Aquatic Capital Management LLC Sells 133,153 Shares of Topgolf Callaway Brands Corp. (NYSE:MODG)

Aquatic Capital Management LLC lessened its position in Topgolf Callaway Brands Corp. (NYSE:MODG - Free Report) by 72.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 49,847 shares of the company's stock after selling 133,153 shares during the quarter. Aquatic Capital Management LLC's holdings in Topgolf Callaway Brands were worth $392,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Asset Planning Inc acquired a new position in shares of Topgolf Callaway Brands during the fourth quarter worth about $33,000. Sterling Capital Management LLC increased its holdings in Topgolf Callaway Brands by 821.5% in the fourth quarter. Sterling Capital Management LLC now owns 4,543 shares of the company's stock valued at $36,000 after buying an additional 4,050 shares during the last quarter. KBC Group NV increased its holdings in shares of Topgolf Callaway Brands by 81.8% in the 4th quarter. KBC Group NV now owns 8,330 shares of the company's stock valued at $65,000 after acquiring an additional 3,749 shares during the last quarter. Covestor Ltd boosted its holdings in Topgolf Callaway Brands by 147.2% in the fourth quarter. Covestor Ltd now owns 9,286 shares of the company's stock valued at $73,000 after purchasing an additional 5,530 shares in the last quarter. Finally, Stifel Financial Corp acquired a new position in shares of Topgolf Callaway Brands in the 4th quarter valued at $83,000. Hedge funds and other institutional investors own 84.69% of the company's stock.

Topgolf Callaway Brands Trading Up 2.3 %

Shares of Topgolf Callaway Brands stock traded up $0.16 during trading on Thursday, reaching $7.13. 581,551 shares of the company were exchanged, compared to its average volume of 2,689,151. Topgolf Callaway Brands Corp. has a twelve month low of $5.42 and a twelve month high of $16.89. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of -89.11 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. The business has a 50-day moving average price of $6.39 and a 200-day moving average price of $7.66.

Topgolf Callaway Brands (NYSE:MODG - Get Free Report) last announced its quarterly earnings results on Monday, February 24th. The company reported ($0.33) EPS for the quarter, beating analysts' consensus estimates of ($0.40) by $0.07. The business 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%. Sell-side analysts anticipate that Topgolf Callaway Brands Corp. will post 0.16 EPS for the current fiscal year.

Analysts Set New Price Targets

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

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.