Caxton Associates LLP Acquires New Holdings in Topgolf Callaway Brands Corp. $MODG

Caxton Associates LLP bought a new stake in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 192,814 shares of the company’s stock, valued at approximately $1,271,000. Caxton Associates LLP owned 0.10% of Topgolf Callaway Brands at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Dynamic Advisor Solutions LLC acquired a new position in Topgolf Callaway Brands during the 1st quarter valued at about $66,000. Capstone Financial Advisors Inc. acquired a new position in Topgolf Callaway Brands during the 1st quarter valued at about $66,000. Stifel Financial Corp acquired a new position in Topgolf Callaway Brands during the 4th quarter valued at about $83,000. Northwestern Mutual Wealth Management Co. increased its stake in Topgolf Callaway Brands by 52.0% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 10,636 shares of the company’s stock valued at $70,000 after buying an additional 3,640 shares during the period. Finally, Schwarz Dygos Wheeler Investment Advisors LLC acquired a new position in Topgolf Callaway Brands during the 1st quarter valued at about $73,000. Institutional investors and hedge funds own 84.69% of the company’s stock.

Insider Buying and Selling

In other news, Director Erik J. Anderson sold 25,704 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $9.25, for a total transaction of $237,762.00. Following the sale, the director owned 20,607 shares in the company, valued at $190,614.75. The trade was a 55.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Artie Starrs sold 106,734 shares of the business’s stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $8.64, for a total transaction of $922,181.76. Following the sale, the chief executive officer owned 105,823 shares in the company, valued at $914,310.72. This represents a 50.21% decrease in their position. The disclosure for this sale can be found here. 2.49% of the stock is owned by insiders.

Topgolf Callaway Brands Stock Down 3.1%

NYSE MODG opened at $9.15 on Wednesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.85 and a quick ratio of 1.25. The company’s 50 day simple moving average is $9.28 and its 200 day simple moving average is $7.63. Topgolf Callaway Brands Corp. has a 12 month low of $5.42 and a 12 month high of $11.28. The company has a market capitalization of $1.68 billion, a P/E ratio of -1.13 and a beta of 1.25.

Topgolf Callaway Brands (NYSE:MODG) last released its earnings results on Wednesday, August 6th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.21. Topgolf Callaway Brands had a negative net margin of 36.08% and a positive return on equity of 0.37%. The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the previous year, the firm earned $0.42 EPS. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. Equities research analysts expect that Topgolf Callaway Brands Corp. will post 0.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on MODG. Morgan Stanley began coverage on shares of Topgolf Callaway Brands in a research note on Friday, July 18th. They set an “equal weight” rating and a $9.50 target price on the stock. Wall Street Zen raised shares of Topgolf Callaway Brands from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Cfra reaffirmed a “hold” rating and issued a $9.00 price objective on shares of Topgolf Callaway Brands in a research note on Friday, July 11th. JPMorgan Chase & Co. dropped their target price on shares of Topgolf Callaway Brands from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Tuesday, May 27th. Finally, B. Riley reiterated a “neutral” rating and issued a $9.50 target price (up from $7.00) on shares of Topgolf Callaway Brands in a report on Monday, August 11th. Three equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, Topgolf Callaway Brands presently has a consensus rating of “Hold” and an average price target of $10.00.

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.