Lombard Odier Asset Management USA Corp Invests $610,000 in Topgolf Callaway Brands Corp. (NYSE:MODG)

Lombard Odier Asset Management USA Corp bought a new position in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 39,852 shares of the company’s stock, valued at approximately $610,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Fifth Third Bancorp lifted its position in shares of Topgolf Callaway Brands by 327.6% during the 2nd quarter. Fifth Third Bancorp now owns 2,527 shares of the company’s stock worth $39,000 after buying an additional 1,936 shares during the last quarter. Dnca Finance purchased a new stake in Topgolf Callaway Brands in the second quarter valued at $134,000. Caas Capital Management LP acquired a new position in Topgolf Callaway Brands in the fourth quarter valued at $148,000. Koss Olinger Consulting LLC purchased a new position in shares of Topgolf Callaway Brands during the second quarter worth about $160,000. Finally, Simon Quick Advisors LLC acquired a new stake in shares of Topgolf Callaway Brands during the second quarter worth about $161,000. 84.69% of the stock is owned by institutional investors and hedge funds.

Topgolf Callaway Brands Price Performance

Shares of NYSE:MODG opened at $10.70 on Monday. The company has a quick ratio of 1.15, a current ratio of 1.93 and a debt-to-equity ratio of 0.37. The company has a 50-day moving average price of $12.40 and a 200 day moving average price of $14.32. Topgolf Callaway Brands Corp. has a 52 week low of $9.05 and a 52 week high of $16.89. The company has a market cap of $1.96 billion, a P/E ratio of 28.92, a PEG ratio of 6.08 and a beta of 1.74.

Topgolf Callaway Brands (NYSE:MODG) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.14. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.19 billion. Topgolf Callaway Brands had a return on equity of 2.07% and a net margin of 0.50%. The company’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.39 earnings per share. Research analysts predict that Topgolf Callaway Brands Corp. will post 0.18 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on MODG shares. The Goldman Sachs Group decreased their target price on Topgolf Callaway Brands from $15.00 to $14.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. Truist Financial decreased their price objective on Topgolf Callaway Brands from $20.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Raymond James cut shares of Topgolf Callaway Brands from an “outperform” rating to an “underperform” rating in a report on Friday, August 23rd. Bank of America decreased their price target on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Finally, Roth Mkm restated a “buy” rating and issued a $17.00 price objective on shares of Topgolf Callaway Brands in a research note on Thursday, September 5th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $16.00.

Topgolf Callaway Brands Profile

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.