnings per share. The firm's revenue for the quarter was down 4.5% on a year-over-year basis. Equities research analysts predict that Topgolf Callaway Brands Corp. will post 0.16 EPS for the current fiscal year.

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.