Sei Investments Co. Sells 60,337 Shares of Topgolf Callaway Brands Corp. (NYSE:MODG)

Sei Investments Co. cut its holdings in shares of Topgolf Callaway Brands Corp. (NYSE:MODG - Free Report) by 16.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 315,689 shares of the company's stock after selling 60,337 shares during the quarter. Sei Investments Co. owned 0.17% of Topgolf Callaway Brands worth $2,481,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its stake in Topgolf Callaway Brands by 8.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,995,667 shares of the company's stock worth $21,912,000 after purchasing an additional 148,451 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Topgolf Callaway Brands by 1.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 355,256 shares of the company's stock valued at $3,901,000 after acquiring an additional 3,841 shares during the last quarter. Edgestream Partners L.P. bought a new position in shares of Topgolf Callaway Brands in the third quarter worth about $417,000. Paloma Partners Management Co bought a new stake in shares of Topgolf Callaway Brands during the 3rd quarter valued at approximately $200,000. Finally, Holocene Advisors LP lifted its stake in shares of Topgolf Callaway Brands by 68.6% in the 3rd quarter. Holocene Advisors LP now owns 36,570 shares of the company's stock valued at $402,000 after acquiring an additional 14,885 shares during the last quarter. Institutional investors own 84.69% of the company's stock.

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Topgolf Callaway Brands Price Performance

Topgolf Callaway Brands stock traded up $0.25 during midday trading on Wednesday, hitting $5.82. 289,755 shares of the company's stock were exchanged, compared to its average volume of 2,599,481. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.14 and a current ratio of 1.93. The stock has a 50-day moving average price of $6.77 and a two-hundred day moving average price of $8.22. The company has a market cap of $1.07 billion, a P/E ratio of -72.33 and a beta of 1.47. Topgolf Callaway Brands Corp. has a 52-week low of $5.37 and a 52-week high of $16.89.

Topgolf Callaway Brands (NYSE:MODG - Get Free Report) last announced its quarterly earnings data on Monday, February 24th. The company reported ($0.33) EPS 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 firm had revenue of $924.40 million for the quarter, compared to analyst estimates of $1.13 billion. On average, equities research analysts forecast that Topgolf Callaway Brands Corp. will post 0.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MODG. Roth Mkm reiterated a "buy" rating and issued a $11.00 price objective (down previously from $16.00) on shares of Topgolf Callaway Brands in a report on Tuesday, February 25th. JPMorgan Chase & Co. decreased their price objective 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. Jefferies Financial Group upgraded shares of Topgolf Callaway Brands from a "hold" rating to a "buy" rating and increased their price objective for the stock from $11.00 to $13.00 in a research report on Thursday, January 2nd. Finally, Truist Financial dropped 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 report on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $13.91.

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.