Cullen Investment Group LTD. Acquires New Position in Topgolf Callaway Brands Corp. (NYSE:MODG)

Cullen Investment Group LTD. acquired a new stake in Topgolf Callaway Brands Corp. (NYSE:MODG) in the fourth quarter, Holdings Channel reports. The firm acquired 13,788 shares of the company’s stock, valued at approximately $198,000.

Other institutional investors have also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC purchased a new position in Topgolf Callaway Brands in the first quarter worth approximately $29,000. Advisory Services Network LLC purchased a new stake in shares of Topgolf Callaway Brands during the 1st quarter worth approximately $30,000. Wolff Wiese Magana LLC lifted its position in shares of Topgolf Callaway Brands by 87.8% during the 3rd quarter. Wolff Wiese Magana LLC now owns 3,317 shares of the company’s stock worth $46,000 after buying an additional 1,551 shares during the last quarter. Harbour Investments Inc. lifted its position in shares of Topgolf Callaway Brands by 270,000.0% during the 2nd quarter. Harbour Investments Inc. now owns 2,701 shares of the company’s stock worth $54,000 after buying an additional 2,700 shares during the last quarter. Finally, Advisors Asset Management Inc. purchased a new stake in shares of Topgolf Callaway Brands during the 1st quarter worth approximately $66,000. Institutional investors and hedge funds own 84.69% of the company’s stock.

Insider Buying and Selling at Topgolf Callaway Brands

In other news, Director Erik J. Anderson sold 5,000 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $14.55, for a total transaction of $72,750.00. Following the transaction, the director now directly owns 777,959 shares of the company’s stock, valued at approximately $11,319,303.45. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Erik J. Anderson sold 5,000 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $14.55, for a total transaction of $72,750.00. Following the transaction, the director now directly owns 777,959 shares of the company’s stock, valued at approximately $11,319,303.45. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Erik J. Anderson sold 2,028 shares of the company’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 transaction, the director now directly owns 2,242 shares in the company, valued at $33,159.18. The disclosure for this sale can be found here. 11.97% of the stock is currently owned by corporate insiders.

Topgolf Callaway Brands Stock Performance

Shares of MODG opened at $15.59 on Wednesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.88 and a current ratio of 1.72. The stock has a market capitalization of $2.86 billion, a P/E ratio of 33.88, a P/E/G ratio of 1.67 and a beta of 1.87. The company’s fifty day moving average is $14.91 and its two-hundred day moving average is $13.77. Topgolf Callaway Brands Corp. has a 1 year low of $9.84 and a 1 year high of $23.01.

Topgolf Callaway Brands (NYSE:MODG) last announced its quarterly earnings data on Tuesday, February 13th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.04. The company had revenue of $897.10 million for the quarter, compared to analysts’ expectations of $867.25 million. Topgolf Callaway Brands had a net margin of 2.22% and a return on equity of 2.39%. Topgolf Callaway Brands’s 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. On average, sell-side analysts predict that Topgolf Callaway Brands Corp. will post 0.29 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. KeyCorp reduced their price objective on shares of 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. Raymond James boosted their price objective on shares of Topgolf Callaway Brands from $14.00 to $16.00 and gave the stock an “outperform” rating in a research report on Thursday, January 4th. Finally, Tigress Financial restated a “buy” rating and set a $38.00 price objective on shares of Topgolf Callaway Brands in a research report on Friday, April 12th. One 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $20.64.

Topgolf Callaway Brands Company 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.