Polymer Capital Management US LLC acquired a new position 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 fund acquired 50,066 shares of the company's stock, valued at approximately $394,000.
A number of other hedge funds also recently bought and sold shares of MODG. Alliancebernstein L.P. increased its holdings in Topgolf Callaway Brands by 97.6% in the fourth quarter. Alliancebernstein L.P. now owns 2,152,565 shares of the company's stock worth $16,919,000 after buying an additional 1,063,033 shares during the last quarter. ExodusPoint Capital Management LP bought a new position in shares of Topgolf Callaway Brands during the 4th quarter valued at $4,769,000. Requisite Capital Management LLC acquired a new stake in shares of Topgolf Callaway Brands in the 4th quarter valued at $2,426,000. Charles Schwab Investment Management Inc. boosted its holdings in Topgolf Callaway Brands by 14.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,286,719 shares of the company's stock worth $17,974,000 after purchasing an additional 291,052 shares in the last quarter. Finally, Harbor Capital Advisors Inc. increased its position in Topgolf Callaway Brands by 14.7% during the fourth quarter. Harbor Capital Advisors Inc. now owns 1,886,496 shares of the company's stock worth $14,828,000 after buying an additional 241,755 shares during the last quarter. 84.69% of the stock is owned by hedge funds and other institutional investors.
Topgolf Callaway Brands Stock Down 0.5 %
Shares of MODG traded down $0.03 on Friday, hitting $6.24. The company's stock had a trading volume of 4,209,636 shares, compared to its average volume of 2,652,203. 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 firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of -77.98 and a beta of 1.47. The firm's fifty day moving average price is $6.63 and its 200-day moving average price is $8.10. Topgolf Callaway Brands Corp. has a fifty-two week low of $5.42 and a fifty-two week high of $16.89.
Topgolf Callaway Brands (NYSE:MODG - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $924.40 million during the quarter, compared to the consensus estimate of $1.13 billion. Topgolf Callaway Brands had a negative net margin of 0.29% and a positive return on equity of 1.20%. On average, equities research analysts expect that Topgolf Callaway Brands Corp. will post 0.16 EPS for the current year.
Analyst Ratings Changes
MODG has been the topic of several analyst reports. Jefferies Financial Group upgraded Topgolf Callaway Brands from a "hold" rating to a "buy" rating and increased their price target for the company from $11.00 to $13.00 in a report on Thursday, January 2nd. Truist Financial cut their target price on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a "buy" rating for the company in a research report on Tuesday, January 7th. Roth Mkm reaffirmed a "buy" rating and issued a $11.00 price target (down from $16.00) on shares of Topgolf Callaway Brands in a research report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. cut their price objective on 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. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $11.50.
Check Out Our Latest Report on MODG
Topgolf Callaway Brands Company Profile
(
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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