11,108 Shares in Topgolf Callaway Brands Corp. (NYSE:MODG) Bought by Xponance Inc.

Xponance Inc. purchased a new stake in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 11,108 shares of the company’s stock, valued at approximately $87,000.

A number of other large investors have also added to or reduced their stakes in MODG. Cibc World Markets Corp bought a new stake in shares of Topgolf Callaway Brands in the 4th quarter worth approximately $104,000. Wealthfront Advisers LLC lifted its stake in Topgolf Callaway Brands by 589.5% in the fourth quarter. Wealthfront Advisers LLC now owns 85,807 shares of the company’s stock worth $674,000 after acquiring an additional 73,362 shares during the period. LGT Capital Partners LTD. boosted its holdings in Topgolf Callaway Brands by 25.1% in the fourth quarter. LGT Capital Partners LTD. now owns 750,789 shares of the company’s stock valued at $5,901,000 after acquiring an additional 150,789 shares in the last quarter. PNC Financial Services Group Inc. increased its position in Topgolf Callaway Brands by 170.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 13,757 shares of the company’s stock valued at $108,000 after purchasing an additional 8,672 shares during the period. Finally, Prescott Group Capital Management L.L.C. bought a new position in Topgolf Callaway Brands in the 4th quarter worth $1,596,000. Institutional investors own 84.69% of the company’s stock.

Analyst Upgrades and Downgrades

MODG has been the topic of several research analyst reports. Roth Mkm reiterated a “buy” rating and set a $11.00 price target (down previously from $16.00) on shares of Topgolf Callaway Brands in a research report on Tuesday, February 25th. JPMorgan Chase & Co. decreased their target price 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. Truist Financial lowered their target price on Topgolf Callaway Brands from $14.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Finally, Jefferies Financial Group raised 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. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Topgolf Callaway Brands presently has an average rating of “Hold” and an average price target of $13.91.

Topgolf Callaway Brands Price Performance

Shares of MODG opened at $6.52 on Friday. The company has a market capitalization of $1.20 billion, a P/E ratio of -81.43 and a beta of 1.70. Topgolf Callaway Brands Corp. has a twelve month low of $5.59 and a twelve month high of $16.89. 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 50 day moving average of $7.10 and a 200 day moving average of $8.45.

Topgolf Callaway Brands (NYSE:MODG) last announced its quarterly earnings results on Monday, February 24th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $1.13 billion. As a group, equities research analysts anticipate that Topgolf Callaway Brands Corp. will post 0.16 earnings per share for the current fiscal year.

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.