Mutual of America Capital Management LLC Decreases Stock Position in Topgolf Callaway Brands Corp. (NYSE:MODG)

Mutual of America Capital Management LLC decreased its holdings in Topgolf Callaway Brands Corp. (NYSE:MODG - Free Report) by 73.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,867 shares of the company's stock after selling 67,737 shares during the quarter. Mutual of America Capital Management LLC's holdings in Topgolf Callaway Brands were worth $357,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MODG. Wolff Wiese Magana LLC lifted its position in Topgolf Callaway Brands by 87.8% during the third quarter. Wolff Wiese Magana LLC now owns 3,317 shares of the company's stock valued at $46,000 after buying an additional 1,551 shares during the period. PNC Financial Services Group Inc. lifted its position in Topgolf Callaway Brands by 151.5% during the third quarter. PNC Financial Services Group Inc. now owns 7,241 shares of the company's stock valued at $100,000 after buying an additional 4,362 shares during the period. Ranch Capital Advisors Inc. purchased a new position in Topgolf Callaway Brands during the third quarter valued at $140,000. Park Avenue Securities LLC purchased a new position in Topgolf Callaway Brands during the third quarter valued at $150,000. Finally, Wealthfront Advisers LLC bought a new position in shares of Topgolf Callaway Brands during the third quarter valued at $150,000. Hedge funds and other institutional investors own 84.69% of the company's stock.

Insider Buying and Selling at Topgolf Callaway Brands

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

Topgolf Callaway Brands Stock Performance

NYSE MODG traded up $0.01 during trading hours on Wednesday, hitting $16.18. The company's stock had a trading volume of 1,451,629 shares, compared to its average volume of 2,546,076. Topgolf Callaway Brands Corp. has a 12 month low of $9.84 and a 12 month high of $22.79. The company's 50 day simple moving average is $15.12 and its two-hundred day simple moving average is $13.85. The company has a market cap of $2.97 billion, a P/E ratio of 35.15, a price-to-earnings-growth ratio of 1.68 and a beta of 1.87. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.72 and a quick ratio of 0.88.

Topgolf Callaway Brands (NYSE:MODG - Get Free Report) last released its quarterly earnings results on Tuesday, February 13th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.34) by $0.04. The business had revenue of $897.10 million during the quarter, compared to the consensus estimate of $867.25 million. Topgolf Callaway Brands had a return on equity of 2.39% and a net margin of 2.22%. The business's quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.27) EPS. As a group, sell-side analysts expect that Topgolf Callaway Brands Corp. will post 0.29 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on MODG shares. KeyCorp reduced their price target 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 raised their price target on Topgolf Callaway Brands from $14.00 to $16.00 and gave the company an "outperform" rating in a report on Thursday, January 4th. Finally, Tigress Financial restated a "buy" rating and set a $38.00 price target on shares of Topgolf Callaway Brands in a report on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, Topgolf Callaway Brands presently has a consensus rating of "Moderate Buy" and an average price target of $20.64.

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.