Redmont Wealth Advisors LLC Purchases 16,828 Shares of Topgolf Callaway Brands Corp. (NYSE:MODG)

Redmont Wealth Advisors LLC raised its position in Topgolf Callaway Brands Corp. (NYSE:MODG) by 59.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 45,208 shares of the company’s stock after acquiring an additional 16,828 shares during the quarter. Redmont Wealth Advisors LLC’s holdings in Topgolf Callaway Brands were worth $648,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Tower Research Capital LLC TRC purchased a new position in shares of Topgolf Callaway Brands during the 1st quarter worth $76,000. LPL Financial LLC bought a new position in shares of Topgolf Callaway Brands in the first quarter worth about $842,000. Guggenheim Capital LLC purchased a new position in shares of Topgolf Callaway Brands during the 1st quarter valued at about $332,000. Commonwealth Equity Services LLC bought a new position in shares of Topgolf Callaway Brands during the 1st quarter valued at approximately $466,000. Finally, Envestnet Asset Management Inc. purchased a new stake in Topgolf Callaway Brands in the 1st quarter worth approximately $1,080,000. 84.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Topgolf Callaway Brands

In related news, Director Erik J. Anderson sold 2,028 shares of the firm’s stock in a transaction 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 completion of the sale, the director now directly owns 2,242 shares in the company, valued at $33,159.18. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Erik J. Anderson sold 5,000 shares of the firm’s 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Erik J. Anderson sold 2,028 shares of the business’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 transaction, the director now owns 2,242 shares of the company’s stock, valued at approximately $33,159.18. The disclosure for this sale can be found here. Company insiders own 11.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Tigress Financial reiterated a “buy” rating and issued a $38.00 price target on shares of Topgolf Callaway Brands in a research note on Friday, April 12th. KeyCorp cut their target price 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 target price on Topgolf Callaway Brands from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Thursday, January 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $20.64.

Topgolf Callaway Brands Price Performance

Shares of MODG traded up $0.10 during mid-day trading on Friday, hitting $15.51. 704,324 shares of the stock were exchanged, compared to its average volume of 2,588,142. 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 company has a market cap of $2.85 billion, a PE ratio of 33.50, a price-to-earnings-growth ratio of 1.67 and a beta of 1.87. Topgolf Callaway Brands Corp. has a 52-week low of $9.84 and a 52-week high of $23.01. The firm has a 50-day moving average of $15.00 and a two-hundred day moving average of $13.80.

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

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.