Trexquant Investment LP Has $3.10 Million Stock Position in Topgolf Callaway Brands Corp. $MODG

Key Points

• Trexquant Investment LP has significantly increased its stake in Topgolf Callaway Brands Corp. by 120.1%, holding approximately 0.26% of the company worth $3,098,000 after acquiring 256,503 additional shares in Q1.
• Insider trading activity includes Director Adebayo O. Ogunlesi purchasing 38,782 shares for a total of $294,355, while Director Erik J. Anderson sold 25,704 shares worth $237,762.
• Several analysts have assigned "Hold" ratings to Topgolf Callaway Brands, with a consensus target price of $10.00; the stock's current price is around $9.42.

Trexquant Investment LP increased its stake in shares of Topgolf Callaway Brands Corp. (NYSE:MODG - Free Report) by 120.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 470,060 shares of the company's stock after buying an additional 256,503 shares during the quarter. Trexquant Investment LP owned about 0.26% of Topgolf Callaway Brands worth $3,098,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC bought a new position in shares of Topgolf Callaway Brands in the fourth quarter worth $289,000. Novem Group bought a new position in shares of Topgolf Callaway Brands in the first quarter worth $538,000. Dynamic Advisor Solutions LLC bought a new position in shares of Topgolf Callaway Brands in the first quarter worth $66,000. Fox Run Management L.L.C. bought a new position in shares of Topgolf Callaway Brands in the first quarter worth $265,000. Finally, Triumph Capital Management grew its stake in shares of Topgolf Callaway Brands by 389.9% in the first quarter. Triumph Capital Management now owns 131,437 shares of the company's stock worth $866,000 after purchasing an additional 104,605 shares in the last quarter. 84.69% of the stock is currently owned by institutional investors.

Topgolf Callaway Brands Stock Up 1.2%

Shares of MODG traded up $0.11 during midday trading on Friday, reaching $9.23. 1,711,259 shares of the stock were exchanged, compared to its average volume of 2,397,053. The company has a quick ratio of 1.25, a current ratio of 1.85 and a debt-to-equity ratio of 0.48. The company has a market cap of $1.70 billion, a price-to-earnings ratio of -1.13 and a beta of 1.25. The firm has a 50 day simple moving average of $9.25 and a 200-day simple moving average of $7.60. Topgolf Callaway Brands Corp. has a 12-month low of $5.42 and a 12-month high of $11.28.

Topgolf Callaway Brands (NYSE:MODG - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.24 EPS for the quarter, beating analysts' consensus estimates of $0.03 by $0.21. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.08 billion. Topgolf Callaway Brands had a positive return on equity of 0.37% and a negative net margin of 36.08%.The firm's revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.42 EPS. Research analysts forecast that Topgolf Callaway Brands Corp. will post 0.16 EPS for the current year.

Insiders Place Their Bets

In other Topgolf Callaway Brands news, Director Erik J. Anderson sold 25,704 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $9.25, for a total value of $237,762.00. Following the completion of the sale, the director owned 20,607 shares in the company, valued at approximately $190,614.75. This trade represents a 55.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Adebayo O. Ogunlesi acquired 38,782 shares of Topgolf Callaway Brands stock in a transaction on Tuesday, June 10th. The stock was purchased at an average price of $7.59 per share, with a total value of $294,355.38. Following the transaction, the director directly owned 845,284 shares in the company, valued at approximately $6,415,705.56. This trade represents a 4.81% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 2.40% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on MODG. B. Riley reissued a "neutral" rating and issued a $9.50 price target (up previously from $7.00) on shares of Topgolf Callaway Brands in a research note on Monday, August 11th. Cfra reaffirmed a "hold" rating and set a $9.00 target price on shares of Topgolf Callaway Brands in a research note on Friday, July 11th. Wall Street Zen raised Topgolf Callaway Brands from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Morgan Stanley assumed coverage on Topgolf Callaway Brands in a research note on Friday, July 18th. They set an "equal weight" rating and a $9.50 target price for the company. Finally, JPMorgan Chase & Co. reduced their target price on Topgolf Callaway Brands from $8.00 to $7.00 and set a "neutral" rating for the company in a report on Tuesday, May 27th. Three equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $10.00.

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.