State of Alaska Department of Revenue Acquires 70,689 Shares of Topgolf Callaway Brands Corp. (NYSE:MODG)

State of Alaska Department of Revenue raised its position in shares of Topgolf Callaway Brands Corp. (NYSE:MODG - Free Report) by 422.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 87,406 shares of the company's stock after buying an additional 70,689 shares during the quarter. State of Alaska Department of Revenue's holdings in Topgolf Callaway Brands were worth $1,253,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of MODG. Cambridge Investment Research Advisors Inc. grew its position in shares of Topgolf Callaway Brands by 2.7% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 38,792 shares of the company's stock worth $537,000 after acquiring an additional 1,010 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new stake in shares of Topgolf Callaway Brands during the 1st quarter worth about $29,000. Advisory Services Network LLC bought a new stake in shares of Topgolf Callaway Brands during the 1st quarter worth about $30,000. Creative Planning lifted its stake in shares of Topgolf Callaway Brands by 10.0% in the 3rd quarter. Creative Planning now owns 15,350 shares of the company's stock worth $212,000 after acquiring an additional 1,390 shares during the period. Finally, Wolff Wiese Magana LLC boosted its holdings in shares of Topgolf Callaway Brands by 87.8% in the third quarter. Wolff Wiese Magana LLC now owns 3,317 shares of the company's stock valued at $46,000 after acquiring an additional 1,551 shares in the last quarter. Institutional investors own 84.69% of the company's stock.

Topgolf Callaway Brands Stock Performance

MODG traded down $0.15 during trading on Monday, hitting $16.30. The stock had a trading volume of 1,545,981 shares, compared to its average volume of 2,754,655. The firm has a market cap of $2.99 billion, a PE ratio of 35.43, a P/E/G ratio of 1.76 and a beta of 1.87. The company has a current ratio of 1.72, a quick ratio of 0.88 and a debt-to-equity ratio of 0.39. Topgolf Callaway Brands Corp. has a 12 month low of $9.84 and a 12 month high of $23.01. The company has a 50 day simple moving average of $14.59 and a 200-day simple moving average of $13.68.

Topgolf Callaway Brands (NYSE:MODG - Get Free Report) last posted its quarterly earnings data on Tuesday, February 13th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.04. The business had revenue of $897.10 million during the quarter, compared to analysts' expectations of $867.25 million. Topgolf Callaway Brands had a return on equity of 2.39% and a net margin of 2.22%. The firm's revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.27) EPS. Analysts expect that Topgolf Callaway Brands Corp. will post 0.28 EPS for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on MODG. KeyCorp cut their target price on Topgolf Callaway Brands from $20.00 to $18.00 and set an "overweight" rating for the company in a research report on Wednesday, February 14th. Raymond James lifted their target price on Topgolf Callaway Brands from $14.00 to $16.00 and gave the company an "outperform" rating in a research note on Thursday, January 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Topgolf Callaway Brands presently has a consensus rating of "Hold" and a consensus target price of $18.90.

Insider Buying and Selling

In other news, Director Erik J. Anderson sold 5,000 shares of the business's stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $14.55, for a total transaction of $72,750.00. Following the transaction, the director now owns 777,959 shares in the company, valued at approximately $11,319,303.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Erik J. Anderson sold 2,028 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $14.79, for a total value of $29,994.12. Following the completion of the transaction, the director now owns 2,242 shares in the company, valued at approximately $33,159.18. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Erik J. Anderson sold 5,000 shares of Topgolf Callaway Brands stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $14.55, for a total transaction of $72,750.00. Following the sale, the director now owns 777,959 shares in the company, valued at $11,319,303.45. The disclosure for this sale can be found here. 11.97% of the stock is currently owned by insiders.

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.