OMERS ADMINISTRATION Corp Invests $523,000 in Topgolf Callaway Brands Corp. (NYSE:MODG)

OMERS ADMINISTRATION Corp purchased a new stake in shares of Topgolf Callaway Brands Corp. (NYSE:MODG - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 66,500 shares of the company's stock, valued at approximately $523,000.

Other hedge funds also recently bought and sold shares of the company. Asset Planning Inc bought a new stake in shares of Topgolf Callaway Brands in the 4th quarter worth approximately $33,000. Sterling Capital Management LLC lifted its stake in Topgolf Callaway Brands by 821.5% in the fourth quarter. Sterling Capital Management LLC now owns 4,543 shares of the company's stock worth $36,000 after acquiring an additional 4,050 shares during the period. KBC Group NV lifted its stake in Topgolf Callaway Brands by 81.8% in the fourth quarter. KBC Group NV now owns 8,330 shares of the company's stock worth $65,000 after acquiring an additional 3,749 shares during the period. Covestor Ltd boosted its holdings in Topgolf Callaway Brands by 147.2% in the fourth quarter. Covestor Ltd now owns 9,286 shares of the company's stock valued at $73,000 after acquiring an additional 5,530 shares in the last quarter. Finally, FORA Capital LLC bought a new stake in Topgolf Callaway Brands in the fourth quarter valued at $81,000. Hedge funds and other institutional investors own 84.69% of the company's stock.

Insider Activity at Topgolf Callaway Brands

In other news, EVP Glenn F. Hickey acquired 10,000 shares of the firm's stock in a transaction that occurred on Monday, May 19th. The stock was bought at an average cost of $6.86 per share, for a total transaction 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 acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Oliver G. Brewer III bought 20,000 shares of the business's stock in a transaction 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 completion of 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 position. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 60,000 shares of company stock valued at $388,900. 2.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Topgolf Callaway Brands from $11.00 to $9.00 and set a "neutral" rating for the company in a report on Thursday, January 23rd. B. Riley started coverage on shares of Topgolf Callaway Brands in a report on Friday, May 16th. They issued a "neutral" rating and a $7.00 price objective for the company. Truist Financial cut their price objective on Topgolf Callaway Brands from $12.00 to $7.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Roth Mkm reissued a "buy" rating and issued a $11.00 target price (down previously from $16.00) on shares of Topgolf Callaway Brands in a research report on Tuesday, February 25th. Finally, Wall Street Zen cut Topgolf Callaway Brands from a "hold" rating to a "sell" rating in a research note on Thursday. Three research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Topgolf Callaway Brands currently has an average rating of "Hold" and an average price target of $10.50.

Topgolf Callaway Brands Stock Up 2.2%

Shares of Topgolf Callaway Brands stock traded up $0.14 during midday trading on Thursday, hitting $6.36. The company had a trading volume of 2,275,989 shares, compared to its average volume of 2,746,293. Topgolf Callaway Brands Corp. has a 52-week low of $5.42 and a 52-week 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 stock has a market capitalization of $1.17 billion, a P/E ratio of -79.43 and a beta of 1.25. The company has a 50 day moving average of $6.55 and a 200 day moving average of $7.44.

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