Grace & White Inc. NY Acquires 79,100 Shares of Topgolf Callaway Brands Corp. (NYSE:MODG)

Grace & White Inc. NY raised its holdings in Topgolf Callaway Brands Corp. (NYSE:MODG) by 13.5% in the 4th quarter, HoldingsChannel reports. The firm owned 663,594 shares of the company’s stock after purchasing an additional 79,100 shares during the quarter. Topgolf Callaway Brands accounts for approximately 1.7% of Grace & White Inc. NY’s portfolio, making the stock its 19th largest position. Grace & White Inc. NY’s holdings in Topgolf Callaway Brands were worth $9,516,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. GAMMA Investing LLC bought a new position in Topgolf Callaway Brands in the 4th quarter valued at $44,000. New York State Common Retirement Fund raised its position in shares of Topgolf Callaway Brands by 0.9% during the fourth quarter. New York State Common Retirement Fund now owns 166,700 shares of the company’s stock worth $2,390,000 after acquiring an additional 1,406 shares during the last quarter. Redmont Wealth Advisors LLC raised its position in shares of Topgolf Callaway Brands by 59.3% during the fourth quarter. Redmont Wealth Advisors LLC now owns 45,208 shares of the company’s stock worth $648,000 after acquiring an additional 16,828 shares during the last quarter. Cullen Investment Group LTD. bought a new stake in shares of Topgolf Callaway Brands during the fourth quarter worth $198,000. Finally, Louisiana State Employees Retirement System bought a new stake in shares of Topgolf Callaway Brands during the fourth quarter worth $1,020,000. Institutional investors own 84.69% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on MODG shares. Raymond James boosted their target price on Topgolf Callaway Brands from $14.00 to $16.00 and gave the stock an “outperform” rating in a research report on Thursday, January 4th. Tigress Financial reissued a “buy” rating and issued a $38.00 target price on shares of Topgolf Callaway Brands in a research note on Friday, April 12th. Finally, KeyCorp cut their price target on Topgolf Callaway Brands from $20.00 to $18.00 and set an “overweight” rating on the stock in a report on Wednesday, February 14th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Topgolf Callaway Brands presently has a consensus rating of “Moderate Buy” and an average target price of $20.64.

Insider Activity

In other news, Director Erik J. Anderson sold 2,028 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $14.79, for a total value of $29,994.12. Following the transaction, the director now owns 2,242 shares of the company’s stock, valued at $33,159.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Erik J. Anderson sold 5,000 shares of the stock in a transaction that occurred 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 sale, the director now owns 777,959 shares of the company’s stock, valued at $11,319,303.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Erik J. Anderson sold 2,028 shares of the firm’s stock in a transaction on 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 in the company, valued at approximately $33,159.18. The disclosure for this sale can be found here. 11.97% of the stock is owned by company insiders.

Topgolf Callaway Brands Stock Up 2.2 %

MODG traded up $0.35 on Tuesday, hitting $16.17. 1,228,428 shares of the company were exchanged, compared to its average volume of 2,560,108. Topgolf Callaway Brands Corp. has a 12 month low of $9.84 and a 12 month high of $22.97. The company has a market cap of $2.97 billion, a PE ratio of 34.70, a PEG ratio of 1.66 and a beta of 1.87. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.88 and a current ratio of 1.72. The stock’s fifty day moving average is $15.07 and its 200-day moving average is $13.83.

Topgolf Callaway Brands (NYSE:MODG) last released its earnings results on Tuesday, February 13th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.04. The business had revenue of $897.10 million for the quarter, compared to analyst estimates of $867.25 million. Topgolf Callaway Brands had a return on equity of 2.39% and a net margin of 2.22%. Topgolf Callaway Brands’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.27) earnings per share. Equities research analysts predict that Topgolf Callaway Brands Corp. will post 0.29 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. 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.