Louisiana State Employees Retirement System Invests $1.02 Million in Topgolf Callaway Brands Corp. (NYSE:MODG)

Louisiana State Employees Retirement System bought a new stake in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 71,100 shares of the company’s stock, valued at approximately $1,020,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Wolff Wiese Magana LLC lifted its stake in Topgolf Callaway Brands by 87.8% in the third quarter. Wolff Wiese Magana LLC now owns 3,317 shares of the company’s stock worth $46,000 after acquiring an additional 1,551 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Topgolf Callaway Brands by 151.5% during the third quarter. PNC Financial Services Group Inc. now owns 7,241 shares of the company’s stock valued at $100,000 after purchasing an additional 4,362 shares in the last quarter. Ranch Capital Advisors Inc. purchased a new position in Topgolf Callaway Brands during the third quarter valued at approximately $140,000. Park Avenue Securities LLC bought a new position in Topgolf Callaway Brands in the third quarter worth approximately $150,000. Finally, Wealthfront Advisers LLC purchased a new stake in Topgolf Callaway Brands during the third quarter worth $150,000. 84.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Erik J. Anderson sold 5,000 shares of Topgolf Callaway Brands stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $14.55, for a total value of $72,750.00. Following the sale, the director now owns 777,959 shares in the company, valued at $11,319,303.45. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Erik J. Anderson sold 5,000 shares of Topgolf Callaway Brands stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $14.55, for a total value of $72,750.00. Following the sale, the director now directly owns 777,959 shares of the company’s stock, valued at $11,319,303.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Erik J. Anderson sold 2,028 shares of the 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 transaction, 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. 11.97% of the stock is owned by insiders.

Topgolf Callaway Brands Stock Performance

Shares of MODG stock opened at $16.18 on Thursday. The stock has a market cap of $2.97 billion, a PE ratio of 35.17, a price-to-earnings-growth ratio of 1.68 and a beta of 1.87. Topgolf Callaway Brands Corp. has a 52-week low of $9.84 and a 52-week high of $22.79. The business has a 50-day simple moving average of $15.14 and a 200-day simple moving average of $13.87. The company has a quick ratio of 0.88, a current ratio of 1.72 and a debt-to-equity ratio of 0.39.

Topgolf Callaway Brands (NYSE:MODG) last announced its quarterly earnings results on Tuesday, February 13th. The company reported ($0.30) earnings per share (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 firm had revenue of $897.10 million for the quarter, compared to the consensus estimate of $867.25 million. During the same period in the prior year, the firm posted ($0.27) earnings per share. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. On average, equities analysts expect that Topgolf Callaway Brands Corp. will post 0.29 EPS for the current year.

Wall Street Analyst Weigh In

MODG has been the topic of several analyst reports. Tigress Financial reiterated a “buy” rating and issued a $38.00 target price on shares of Topgolf Callaway Brands in a research note on Friday, April 12th. KeyCorp reduced their price objective 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. Finally, Raymond James increased their target price on shares of Topgolf Callaway Brands from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Thursday, January 4th. 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $20.64.

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.