Rice Hall James & Associates LLC Takes Position in Topgolf Callaway Brands Corp. (NYSE:MODG)

Rice Hall James & Associates LLC purchased a new stake in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 108,490 shares of the company’s stock, valued at approximately $2,346,000. Rice Hall James & Associates LLC owned 0.06% of Topgolf Callaway Brands as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in MODG. International Assets Investment Management LLC acquired a new stake in shares of Topgolf Callaway Brands during the first quarter valued at about $26,000. CWM LLC acquired a new stake in Topgolf Callaway Brands in the 1st quarter valued at approximately $32,000. Benjamin Edwards Inc. purchased a new stake in Topgolf Callaway Brands in the first quarter valued at approximately $44,000. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new position in Topgolf Callaway Brands during the first quarter worth $45,000. Finally, Ameritas Advisory Services LLC purchased a new position in shares of Topgolf Callaway Brands during the first quarter worth $46,000. 82.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Topgolf Callaway Brands

In other news, Director Erik J. Anderson sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $17.51, for a total transaction of $262,650.00. Following the completion of the sale, the director now owns 847,959 shares in the company, valued at approximately $14,847,762.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Erik J. Anderson sold 15,000 shares of Topgolf Callaway Brands stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $17.51, for a total transaction of $262,650.00. Following the sale, the director now owns 847,959 shares in the company, valued at $14,847,762.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Oliver G. Brewer III bought 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 25th. The stock was purchased at an average cost of $16.21 per share, with a total value of $162,100.00. Following the completion of the transaction, the chief executive officer now owns 847,556 shares in the company, valued at $13,738,882.76. The disclosure for this purchase can be found here. Insiders sold 30,000 shares of company stock valued at $510,600 over the last three months. 11.97% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on MODG shares. Compass Point decreased their target price on Topgolf Callaway Brands from $34.00 to $31.00 and set a “buy” rating on the stock in a research note on Monday, August 21st. Bank of America lowered their price objective on shares of Topgolf Callaway Brands from $32.00 to $26.00 in a research note on Wednesday, August 9th. The Goldman Sachs Group cut their target price on shares of Topgolf Callaway Brands from $29.00 to $20.00 and set a “neutral” rating on the stock in a research note on Friday, August 11th. Stephens decreased their price target on shares of Topgolf Callaway Brands from $33.00 to $26.00 and set an “overweight” rating for the company in a research report on Wednesday, August 9th. Finally, Truist Financial cut their price objective on Topgolf Callaway Brands from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, August 9th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $28.11.

Topgolf Callaway Brands Price Performance

Shares of MODG opened at $17.35 on Thursday. The firm has a market capitalization of $3.22 billion, a price-to-earnings ratio of 32.74, a PEG ratio of 1.85 and a beta of 1.77. The firm’s fifty day simple moving average is $18.68 and its 200-day simple moving average is $20.16. Topgolf Callaway Brands Corp. has a twelve month low of $16.13 and a twelve month high of $25.96. The company has a current ratio of 1.78, a quick ratio of 0.88 and a debt-to-equity ratio of 0.39.

Topgolf Callaway Brands (NYSE:MODG) last posted its quarterly earnings results on Tuesday, August 8th. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.06. The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Topgolf Callaway Brands had a return on equity of 2.74% and a net margin of 2.58%. Equities analysts forecast that Topgolf Callaway Brands Corp. will post 0.66 EPS for the current fiscal year.

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. It operates through three segments: Topgolf; Golf Equipment; and Active Lifestyle. 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.