Topgolf Callaway Brands Corp. (NYSE:MODG) Shares Sold by Leeward Investments LLC MA

Leeward Investments LLC MA reduced its position in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) by 4.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 641,871 shares of the company’s stock after selling 26,460 shares during the period. Leeward Investments LLC MA owned about 0.35% of Topgolf Callaway Brands worth $9,204,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC acquired a new position in shares of Topgolf Callaway Brands during the fourth quarter worth $44,000. Wolff Wiese Magana LLC raised its holdings in Topgolf Callaway Brands by 87.8% in the third 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 in the last quarter. PNC Financial Services Group Inc. raised its holdings in Topgolf Callaway Brands by 151.5% in the third quarter. PNC Financial Services Group Inc. now owns 7,241 shares of the company’s stock valued at $100,000 after acquiring an additional 4,362 shares in the last quarter. Ranch Capital Advisors Inc. acquired a new stake in Topgolf Callaway Brands in the third quarter valued at $140,000. Finally, Park Avenue Securities LLC acquired a new stake in Topgolf Callaway Brands in the third quarter valued at $150,000. 84.69% of the stock is owned by institutional investors and hedge funds.

Topgolf Callaway Brands Price Performance

MODG traded up $0.13 on Friday, reaching $15.85. The company had a trading volume of 950,581 shares, compared to its average volume of 2,511,028. The company has a fifty day moving average of $15.18 and a 200-day moving average of $13.90. The company has a market capitalization of $2.91 billion, a P/E ratio of 34.46, a PEG ratio of 1.72 and a beta of 1.87. 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 one year low of $9.84 and a one year high of $22.79.

Topgolf Callaway Brands (NYSE:MODG) last announced its earnings results on Tuesday, February 13th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.04. The firm had revenue of $897.10 million during the quarter, compared to analyst estimates 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 quarter in the prior year, the firm posted ($0.27) EPS. As a group, equities research analysts anticipate that Topgolf Callaway Brands Corp. will post 0.29 earnings per share for the current year.

Insider Activity at Topgolf Callaway Brands

In other Topgolf Callaway Brands news, Director Erik J. Anderson sold 5,000 shares of the company’s stock in a transaction dated 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 directly owns 777,959 shares of the company’s stock, valued at approximately $11,319,303.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Topgolf Callaway Brands news, Director Erik J. Anderson sold 2,028 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $14.79, for a total value of $29,994.12. Following the completion of the sale, the director now directly owns 2,242 shares of the company’s stock, valued at approximately $33,159.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Erik J. Anderson sold 5,000 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $14.55, for a total transaction 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 $11,319,303.45. The disclosure for this sale can be found here. 11.97% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on MODG shares. KeyCorp cut their price target on shares of Topgolf Callaway Brands from $20.00 to $18.00 and set an “overweight” rating on the stock in a report on Wednesday, February 14th. Raymond James upped their price target on shares of Topgolf Callaway Brands from $14.00 to $16.00 and gave the company an “outperform” rating in a report on Thursday, January 4th. Finally, Tigress Financial reaffirmed a “buy” rating and issued a $38.00 price target on shares of Topgolf Callaway Brands in a report on Friday, April 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Topgolf Callaway Brands currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.64.

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.