GW&K Investment Management LLC Reduces Position in Topgolf Callaway Brands Corp. (NYSE:MODG)

GW&K Investment Management LLC reduced its holdings in Topgolf Callaway Brands Corp. (NYSE:MODG) by 2.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 153,579 shares of the company’s stock after selling 3,400 shares during the period. GW&K Investment Management LLC owned approximately 0.08% of Topgolf Callaway Brands worth $2,202,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of MODG. Shapiro Capital Management LLC grew its stake in shares of 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 buying an additional 8,373,946 shares during the period. Norges Bank purchased a new stake in Topgolf Callaway Brands in the fourth quarter valued at $10,467,000. Assenagon Asset Management S.A. acquired a new position in shares of Topgolf Callaway Brands in the 4th quarter valued at $9,412,000. First Dallas Securities Inc. grew its holdings in shares of Topgolf Callaway Brands by 1,004.7% during the 3rd quarter. First Dallas Securities Inc. now owns 611,466 shares of the company’s stock worth $8,463,000 after purchasing an additional 556,116 shares during the period. Finally, Motley Fool Wealth Management LLC purchased a new stake in Topgolf Callaway Brands in the 4th quarter valued at about $6,659,000. Hedge funds and other institutional investors own 84.69% of the company’s stock.

Topgolf Callaway Brands Price Performance

Shares of MODG opened at $14.83 on Thursday. The firm has a market capitalization of $2.72 billion, a price-to-earnings ratio of 40.08, a PEG ratio of 2.48 and a beta of 1.84. The firm’s fifty day simple moving average is $15.69 and its 200-day simple moving average is $14.25. Topgolf Callaway Brands Corp. has a twelve month low of $9.84 and a twelve month high of $20.75. The company has a current ratio of 1.82, a quick ratio of 1.02 and a debt-to-equity ratio of 0.39.

Topgolf Callaway Brands (NYSE:MODG) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.08. The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Topgolf Callaway Brands had a return on equity of 1.93% and a net margin of 1.80%. Topgolf Callaway Brands’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period last year, the firm earned $0.17 earnings per share. Equities analysts forecast that Topgolf Callaway Brands Corp. will post 0.34 EPS for the current fiscal year.

Insider Transactions at Topgolf Callaway Brands

In related news, Director Erik J. Anderson sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $15.19, for a total value of $151,900.00. Following the completion of the transaction, the director now directly owns 767,959 shares of the company’s stock, valued at $11,665,297.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Erik J. Anderson sold 10,000 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $15.19, for a total value of $151,900.00. Following the completion of the sale, the director now directly owns 767,959 shares of the company’s stock, valued at $11,665,297.21. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Erik J. Anderson sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $15.37, for a total value of $115,275.00. Following the transaction, the director now directly owns 760,459 shares in the company, valued at approximately $11,688,254.83. The disclosure for this sale can be found here. Corporate insiders own 2.49% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on MODG. KeyCorp lowered their target price on shares of Topgolf Callaway Brands from $20.00 to $18.00 and set an “overweight” rating for the company in a research note on Wednesday, February 14th. B. Riley upped their price target on Topgolf Callaway Brands from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. TD Cowen lifted their price objective on Topgolf Callaway Brands from $10.00 to $13.00 and gave the company a “hold” rating in a research note on Monday, May 13th. Tigress Financial reissued a “buy” rating and set a $38.00 target price on shares of Topgolf Callaway Brands in a research note on Friday, April 12th. Finally, Truist Financial lifted their target price on Topgolf Callaway Brands from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, April 29th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $19.33.

Topgolf Callaway Brands 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.