Jump Financial LLC Takes Position in Topgolf Callaway Brands Corp. (NYSE:MODG)

Jump Financial LLC bought a new stake in Topgolf Callaway Brands Corp. (NYSE:MODG - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 73,420 shares of the company's stock, valued at approximately $577,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC lifted its position in Topgolf Callaway Brands by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 3,255,232 shares of the company's stock worth $35,749,000 after acquiring an additional 22,003 shares during the period. Boyar Asset Management Inc. lifted its holdings in shares of Topgolf Callaway Brands by 17.5% during the third quarter. Boyar Asset Management Inc. now owns 104,540 shares of the company's stock worth $1,148,000 after purchasing an additional 15,532 shares during the period. Tidal Investments LLC grew its position in Topgolf Callaway Brands by 35.7% in the 3rd quarter. Tidal Investments LLC now owns 22,302 shares of the company's stock valued at $245,000 after buying an additional 5,862 shares during the last quarter. Sterneck Capital Management LLC grew its position in Topgolf Callaway Brands by 31.0% in the 4th quarter. Sterneck Capital Management LLC now owns 28,672 shares of the company's stock valued at $225,000 after buying an additional 6,786 shares during the last quarter. Finally, Harbor Capital Advisors Inc. increased its stake in Topgolf Callaway Brands by 14.7% in the 4th quarter. Harbor Capital Advisors Inc. now owns 1,886,496 shares of the company's stock valued at $14,828,000 after buying an additional 241,755 shares during the period. Hedge funds and other institutional investors own 84.69% of the company's stock.

Topgolf Callaway Brands Stock Performance

MODG opened at $6.62 on Thursday. Topgolf Callaway Brands Corp. has a 1-year low of $5.42 and a 1-year high of $16.89. The stock has a market cap of $1.22 billion, a P/E ratio of -82.74 and a beta of 1.47. The stock's 50 day simple moving average is $6.43 and its 200 day simple moving average is $7.90. 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 posted its earnings results on Monday, February 24th. The company reported ($0.33) earnings per share for the quarter, beating 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 analyst estimates of $1.13 billion. As a group, equities analysts anticipate that Topgolf Callaway Brands Corp. will post 0.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Roth Mkm reaffirmed a "buy" rating and issued a $11.00 target price (down previously from $16.00) on shares of Topgolf Callaway Brands in a report on Tuesday, February 25th. Jefferies Financial Group upgraded shares of Topgolf Callaway Brands from a "hold" rating to a "buy" rating and raised their price objective for the company from $11.00 to $13.00 in a research report on Thursday, January 2nd. Truist Financial dropped their target price on Topgolf Callaway Brands from $12.00 to $7.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, JPMorgan Chase & Co. reduced their price target 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. Two 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 has a consensus rating of "Hold" and an average target price of $11.00.

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.

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