OMERS ADMINISTRATION Corp Makes New Investment in Topgolf Callaway Brands Corp. (NYSE:MODG)

OMERS ADMINISTRATION Corp purchased a new position in shares of Topgolf Callaway Brands Corp. (NYSE:MODG - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 66,500 shares of the company's stock, valued at approximately $523,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Augustine Asset Management Inc. grew its position in Topgolf Callaway Brands by 7.4% during the 4th quarter. Augustine Asset Management Inc. now owns 21,843 shares of the company's stock worth $172,000 after purchasing an additional 1,500 shares during the period. MetLife Investment Management LLC grew its position in Topgolf Callaway Brands by 2.9% during the 4th quarter. MetLife Investment Management LLC now owns 82,820 shares of the company's stock worth $651,000 after purchasing an additional 2,303 shares during the period. Crossmark Global Holdings Inc. grew its position in Topgolf Callaway Brands by 7.8% during the 4th quarter. Crossmark Global Holdings Inc. now owns 37,329 shares of the company's stock worth $293,000 after purchasing an additional 2,712 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Topgolf Callaway Brands by 4.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 80,716 shares of the company's stock worth $634,000 after purchasing an additional 3,084 shares during the period. Finally, Boyar Asset Management Inc. grew its position in shares of Topgolf Callaway Brands by 3.4% during the 4th quarter. Boyar Asset Management Inc. now owns 108,127 shares of the company's stock valued at $850,000 after acquiring an additional 3,587 shares during the period. 84.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MODG has been the topic of a number of analyst reports. Truist Financial dropped their target price 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. B. Riley initiated coverage on Topgolf Callaway Brands in a research report on Friday, May 16th. They set a "neutral" rating and a $7.00 target price on the stock. Wall Street Zen cut Topgolf Callaway Brands from a "hold" rating to a "sell" rating in a research report on Thursday. Finally, Roth Mkm restated a "buy" rating and set a $11.00 target price (down from $16.00) on shares of Topgolf Callaway Brands in a research report on Tuesday, February 25th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, Topgolf Callaway Brands presently has an average rating of "Hold" and an average target price of $10.50.

Topgolf Callaway Brands Price Performance

MODG stock traded down $0.07 during trading on Friday, hitting $6.26. The stock had a trading volume of 1,867,889 shares, compared to its average volume of 2,756,310. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 1.14. Topgolf Callaway Brands Corp. has a twelve month low of $5.42 and a twelve month high of $16.89. The stock has a market capitalization of $1.15 billion, a P/E ratio of -78.24 and a beta of 1.25. The company's 50-day moving average price is $6.55 and its two-hundred day moving average price is $7.38.

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

Insider Buying and Selling

In related news, CEO Oliver G. Brewer III acquired 20,000 shares of the stock in a transaction on Wednesday, May 14th. The shares were bought at an average price of $6.40 per share, with a total value of $128,000.00. Following the completion of the purchase, the chief executive officer now owns 1,009,297 shares of the company's stock, valued at approximately $6,459,500.80. This represents a 2.02% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Russell L. Fleischer acquired 30,000 shares of the stock in a transaction on Wednesday, May 14th. The shares were bought at an average cost of $6.41 per share, for a total transaction of $192,300.00. Following the purchase, the director now directly owns 116,187 shares of the company's stock, valued at $744,758.67. The trade was a 34.81% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have bought 60,000 shares of company stock worth $388,900. Insiders own 2.40% of the company's stock.

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.