Redmont Wealth Advisors LLC Acquires 3,751 Shares of Topgolf Callaway Brands Corp. (NYSE:MODG)

Redmont Wealth Advisors LLC raised its holdings in Topgolf Callaway Brands Corp. (NYSE:MODG) by 8.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 48,959 shares of the company’s stock after buying an additional 3,751 shares during the period. Topgolf Callaway Brands accounts for about 1.1% of Redmont Wealth Advisors LLC’s portfolio, making the stock its 27th largest holding. Redmont Wealth Advisors LLC’s holdings in Topgolf Callaway Brands were worth $792,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Topgolf Callaway Brands by 13.6% during the fourth quarter. Vanguard Group Inc. now owns 15,403,379 shares of the company’s stock worth $220,884,000 after buying an additional 1,845,864 shares during the last quarter. TimesSquare Capital Management LLC increased its stake in shares of Topgolf Callaway Brands by 0.7% during the 3rd quarter. TimesSquare Capital Management LLC now owns 1,684,235 shares of the company’s stock worth $23,310,000 after purchasing an additional 11,505 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Topgolf Callaway Brands by 11.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,577,637 shares of the company’s stock valued at $22,623,000 after purchasing an additional 159,912 shares during the period. Kennedy Capital Management LLC lifted its stake in Topgolf Callaway Brands by 8.2% in the 3rd quarter. Kennedy Capital Management LLC now owns 1,346,554 shares of the company’s stock valued at $18,636,000 after purchasing an additional 102,325 shares during the last quarter. Finally, Granahan Investment Management LLC grew its holdings in Topgolf Callaway Brands by 1.5% during the fourth quarter. Granahan Investment Management LLC now owns 1,117,187 shares of the company’s stock worth $16,020,000 after purchasing an additional 16,299 shares during the period. 84.69% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Tigress Financial restated a “buy” rating and set a $38.00 target price on shares of Topgolf Callaway Brands in a research note on Friday, April 12th. Truist Financial boosted their price objective on Topgolf Callaway Brands from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, April 29th. B. Riley increased their target price on Topgolf Callaway Brands from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Finally, TD Cowen lifted their price target on Topgolf Callaway Brands from $10.00 to $13.00 and gave the stock a “hold” rating in a report on Monday, May 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $19.33.

Topgolf Callaway Brands Trading Up 0.7 %

NYSE MODG traded up $0.10 during trading hours on Wednesday, reaching $15.00. The company’s stock had a trading volume of 568,182 shares, compared to its average volume of 2,263,070. The firm has a fifty day simple moving average of $15.42 and a 200-day simple moving average of $14.88. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.82 and a quick ratio of 1.02. Topgolf Callaway Brands Corp. has a 52 week low of $9.84 and a 52 week high of $20.75. The stock has a market cap of $2.75 billion, a P/E ratio of 40.54, a P/E/G ratio of 2.53 and a beta of 1.77.

Topgolf Callaway Brands (NYSE:MODG) last released its earnings results on Wednesday, May 8th. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.08. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.16 billion. Topgolf Callaway Brands had a net margin of 1.80% and a return on equity of 1.93%. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.17 EPS. Equities analysts forecast that Topgolf Callaway Brands Corp. will post 0.34 earnings per share for the current fiscal year.

Insider Transactions at Topgolf Callaway Brands

In other news, Director Erik J. Anderson sold 10,000 shares of Topgolf Callaway Brands stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $15.19, for a total transaction of $151,900.00. Following the completion of the transaction, the director now directly owns 767,959 shares in the company, valued at $11,665,297.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Topgolf Callaway Brands news, Director Erik J. Anderson sold 7,500 shares of Topgolf Callaway Brands stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $15.37, for a total transaction of $115,275.00. Following the transaction, the director now directly owns 760,459 shares of the company’s stock, valued at approximately $11,688,254.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Erik J. Anderson sold 10,000 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $15.19, for a total transaction of $151,900.00. Following the completion of the sale, the director now owns 767,959 shares of the company’s stock, valued at approximately $11,665,297.21. The disclosure for this sale can be found here. 2.49% of the stock is 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.