13,788 Shares in Topgolf Callaway Brands Corp. (NYSE:MODG) Bought by Cullen Investment Group LTD.

Cullen Investment Group LTD. purchased a new position in Topgolf Callaway Brands Corp. (NYSE:MODG) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 13,788 shares of the company’s stock, valued at approximately $198,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC purchased a new position in Topgolf Callaway Brands during the first quarter valued at $29,000. Advisory Services Network LLC purchased a new position in Topgolf Callaway Brands during the first quarter valued at $30,000. Wolff Wiese Magana LLC lifted its position in Topgolf Callaway Brands by 87.8% during the third quarter. Wolff Wiese Magana LLC now owns 3,317 shares of the company’s stock valued at $46,000 after buying an additional 1,551 shares during the period. Harbour Investments Inc. lifted its position in Topgolf Callaway Brands by 270,000.0% during the second quarter. Harbour Investments Inc. now owns 2,701 shares of the company’s stock valued at $54,000 after buying an additional 2,700 shares during the period. Finally, Advisors Asset Management Inc. purchased a new position in Topgolf Callaway Brands during the first quarter valued at $66,000. Hedge funds and other institutional investors own 84.69% of the company’s stock.

Topgolf Callaway Brands Stock Down 0.7 %

Shares of MODG opened at $15.59 on Wednesday. The stock has a market capitalization of $2.86 billion, a price-to-earnings ratio of 33.88, a price-to-earnings-growth ratio of 1.67 and a beta of 1.87. Topgolf Callaway Brands Corp. has a 1 year low of $9.84 and a 1 year high of $23.01. The business’s 50 day simple moving average is $14.91 and its 200-day simple moving average is $13.77. 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 (NYSE:MODG) last released its earnings results on Tuesday, February 13th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.04. Topgolf Callaway Brands had a return on equity of 2.39% and a net margin of 2.22%. The business had revenue of $897.10 million during the quarter, compared to the consensus estimate of $867.25 million. During the same period last year, the company earned ($0.27) earnings per share. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, equities analysts expect that Topgolf Callaway Brands Corp. will post 0.29 earnings per share for the current fiscal year.

Insider Transactions at Topgolf Callaway Brands

In other news, Director Erik J. Anderson sold 5,000 shares of the firm’s 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 transaction, the director now owns 777,959 shares in the company, valued at $11,319,303.45. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Topgolf Callaway Brands news, Director Erik J. Anderson sold 2,028 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was 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 owns 2,242 shares of the company’s stock, valued at $33,159.18. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Erik J. Anderson sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was 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 disclosure for this sale can be found here. Corporate insiders own 11.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on MODG shares. Tigress Financial reaffirmed a “buy” rating and issued a $38.00 price target on shares of Topgolf Callaway Brands in a research report on Friday, April 12th. KeyCorp lowered their price target 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. Finally, Raymond James lifted their price objective on Topgolf Callaway Brands from $14.00 to $16.00 and gave the stock an “outperform” rating in a report on Thursday, January 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Topgolf Callaway Brands presently has an average rating of “Moderate Buy” and an average price target of $20.64.

Topgolf Callaway Brands Company 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.