Arrowstreet Capital Limited Partnership bought a new stake in shares of Topgolf Callaway Brands Corp. (NYSE:MODG - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 205,369 shares of the company's stock, valued at approximately $1,614,000. Arrowstreet Capital Limited Partnership owned approximately 0.11% of Topgolf Callaway Brands at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Asset Planning Inc purchased a new stake in shares of Topgolf Callaway Brands in the fourth quarter valued at about $33,000. KBC Group NV lifted its position in shares of Topgolf Callaway Brands by 81.8% during the 4th quarter. KBC Group NV now owns 8,330 shares of the company's stock worth $65,000 after buying an additional 3,749 shares in the last quarter. Xponance Inc. purchased a new position in shares of Topgolf Callaway Brands in the 4th quarter worth approximately $87,000. Cibc World Markets Corp bought a new position in shares of Topgolf Callaway Brands in the fourth quarter valued at approximately $104,000. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Topgolf Callaway Brands by 170.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 13,757 shares of the company's stock valued at $108,000 after acquiring an additional 8,672 shares in the last quarter. Institutional investors and hedge funds own 84.69% of the company's stock.
Topgolf Callaway Brands Price Performance
Shares of MODG stock traded down $0.10 during trading hours on Tuesday, reaching $6.22. The stock had a trading volume of 954,434 shares, compared to its average volume of 2,645,392. The stock's fifty day simple moving average is $6.60 and its 200 day simple moving average is $8.07. The company has a current ratio of 1.93, a quick ratio of 1.14 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $1.14 billion, a PE ratio of -77.74 and a beta of 1.47. Topgolf Callaway Brands Corp. has a 12 month low of $5.42 and a 12 month high of $16.89.
Topgolf Callaway Brands (NYSE:MODG - Get Free Report) last announced its earnings results on Monday, February 24th. The company reported ($0.33) earnings per share for the quarter, topping analysts' consensus estimates 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 business had revenue of $924.40 million for the quarter, compared to analyst estimates of $1.13 billion. On average, equities research analysts predict that Topgolf Callaway Brands Corp. will post 0.16 EPS for the current year.
Wall Street Analyst Weigh In
Several brokerages have commented on MODG. JPMorgan Chase & Co. lowered their price objective on shares of Topgolf Callaway Brands from $11.00 to $9.00 and set a "neutral" rating on the stock in a research report on Thursday, January 23rd. Jefferies Financial Group raised shares of Topgolf Callaway Brands from a "hold" rating to a "buy" rating and lifted their price target for the stock from $11.00 to $13.00 in a report on Thursday, January 2nd. Truist Financial reduced their price objective on Topgolf Callaway Brands from $12.00 to $7.00 and set a "buy" rating for the company in a report on Monday. Finally, Roth Mkm restated a "buy" rating and issued a $11.00 target price (down from $16.00) on shares of Topgolf Callaway Brands in a research note on Tuesday, February 25th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Topgolf Callaway Brands currently has a consensus rating of "Hold" and an average target price of $11.00.
Check Out Our Latest 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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