Brevan Howard Capital Management LP Acquires Shares of 47,337 Topgolf Callaway Brands Corp. (NYSE:MODG)

Brevan Howard Capital Management LP acquired a new stake in Topgolf Callaway Brands Corp. (NYSE:MODG - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 47,337 shares of the company's stock, valued at approximately $372,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Caxton Associates LP bought a new position in Topgolf Callaway Brands in the fourth quarter worth about $1,152,000. Ameriprise Financial Inc. lifted its position 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 valued at $16,401,000 after buying an additional 764,322 shares during the last quarter. Bwcp LP lifted its position 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 valued at $15,575,000 after buying an additional 45,818 shares during the last quarter. Claar Advisors LLC purchased a new stake in shares of Topgolf Callaway Brands during the fourth quarter valued at about $4,716,000. Finally, Boyar Asset Management Inc. lifted its position in shares of Topgolf Callaway Brands by 3.4% during the fourth quarter. Boyar Asset Management Inc. now owns 108,127 shares of the company's stock valued at $850,000 after buying an additional 3,587 shares during the last quarter. 84.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Roth Mkm reissued a "buy" rating and set a $11.00 price target (down from $16.00) on shares of Topgolf Callaway Brands in a research report on Tuesday, February 25th. Truist Financial decreased their price target on shares of Topgolf Callaway Brands from $12.00 to $7.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, JPMorgan Chase & Co. decreased their price target on shares of 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. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $11.00.

Topgolf Callaway Brands Stock Performance

Shares of NYSE MODG traded down $0.01 during midday trading on Wednesday, reaching $6.54. 4,175,451 shares of the stock were exchanged, compared to its average volume of 2,722,614. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of -81.74 and a beta of 1.25. Topgolf Callaway Brands Corp. has a twelve month low of $5.42 and a twelve month high of $16.89. The firm has a 50-day simple moving average of $6.48 and a two-hundred day simple moving average of $7.56. 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 (NYSE:MODG - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.04) by $0.15. 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 $1.09 billion for the quarter, compared to analysts' expectations of $1.08 billion. During the same quarter last year, the company earned $0.08 EPS. The firm's revenue for the quarter was down 4.5% compared to the same quarter last year. As a group, analysts anticipate that Topgolf Callaway Brands Corp. will post 0.16 EPS for the current fiscal year.

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.