Peregrine Capital Management LLC Reduces Stake in Topgolf Callaway Brands Corp. (NYSE:MODG)

Peregrine Capital Management LLC reduced its position in shares of Topgolf Callaway Brands Corp. (NYSE:MODG - Free Report) by 14.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 400,059 shares of the company's stock after selling 69,603 shares during the period. Peregrine Capital Management LLC owned approximately 0.22% of Topgolf Callaway Brands worth $5,737,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Topgolf Callaway Brands by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 13,557,515 shares of the company's stock worth $187,636,000 after purchasing an additional 116,267 shares during the last quarter. Shapiro Capital Management LLC lifted its holdings in Topgolf Callaway Brands by 651.6% during the 3rd quarter. Shapiro Capital Management LLC now owns 9,659,158 shares of the company's stock worth $133,683,000 after purchasing an additional 8,373,946 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Topgolf Callaway Brands by 3.5% during the 2nd quarter. Goldman Sachs Group Inc. now owns 4,918,317 shares of the company's stock worth $97,629,000 after purchasing an additional 167,973 shares during the last quarter. State Street Corp lifted its holdings in Topgolf Callaway Brands by 1.3% during the 2nd quarter. State Street Corp now owns 4,718,225 shares of the company's stock worth $93,657,000 after purchasing an additional 62,540 shares during the last quarter. Finally, Geode Capital Management LLC acquired a new stake in Topgolf Callaway Brands during the 1st quarter worth approximately $57,769,000. 84.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Erik J. Anderson sold 2,028 shares of the business's stock in a transaction on Friday, February 16th. The stock was sold at an average price of $14.79, for a total transaction of $29,994.12. Following the sale, 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 Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Erik J. Anderson sold 2,028 shares of the business's stock in a transaction on Friday, February 16th. The stock was sold at an average price of $14.79, for a total transaction of $29,994.12. Following the sale, 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 Securities & Exchange Commission, which is available at this hyperlink. Also, Director Erik J. Anderson sold 5,000 shares of the company's stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $14.55, for a total value of $72,750.00. Following the completion of the sale, the director now owns 777,959 shares in the company, valued at approximately $11,319,303.45. The disclosure for this sale can be found here. 11.97% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. KeyCorp dropped their price objective on Topgolf Callaway Brands from $20.00 to $18.00 and set an "overweight" rating for the company in a report on Wednesday, February 14th. Raymond James lifted their price objective on Topgolf Callaway Brands from $14.00 to $16.00 and gave the company an "outperform" rating in a report on Thursday, January 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $18.90.

Topgolf Callaway Brands Price Performance

Shares of Topgolf Callaway Brands stock traded up $0.09 during trading on Thursday, reaching $16.32. 1,053,559 shares of the company's stock were exchanged, compared to its average volume of 2,694,444. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.88 and a current ratio of 1.72. Topgolf Callaway Brands Corp. has a 1-year low of $9.84 and a 1-year high of $23.01. The company has a market cap of $3.00 billion, a P/E ratio of 35.47, a PEG ratio of 1.74 and a beta of 1.87. The firm's 50-day moving average price is $14.76 and its 200 day moving average price is $13.73.

Topgolf Callaway Brands (NYSE:MODG - Get Free Report) last posted its quarterly earnings results on Tuesday, February 13th. The company reported ($0.30) EPS for the quarter, topping analysts' consensus estimates of ($0.34) by $0.04. The company 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%. Topgolf Callaway Brands's revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.27) EPS. As a group, research analysts anticipate that Topgolf Callaway Brands Corp. will post 0.28 earnings per share for the current 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.