TimesSquare Capital Management LLC Has $18.72 Million Position in Topgolf Callaway Brands Corp. (NYSE:MODG)

TimesSquare Capital Management LLC lessened its stake in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) by 22.5% during the 4th quarter, HoldingsChannel reports. The firm owned 1,305,745 shares of the company’s stock after selling 378,490 shares during the quarter. TimesSquare Capital Management LLC’s holdings in Topgolf Callaway Brands were worth $18,724,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Topgolf Callaway Brands by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 13,557,515 shares of the company’s stock worth $187,636,000 after acquiring an additional 116,267 shares during the period. Shapiro Capital Management LLC raised its holdings in Topgolf Callaway Brands by 651.6% in the 3rd quarter. Shapiro Capital Management LLC now owns 9,659,158 shares of the company’s stock valued at $133,683,000 after acquiring an additional 8,373,946 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in 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 buying an additional 159,912 shares during the period. Kennedy Capital Management LLC lifted its stake in Topgolf Callaway Brands by 8.2% during the third quarter. Kennedy Capital Management LLC now owns 1,346,554 shares of the company’s stock worth $18,636,000 after purchasing an additional 102,325 shares during the period. Finally, Marlowe Partners LP boosted its stake in Topgolf Callaway Brands by 38.5% in the 3rd quarter. Marlowe Partners LP now owns 681,375 shares of the company’s stock valued at $9,430,000 after buying an additional 189,358 shares in the last quarter. Institutional investors own 84.69% of the company’s stock.

Analyst Ratings Changes

MODG has been the subject of several analyst reports. Truist Financial lifted their price target on shares of Topgolf Callaway Brands from $18.00 to $20.00 and gave the company a “buy” rating in a report on Monday, April 29th. 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 increased their price target on Topgolf Callaway Brands from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Finally, 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. 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 stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $19.91.

Insider Activity

In other news, Director Erik J. Anderson sold 5,000 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $14.55, for a total transaction of $72,750.00. Following the sale, 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 legal filing with the SEC, which is accessible through 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 sale, the director now directly owns 2,242 shares of the company’s stock, valued at $33,159.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Erik J. Anderson sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were 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 in the company, valued at $11,319,303.45. The disclosure for this sale can be found here. 2.49% of the stock is owned by company insiders.

Topgolf Callaway Brands Stock Up 0.5 %

Shares of Topgolf Callaway Brands stock traded up $0.07 on Friday, hitting $15.32. The company had a trading volume of 136,048 shares, compared to its average volume of 2,460,940. The stock has a 50-day moving average of $15.49 and a 200-day moving average of $14.08. 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 Corp. has a twelve month low of $9.84 and a twelve month high of $20.75. The firm has a market capitalization of $2.81 billion, a P/E ratio of 33.15, a P/E/G ratio of 1.67 and a beta of 1.84.

Topgolf Callaway Brands (NYSE:MODG) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.08. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.16 billion. Topgolf Callaway Brands had a return on equity of 2.39% and a net margin of 2.22%. The business’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 company earned $0.17 earnings per share. Research analysts predict that Topgolf Callaway Brands Corp. will post 0.29 earnings per share for the current year.

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.