Insider Buying: Topgolf Callaway Brands Corp. (NYSE:MODG) CAO Purchases $40,080.00 in Stock

Topgolf Callaway Brands Corp. (NYSE:MODG) CAO Jennifer L. Thomas acquired 4,000 shares of the stock in a transaction dated Friday, November 10th. The stock was acquired at an average cost of $10.02 per share, with a total value of $40,080.00. Following the transaction, the chief accounting officer now owns 64,521 shares of the company’s stock, valued at $646,500.42. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Topgolf Callaway Brands Trading Up 6.0 %

Shares of NYSE MODG opened at $11.88 on Thursday. Topgolf Callaway Brands Corp. has a 12-month low of $9.84 and a 12-month high of $25.96. The company has a current ratio of 1.76, a quick ratio of 0.95 and a debt-to-equity ratio of 0.39. The stock’s 50 day simple moving average is $13.55 and its 200 day simple moving average is $16.90. The company has a market cap of $2.19 billion, a price-to-earnings ratio of 24.23, a price-to-earnings-growth ratio of 1.83 and a beta of 1.83.

Topgolf Callaway Brands (NYSE:MODG) last released its quarterly earnings data on Wednesday, November 8th. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.09. Topgolf Callaway Brands had a net margin of 2.34% and a return on equity of 2.54%. The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter last year, the company earned $0.23 EPS. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. Equities research analysts expect that Topgolf Callaway Brands Corp. will post 0.39 EPS for the current year.

Wall Street Analysts Forecast Growth

MODG has been the subject of several recent analyst reports. JPMorgan Chase & Co. cut Topgolf Callaway Brands from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $23.00 to $13.00 in a report on Thursday, November 9th. B. Riley reaffirmed a “buy” rating and issued a $31.00 price objective on shares of Topgolf Callaway Brands in a research note on Thursday, September 28th. Compass Point cut their price objective on shares of Topgolf Callaway Brands from $34.00 to $31.00 and set a “buy” rating on the stock in a report on Monday, August 21st. Morgan Stanley reduced their price target on Topgolf Callaway Brands from $12.50 to $10.00 and set an “underweight” rating for the company in a report on Friday, November 10th. Finally, TheStreet lowered Topgolf Callaway Brands from a “c” rating to a “d+” rating in a research report on Wednesday, November 8th. One equities 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 company’s stock. Based on data from MarketBeat.com, Topgolf Callaway Brands has an average rating of “Moderate Buy” and a consensus price target of $20.64.

Institutional Trading of Topgolf Callaway Brands

Several institutional investors have recently modified their holdings of the company. Wolff Wiese Magana LLC raised its holdings in shares of Topgolf Callaway Brands by 82.1% in the 2nd quarter. Wolff Wiese Magana LLC now owns 1,766 shares of the company’s stock worth $35,000 after purchasing an additional 796 shares in the last quarter. Bessemer Group Inc. lifted its holdings in shares of Topgolf Callaway Brands by 24.5% during the second quarter. Bessemer Group Inc. now owns 4,613 shares of the company’s stock valued at $91,000 after purchasing an additional 908 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in shares of Topgolf Callaway Brands by 2.7% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 38,792 shares of the company’s stock valued at $537,000 after purchasing an additional 1,010 shares during the period. MetLife Investment Management LLC raised its holdings in Topgolf Callaway Brands by 0.7% during the 2nd quarter. MetLife Investment Management LLC now owns 156,589 shares of the company’s stock worth $3,108,000 after buying an additional 1,031 shares during the period. Finally, Steward Partners Investment Advisory LLC purchased a new stake in Topgolf Callaway Brands during the first quarter valued at about $29,000. Institutional investors and hedge funds own 82.13% of the company’s stock.

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.