Arrowstreet Capital Limited Partnership Purchases Shares of 205,369 Topgolf Callaway Brands Corp. (NYSE:MODG)

Arrowstreet Capital Limited Partnership purchased 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. The fund purchased 205,369 shares of the company's stock, valued at approximately $1,614,000. Arrowstreet Capital Limited Partnership owned 0.11% of Topgolf Callaway Brands at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Topgolf Callaway Brands by 1.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 355,256 shares of the company's stock worth $3,901,000 after purchasing an additional 3,841 shares in the last quarter. MML Investors Services LLC grew its position in Topgolf Callaway Brands by 25.3% during the third quarter. MML Investors Services LLC now owns 93,897 shares of the company's stock worth $1,031,000 after buying an additional 18,988 shares in the last quarter. Geode Capital Management LLC increased its stake in Topgolf Callaway Brands by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 3,255,232 shares of the company's stock worth $35,749,000 after acquiring an additional 22,003 shares during the period. Boyar Asset Management Inc. increased its stake in Topgolf Callaway Brands by 17.5% during the 3rd quarter. Boyar Asset Management Inc. now owns 104,540 shares of the company's stock worth $1,148,000 after acquiring an additional 15,532 shares during the period. Finally, Tidal Investments LLC raised its holdings in Topgolf Callaway Brands by 35.7% in the 3rd quarter. Tidal Investments LLC now owns 22,302 shares of the company's stock valued at $245,000 after acquiring an additional 5,862 shares in the last quarter. 84.69% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Truist Financial cut 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 report on Monday. Roth Mkm restated a "buy" rating and set a $11.00 target price (down from $16.00) on shares of Topgolf Callaway Brands in a research note on Tuesday, February 25th. Jefferies Financial Group upgraded Topgolf Callaway Brands from a "hold" rating to a "buy" rating and lifted their price target for the company from $11.00 to $13.00 in a research note on Thursday, January 2nd. Finally, JPMorgan Chase & Co. dropped their price objective 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. Two 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $11.00.

Topgolf Callaway Brands Stock Up 1.4 %

MODG traded up $0.09 during mid-day trading on Wednesday, reaching $6.29. 185,069 shares of the stock were exchanged, compared to its average volume of 2,644,202. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.14 and a current ratio of 1.93. The stock has a market capitalization of $1.16 billion, a PE ratio of -78.30 and a beta of 1.47. Topgolf Callaway Brands Corp. has a 1 year low of $5.42 and a 1 year high of $16.89. The company has a 50 day moving average price of $6.56 and a two-hundred day moving average price of $8.06.

Topgolf Callaway Brands (NYSE:MODG - Get Free Report) last released its quarterly earnings data 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. The company had revenue of $924.40 million for the quarter, compared to analyst estimates of $1.13 billion. Topgolf Callaway Brands had a positive return on equity of 1.20% and a negative net margin of 0.29%. As a group, research analysts anticipate that Topgolf Callaway Brands Corp. will post 0.16 EPS for the current 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.