Alliancebernstein L.P. increased its stake in shares of Topgolf Callaway Brands Corp. (NYSE:MODG - Free Report) by 97.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,152,565 shares of the company's stock after purchasing an additional 1,063,033 shares during the period. Alliancebernstein L.P. owned 1.17% of Topgolf Callaway Brands worth $16,919,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently bought and sold shares of MODG. Asset Planning Inc acquired a new stake in Topgolf Callaway Brands in the 4th quarter valued at about $33,000. KBC Group NV boosted its stake in Topgolf Callaway Brands by 81.8% during the fourth quarter. KBC Group NV now owns 8,330 shares of the company's stock worth $65,000 after buying an additional 3,749 shares during the last quarter. Xponance Inc. purchased a new stake in Topgolf Callaway Brands in the 4th quarter valued at $87,000. Cibc World Markets Corp acquired a new stake in shares of Topgolf Callaway Brands in the 4th quarter worth $104,000. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Topgolf Callaway Brands by 170.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 13,757 shares of the company's stock worth $108,000 after acquiring an additional 8,672 shares during the period. 84.69% of the stock is currently owned by institutional investors and hedge funds.
Topgolf Callaway Brands Stock Performance
Shares of MODG stock traded up $0.15 during mid-day trading on Monday, hitting $6.42. The stock had a trading volume of 241,106 shares, compared to its average volume of 2,643,067. The firm has a market cap of $1.18 billion, a PE ratio of -80.25 and a beta of 1.47. Topgolf Callaway Brands Corp. has a fifty-two week low of $5.42 and a fifty-two week high of $16.89. The company's 50-day simple moving average is $6.63 and its 200-day simple moving average is $8.10. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 1.14.
Topgolf Callaway Brands (NYSE:MODG - Get Free Report) last released its earnings results on Monday, February 24th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.07. Topgolf Callaway Brands had a positive return on equity of 1.20% and a negative net margin of 0.29%. The company had revenue of $924.40 million for the quarter, compared to analysts' expectations of $1.13 billion. Sell-side analysts anticipate that Topgolf Callaway Brands Corp. will post 0.16 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several equities research analysts recently issued reports on the stock. Roth Mkm restated a "buy" rating and set a $11.00 price objective (down from $16.00) on shares of Topgolf Callaway Brands in a research report on Tuesday, February 25th. Truist Financial cut their target price on Topgolf Callaway Brands from $12.00 to $7.00 and set a "buy" rating for the company in a research note on Monday. JPMorgan Chase & Co. lowered their price objective on shares of Topgolf Callaway Brands from $11.00 to $9.00 and set a "neutral" rating for the company in a research report on Thursday, January 23rd. Finally, Jefferies Financial Group raised shares of Topgolf Callaway Brands from a "hold" rating to a "buy" rating and raised their target price for the company from $11.00 to $13.00 in a report on Thursday, January 2nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, Topgolf Callaway Brands currently has an average rating of "Hold" and an average target price of $11.00.
Read Our Latest Stock Analysis on MODG
About Topgolf Callaway Brands
(
Free Report)
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.
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