ExodusPoint Capital Management LP bought a new position in shares of Topgolf Callaway Brands Corp. (NYSE:MODG - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 606,800 shares of the company's stock, valued at approximately $4,769,000. ExodusPoint Capital Management LP owned about 0.33% of Topgolf Callaway Brands as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MODG. Asset Planning Inc purchased a new position in shares of Topgolf Callaway Brands during the 4th quarter worth $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 period. Xponance Inc. acquired a new stake in shares of Topgolf Callaway Brands during the fourth quarter valued at about $87,000. Cibc World Markets Corp acquired a new stake in shares of Topgolf Callaway Brands during the fourth quarter valued at about $104,000. Finally, PNC Financial Services Group Inc. raised its stake in shares of Topgolf Callaway Brands by 170.5% in the 4th 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 during the period. Hedge funds and other institutional investors own 84.69% of the company's stock.
Topgolf Callaway Brands Stock Down 0.5 %
NYSE MODG traded down $0.03 on Friday, hitting $6.24. 4,209,636 shares of the stock were exchanged, compared to its average volume of 2,647,361. Topgolf Callaway Brands Corp. has a fifty-two week low of $5.42 and a fifty-two week high of $16.89. The company has a 50-day moving average price of $6.63 and a 200-day moving average price of $8.12. The company has a quick ratio of 1.14, a current ratio of 1.93 and a debt-to-equity ratio of 0.37. The company has a market cap of $1.15 billion, a PE ratio of -77.98 and a beta of 1.47.
Topgolf Callaway Brands (NYSE:MODG - Get Free Report) last issued its earnings results on Monday, February 24th. The company reported ($0.33) EPS for the quarter, topping analysts' consensus estimates of ($0.40) by $0.07. Topgolf Callaway Brands had a negative net margin of 0.29% and a positive return on equity of 1.20%. The firm had revenue of $924.40 million during the quarter, compared to the consensus estimate of $1.13 billion. Sell-side analysts anticipate that Topgolf Callaway Brands Corp. will post 0.16 EPS for the current fiscal year.
Analyst Ratings Changes
A number of research analysts have commented on MODG shares. Jefferies Financial Group upgraded Topgolf Callaway Brands from a "hold" rating to a "buy" rating and upped their price target for the stock from $11.00 to $13.00 in a research note on Thursday, January 2nd. JPMorgan Chase & Co. lowered their target price on Topgolf Callaway Brands from $11.00 to $9.00 and set a "neutral" rating for the company in a report on Thursday, January 23rd. Truist Financial cut their price target on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a "buy" rating on the stock in a research note on Tuesday, January 7th. Finally, Roth Mkm reissued a "buy" rating and issued a $11.00 price objective (down previously from $16.00) on shares of Topgolf Callaway Brands in a research note on Tuesday, February 25th. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $13.91.
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About Topgolf Callaway Brands
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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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