Picton Mahoney Asset Management Purchases Shares of 29,274 Topgolf Callaway Brands Corp. (NYSE:MODG)

Picton Mahoney Asset Management bought a new stake in Topgolf Callaway Brands Corp. (NYSE:MODG) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 29,274 shares of the company’s stock, valued at approximately $419,000.

Several other hedge funds also recently modified their holdings of MODG. Vanguard Group Inc. lifted its stake in shares of Topgolf Callaway Brands by 0.9% during the third quarter. Vanguard Group Inc. now owns 13,557,515 shares of the company’s stock valued at $187,636,000 after buying an additional 116,267 shares during the period. Shapiro Capital Management LLC raised its holdings in Topgolf Callaway Brands by 651.6% in the 3rd quarter. Shapiro Capital Management LLC now owns 9,659,158 shares of the company’s stock valued at $133,683,000 after acquiring an additional 8,373,946 shares during the last quarter. TimesSquare Capital Management LLC lifted its stake in shares of Topgolf Callaway Brands by 0.7% during the 3rd quarter. TimesSquare Capital Management LLC now owns 1,684,235 shares of the company’s stock worth $23,310,000 after purchasing an additional 11,505 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Topgolf Callaway Brands by 11.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,577,637 shares of the company’s stock worth $22,623,000 after purchasing an additional 159,912 shares during the last quarter. Finally, Kennedy Capital Management LLC grew its position in shares of Topgolf Callaway Brands by 8.2% in the third quarter. Kennedy Capital Management LLC now owns 1,346,554 shares of the company’s stock valued at $18,636,000 after purchasing an additional 102,325 shares during the period. 84.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Erik J. Anderson sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $14.55, for a total transaction of $72,750.00. Following the completion of the sale, the director now owns 777,959 shares of the company’s stock, valued at $11,319,303.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Erik J. Anderson sold 5,000 shares of Topgolf Callaway Brands 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 transaction, the director now directly owns 777,959 shares in the company, valued at $11,319,303.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Erik J. Anderson sold 2,028 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $33,159.18. The disclosure for this sale can be found here. Insiders own 2.49% of the company’s stock.

Analyst Upgrades and Downgrades

MODG has been the topic of several recent analyst reports. B. Riley increased their target price on Topgolf Callaway Brands from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Truist Financial raised their target price on shares of Topgolf Callaway Brands from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. Tigress Financial reaffirmed a “buy” rating and set a $38.00 price target on shares of Topgolf Callaway Brands in a research report on Friday, April 12th. Finally, KeyCorp decreased their price target on shares of 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 equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $19.91.

Topgolf Callaway Brands Price Performance

Topgolf Callaway Brands stock opened at $16.36 on Thursday. The company has a quick ratio of 0.88, a current ratio of 1.72 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $3.00 billion, a P/E ratio of 35.57, a PEG ratio of 1.67 and a beta of 1.84. The firm has a fifty day moving average of $15.47 and a 200-day moving average of $14.07. Topgolf Callaway Brands Corp. has a 52-week low of $9.84 and a 52-week high of $21.86.

Topgolf Callaway Brands (NYSE:MODG) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.01 by $0.08. Topgolf Callaway Brands had a return on equity of 2.39% and a net margin of 2.22%. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the company posted $0.17 EPS. Topgolf Callaway Brands’s revenue for the quarter was down 2.0% on a year-over-year basis. As a group, analysts predict that Topgolf Callaway Brands Corp. will post 0.29 EPS for the current 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.