Topgolf Callaway Brands Corp. (NYSE:MODG) Position Cut by Duality Advisers LP

Duality Advisers LP trimmed its holdings in Topgolf Callaway Brands Corp. (NYSE:MODG) by 77.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,812 shares of the company’s stock after selling 58,608 shares during the quarter. Duality Advisers LP’s holdings in Topgolf Callaway Brands were worth $241,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wolff Wiese Magana LLC boosted 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 purchasing an additional 1,551 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Topgolf Callaway Brands by 151.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 7,241 shares of the company’s stock valued at $100,000 after purchasing an additional 4,362 shares in the last quarter. Ranch Capital Advisors Inc. bought a new position in Topgolf Callaway Brands during the 3rd quarter valued at $140,000. Park Avenue Securities LLC bought a new position in Topgolf Callaway Brands during the 3rd quarter valued at $150,000. Finally, Wealthfront Advisers LLC acquired a new stake in shares of Topgolf Callaway Brands during the 3rd quarter valued at $150,000. 84.69% of the stock is owned by institutional investors.

Topgolf Callaway Brands Trading Up 0.8 %

Topgolf Callaway Brands stock opened at $15.85 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.72 and a quick ratio of 0.88. The company has a market capitalization of $2.91 billion, a price-to-earnings ratio of 34.46, a PEG ratio of 1.72 and a beta of 1.87. Topgolf Callaway Brands Corp. has a one year low of $9.84 and a one year high of $22.79. The company’s fifty day moving average price is $15.18 and its two-hundred day moving average price is $13.90.

Topgolf Callaway Brands (NYSE:MODG) last posted its earnings results on Tuesday, February 13th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.04. The firm had revenue of $897.10 million for the quarter, compared to the consensus estimate of $867.25 million. Topgolf Callaway Brands had a net margin of 2.22% and a return on equity of 2.39%. The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the business posted ($0.27) earnings per share. On average, analysts forecast that Topgolf Callaway Brands Corp. will post 0.29 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Erik J. Anderson sold 5,000 shares of the firm’s 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 sale, the director now directly owns 777,959 shares of the company’s stock, valued at $11,319,303.45. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Erik J. Anderson sold 5,000 shares of the firm’s 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 sale, the director now directly owns 777,959 shares of the company’s stock, valued at $11,319,303.45. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Erik J. Anderson sold 2,028 shares of the stock in a transaction dated Friday, February 16th. The shares were 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 owns 2,242 shares of the company’s stock, valued at approximately $33,159.18. The disclosure for this sale can be found here. 11.97% of the stock is currently owned by company insiders.

Analyst Ratings Changes

MODG has been the subject of a number of recent research reports. KeyCorp cut their price objective 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. Tigress Financial reiterated a “buy” rating and set a $38.00 price objective on shares of Topgolf Callaway Brands in a research report on Friday, April 12th. Finally, Raymond James increased their price objective on Topgolf Callaway Brands from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Thursday, January 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Topgolf Callaway Brands currently has an average rating of “Moderate Buy” and a consensus target price of $20.64.

Topgolf Callaway Brands 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.