300,720 Shares in Topgolf Callaway Brands Corp. (NYSE:MODG) Acquired by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC bought a new position in shares of Topgolf Callaway Brands Corp. (NYSE:MODG - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 300,720 shares of the company's stock, valued at approximately $2,364,000. Cubist Systematic Strategies LLC owned about 0.16% of Topgolf Callaway Brands at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Bridgeway Capital Management LLC raised its holdings in Topgolf Callaway Brands by 1.9% in the 4th quarter. Bridgeway Capital Management LLC now owns 820,951 shares of the company's stock valued at $6,453,000 after acquiring an additional 15,615 shares during the period. Brevan Howard Capital Management LP acquired a new stake in shares of Topgolf Callaway Brands during the fourth quarter worth $372,000. Caxton Associates LP acquired a new stake in shares of Topgolf Callaway Brands during the fourth quarter worth $1,152,000. Ameriprise Financial Inc. lifted its holdings in shares of Topgolf Callaway Brands by 57.8% during the fourth quarter. Ameriprise Financial Inc. now owns 2,086,700 shares of the company's stock worth $16,401,000 after buying an additional 764,322 shares in the last quarter. Finally, Bwcp LP lifted its holdings in shares of Topgolf Callaway Brands by 2.4% during the fourth quarter. Bwcp LP now owns 1,981,553 shares of the company's stock worth $15,575,000 after buying an additional 45,818 shares in the last quarter. 84.69% of the stock is owned by institutional investors and hedge funds.

Topgolf Callaway Brands Trading Up 2.4%

Shares of Topgolf Callaway Brands stock opened at $7.35 on Monday. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of -91.86 and a beta of 1.25. The company has a quick ratio of 1.14, a current ratio of 1.93 and a debt-to-equity ratio of 0.37. Topgolf Callaway Brands Corp. has a 12-month low of $5.42 and a 12-month high of $16.89. The firm's 50-day moving average price is $6.44 and its two-hundred day moving average price is $7.58.

Topgolf Callaway Brands (NYSE:MODG - Get Free Report) last announced its quarterly earnings data on Monday, February 24th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.40) by $0.07. Topgolf Callaway Brands had a negative net margin of 0.29% and a positive return on equity of 1.20%. The firm had revenue of $924.40 million for the quarter, compared to the consensus estimate of $1.13 billion. On average, analysts forecast that Topgolf Callaway Brands Corp. will post 0.16 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Roth Mkm reissued a "buy" rating and set a $11.00 target price (down previously from $16.00) on shares of Topgolf Callaway Brands in a report on Tuesday, February 25th. JPMorgan Chase & Co. cut their price target on Topgolf Callaway Brands from $11.00 to $9.00 and set a "neutral" rating for the company in a research note on Thursday, January 23rd. Finally, Truist Financial cut their price target on Topgolf Callaway Brands from $12.00 to $7.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $11.00.

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.

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