TimesSquare Capital Management LLC Sells 378,490 Shares of Topgolf Callaway Brands Corp. (NYSE:MODG)

TimesSquare Capital Management LLC lowered its position in Topgolf Callaway Brands Corp. (NYSE:MODG - Free Report) by 22.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,305,745 shares of the company's stock after selling 378,490 shares during the period. TimesSquare Capital Management LLC owned approximately 0.71% of Topgolf Callaway Brands worth $18,724,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Topgolf Callaway Brands by 2.7% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 38,792 shares of the company's stock valued at $537,000 after purchasing an additional 1,010 shares in the last quarter. New York State Common Retirement Fund grew its position in Topgolf Callaway Brands by 0.9% during the 4th quarter. New York State Common Retirement Fund now owns 166,700 shares of the company's stock worth $2,390,000 after purchasing an additional 1,406 shares during the last quarter. Wolff Wiese Magana LLC lifted its stake in Topgolf Callaway Brands by 87.8% during the 3rd 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 during the period. Benjamin Edwards Inc. lifted its stake in shares of Topgolf Callaway Brands by 16.5% in the 4th quarter. Benjamin Edwards Inc. now owns 10,983 shares of the company's stock valued at $157,000 after purchasing an additional 1,555 shares during the period. Finally, Covestor Ltd lifted its stake in shares of Topgolf Callaway Brands by 10.1% in the 3rd quarter. Covestor Ltd now owns 17,677 shares of the company's stock valued at $245,000 after purchasing an additional 1,622 shares during the period. Hedge funds and other institutional investors own 84.69% of the company's stock.

Topgolf Callaway Brands Price Performance

Shares of NYSE:MODG traded down $0.18 during midday trading on Friday, hitting $15.08. 2,730,078 shares of the stock were exchanged, compared to its average volume of 2,489,895. The stock has a market cap of $2.77 billion, a P/E ratio of 33.15, a PEG ratio of 1.67 and a beta of 1.84. 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 twelve month low of $9.84 and a twelve month high of $20.75. The company has a 50 day moving average price of $15.49 and a 200-day moving average price of $14.08.

Topgolf Callaway Brands (NYSE:MODG - Get Free Report) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.01 by $0.08. Topgolf Callaway Brands had a return on equity of 2.39% and a net margin of 2.22%. The company had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.16 billion. During the same quarter in the previous year, the business earned $0.17 EPS. The firm's revenue was down 2.0% on a year-over-year basis. On average, research analysts forecast that Topgolf Callaway Brands Corp. will post 0.29 earnings per share for the current year.

Insider Transactions at Topgolf Callaway Brands

In related news, Director Erik J. Anderson sold 5,000 shares of the stock in a transaction dated Tuesday, February 20th. The stock was 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 directly owns 777,959 shares of the company's stock, valued at approximately $11,319,303.45. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 completion of the sale, the director now directly owns 2,242 shares in the company, valued at approximately $33,159.18. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Erik J. Anderson sold 5,000 shares of the business's stock in a transaction that occurred on Tuesday, February 20th. The stock was 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 of the company's stock, valued at $11,319,303.45. The disclosure for this sale can be found here. Company insiders own 2.49% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. KeyCorp decreased their target price on shares of Topgolf Callaway Brands from $20.00 to $18.00 and set an "overweight" rating for the company in a research note on Wednesday, February 14th. Tigress Financial reiterated a "buy" rating and issued a $38.00 target price on shares of Topgolf Callaway Brands in a research note on Friday, April 12th. B. Riley boosted their target price on shares of Topgolf Callaway Brands from $18.00 to $21.00 and gave the company a "buy" rating in a research note on Thursday, May 2nd. Finally, Truist Financial boosted their target price on shares of Topgolf Callaway Brands from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Monday, April 29th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $19.91.

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.