Trexquant Investment LP reduced its position in Topgolf Callaway Brands Corp. (NYSE:MODG - Free Report) by 47.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 213,557 shares of the company's stock after selling 192,449 shares during the period. Trexquant Investment LP owned approximately 0.12% of Topgolf Callaway Brands worth $1,679,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Topgolf Callaway Brands by 1.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 355,256 shares of the company's stock worth $3,901,000 after acquiring an additional 3,841 shares during the last quarter. MML Investors Services LLC raised its holdings in Topgolf Callaway Brands by 25.3% in the 3rd quarter. MML Investors Services LLC now owns 93,897 shares of the company's stock worth $1,031,000 after purchasing an additional 18,988 shares during the period. Geode Capital Management LLC lifted its position in Topgolf Callaway Brands by 0.7% during the third quarter. Geode Capital Management LLC now owns 3,255,232 shares of the company's stock valued at $35,749,000 after purchasing an additional 22,003 shares in the last quarter. Boyar Asset Management Inc. increased its position in Topgolf Callaway Brands by 17.5% in the third quarter. Boyar Asset Management Inc. now owns 104,540 shares of the company's stock worth $1,148,000 after buying an additional 15,532 shares in the last quarter. Finally, Tidal Investments LLC raised its stake in shares of Topgolf Callaway Brands by 35.7% in the third quarter. Tidal Investments LLC now owns 22,302 shares of the company's stock worth $245,000 after buying an additional 5,862 shares during the period. Institutional investors own 84.69% of the company's stock.
Topgolf Callaway Brands Price Performance
Shares of MODG stock traded down $0.03 during trading hours on Tuesday, hitting $6.30. The stock had a trading volume of 342,641 shares, compared to its average volume of 2,642,626. The stock's 50-day moving average price is $6.60 and its two-hundred day moving average price is $8.07. Topgolf Callaway Brands Corp. has a one year low of $5.42 and a one year high of $16.89. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of -78.55 and a beta of 1.47. 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 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. 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 analysts' expectations of $1.13 billion. Equities analysts forecast that Topgolf Callaway Brands Corp. will post 0.16 EPS for the current year.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on the company. Jefferies Financial Group upgraded Topgolf Callaway Brands from a "hold" rating to a "buy" rating and boosted their price objective for the company from $11.00 to $13.00 in a research note on Thursday, January 2nd. Truist Financial reduced their price objective on shares of Topgolf Callaway Brands from $12.00 to $7.00 and set a "buy" rating for the company in a research note on Monday. JPMorgan Chase & Co. lowered their target price on shares of Topgolf Callaway Brands from $11.00 to $9.00 and set a "neutral" rating on the stock in a research note on Thursday, January 23rd. Finally, Roth Mkm reiterated a "buy" rating and issued a $11.00 price target (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 issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $11.00.
View Our Latest Analysis on MODG
Topgolf Callaway Brands 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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