Marlowe Partners LP Buys New Shares in Topgolf Callaway Brands Corp. (NYSE:MODG)

Marlowe Partners LP purchased a new position in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 604,111 shares of the company’s stock, valued at approximately $13,061,000. Topgolf Callaway Brands makes up about 17.7% of Marlowe Partners LP’s portfolio, making the stock its 3rd biggest holding. Marlowe Partners LP owned 0.33% of Topgolf Callaway Brands at the end of the most recent reporting period.

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

Topgolf Callaway Brands Price Performance

NYSE:MODG traded up $0.10 on Friday, hitting $16.53. The company had a trading volume of 377,915 shares, compared to its average volume of 2,086,822. Topgolf Callaway Brands Corp. has a 52 week low of $16.13 and a 52 week 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. The stock has a market capitalization of $3.07 billion, a price-to-earnings ratio of 31.00, a PEG ratio of 1.88 and a beta of 1.77. The firm has a 50 day moving average of $18.46 and a two-hundred day moving average of $19.92.

Topgolf Callaway Brands (NYSE:MODG) last announced its quarterly earnings results on Tuesday, August 8th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.06. Topgolf Callaway Brands had a net margin of 2.58% and a return on equity of 2.74%. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.19 billion. On average, research analysts anticipate that Topgolf Callaway Brands Corp. will post 0.66 earnings per share for the current year.

Insider Activity

In related news, Director Erik J. Anderson sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $17.01, for a total value of $85,050.00. Following the completion of the transaction, the director now owns 842,959 shares in the company, valued at approximately $14,338,732.59. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Erik J. Anderson sold 5,000 shares of the stock in a transaction on Monday, August 14th. The stock was sold at an average price of $17.01, for a total value of $85,050.00. Following the completion of the sale, the director now directly owns 842,959 shares in the company, valued at $14,338,732.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Oliver G. Brewer III bought 10,000 shares of the business’s stock in a transaction on Friday, August 25th. The shares were bought at an average cost of $16.21 per share, for a total transaction of $162,100.00. Following the completion of the acquisition, the chief executive officer now directly owns 847,556 shares in the company, valued at approximately $13,738,882.76. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 30,000 shares of company stock valued at $510,600. 11.97% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

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.