Topgolf Callaway Brands Corp. (NYSE:MODG) Holdings Cut by Rhumbline Advisers

Rhumbline Advisers reduced its stake in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) by 0.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 447,838 shares of the company’s stock after selling 1,623 shares during the period. Rhumbline Advisers owned 0.24% of Topgolf Callaway Brands worth $3,520,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Asset Planning Inc purchased a new position in Topgolf Callaway Brands in the fourth quarter valued at about $33,000. KBC Group NV lifted its holdings in shares of Topgolf Callaway Brands by 81.8% during the 4th quarter. KBC Group NV now owns 8,330 shares of the company’s stock valued at $65,000 after buying an additional 3,749 shares during the last quarter. Quest Partners LLC bought a new stake in shares of Topgolf Callaway Brands in the 3rd quarter valued at approximately $161,000. International Assets Investment Management LLC increased its holdings in Topgolf Callaway Brands by 998.0% in the third quarter. International Assets Investment Management LLC now owns 15,032 shares of the company’s stock worth $165,000 after buying an additional 13,663 shares during the last quarter. Finally, Augustine Asset Management Inc. raised its position in Topgolf Callaway Brands by 7.4% during the fourth quarter. Augustine Asset Management Inc. now owns 21,843 shares of the company’s stock valued at $172,000 after acquiring an additional 1,500 shares in the last quarter. 84.69% of the stock is owned by institutional investors and hedge funds.

Topgolf Callaway Brands Trading Up 0.1 %

Shares of Topgolf Callaway Brands stock opened at $6.53 on Friday. The company has a market cap of $1.20 billion, a price-to-earnings ratio of -81.55 and a beta of 1.70. Topgolf Callaway Brands Corp. has a 1 year low of $6.11 and a 1 year high of $16.89. The company’s fifty day simple moving average is $7.86 and its 200-day simple moving average is $9.07. The company has a current ratio of 1.93, a quick ratio of 1.14 and a debt-to-equity ratio of 0.37.

Topgolf Callaway Brands (NYSE:MODG) last posted its quarterly earnings results 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 for the quarter, compared to analyst estimates of $1.13 billion. Topgolf Callaway Brands had a negative net margin of 0.29% and a positive return on equity of 1.20%. As a group, sell-side analysts expect that Topgolf Callaway Brands Corp. will post 0.16 EPS for the current year.

Analyst Upgrades and Downgrades

MODG has been the subject of several recent research reports. Truist Financial decreased 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. The Goldman Sachs Group lowered their target price on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday, November 14th. 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 research report on Thursday, January 23rd. Jefferies Financial Group upgraded Topgolf Callaway Brands from a “hold” rating to a “buy” rating and upped their price target for the stock from $11.00 to $13.00 in a research note on Thursday, January 2nd. Finally, Roth Mkm reissued a “buy” rating and issued a $11.00 price objective (down from $16.00) on shares of Topgolf Callaway Brands in a research note on Tuesday, February 25th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Topgolf Callaway Brands has a consensus rating of “Hold” and a consensus target price of $13.91.

Topgolf Callaway Brands Company 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.