Universal Beteiligungs und Servicegesellschaft mbH Invests $265,000 in Topgolf Callaway Brands Corp. (NYSE:MODG)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Topgolf Callaway Brands by purchasing 40,195 shares for approximately $265,000 in the first quarter.
• Topgolf Callaway Brands reported earnings per share of $0.11, beating the consensus estimate and generating $1.09 billion in revenue for the quarter, despite a 4.5% decline compared to the previous year.
• Institutional investors and hedge funds currently own 84.69% of Topgolf Callaway Brands’ stock, indicating strong investor interest in the company.

Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Topgolf Callaway Brands Corp. (NYSE:MODG - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 40,195 shares of the company's stock, valued at approximately $265,000.

Other hedge funds have also modified their holdings of the company. Alliancebernstein L.P. raised its stake in Topgolf Callaway Brands by 97.6% in the fourth quarter. Alliancebernstein L.P. now owns 2,152,565 shares of the company's stock valued at $16,919,000 after buying an additional 1,063,033 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Topgolf Callaway Brands by 57.8% during the fourth 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. ExodusPoint Capital Management LP acquired a new stake in shares of Topgolf Callaway Brands during the fourth quarter worth about $4,769,000. Claar Advisors LLC acquired a new stake in shares of Topgolf Callaway Brands during the fourth quarter worth about $4,716,000. Finally, Invesco Ltd. increased its position in shares of Topgolf Callaway Brands by 41.9% during the fourth quarter. Invesco Ltd. now owns 1,591,742 shares of the company's stock worth $12,511,000 after purchasing an additional 469,728 shares in the last quarter. 84.69% of the stock is currently owned by institutional investors and hedge funds.

Topgolf Callaway Brands Price Performance

Shares of Topgolf Callaway Brands stock traded up $0.45 during trading on Tuesday, hitting $9.03. 3,317,778 shares of the company were exchanged, compared to its average volume of 2,676,243. The company has a quick ratio of 1.41, a current ratio of 2.12 and a debt-to-equity ratio of 0.60. Topgolf Callaway Brands Corp. has a fifty-two week low of $5.42 and a fifty-two week high of $14.51. The stock has a market capitalization of $1.66 billion, a price-to-earnings ratio of -1.14 and a beta of 1.26. The firm has a 50 day moving average price of $8.29 and a 200 day moving average price of $7.34.

Topgolf Callaway Brands (NYSE:MODG - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.15. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.08 billion. Topgolf Callaway Brands had a positive return on equity of 1.51% and a negative net margin of 34.68%. Topgolf Callaway Brands's revenue was down 4.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.08 EPS. On average, equities analysts expect that Topgolf Callaway Brands Corp. will post 0.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MODG has been the topic of a number of research analyst reports. Morgan Stanley initiated coverage on Topgolf Callaway Brands in a research report on Friday, July 18th. They set an "equal weight" rating and a $9.50 target price on the stock. JPMorgan Chase & Co. cut their target price on Topgolf Callaway Brands from $8.00 to $7.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 27th. Cfra reiterated a "hold" rating and set a $9.00 target price on shares of Topgolf Callaway Brands in a research report on Friday, July 11th. Truist Financial cut 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. Finally, Wall Street Zen cut Topgolf Callaway Brands from a "hold" rating to a "sell" rating in a research report on Sunday, July 6th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $10.14.

Insider Buying and Selling

In other news, EVP Glenn F. Hickey acquired 10,000 shares of the firm's stock in a transaction on Monday, May 19th. The stock was bought at an average cost of $6.86 per share, with a total value of $68,600.00. Following the transaction, the executive vice president directly owned 10,000 shares in the company, valued at approximately $68,600. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Adebayo O. Ogunlesi acquired 38,782 shares of the firm's stock in a transaction on Tuesday, June 10th. The stock was purchased at an average cost of $7.59 per share, with a total value of $294,355.38. Following the completion of the transaction, the director owned 845,284 shares in the company, valued at $6,415,705.56. The trade was a 4.81% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 905,284 shares of company stock valued at $5,922,500 in the last 90 days. 2.49% of the stock is currently owned by company insiders.

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.