Bwcp LP Buys 45,818 Shares of Topgolf Callaway Brands Corp. (NYSE:MODG)

Bwcp LP lifted its stake in shares of Topgolf Callaway Brands Corp. (NYSE:MODG - Free Report) by 2.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,981,553 shares of the company's stock after acquiring an additional 45,818 shares during the quarter. Topgolf Callaway Brands comprises about 3.4% of Bwcp LP's investment portfolio, making the stock its 16th biggest holding. Bwcp LP owned 1.08% of Topgolf Callaway Brands worth $15,575,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Asset Planning Inc bought a new stake in Topgolf Callaway Brands during the fourth quarter worth approximately $33,000. Sterling Capital Management LLC boosted its stake in shares of Topgolf Callaway Brands by 821.5% during the 4th quarter. Sterling Capital Management LLC now owns 4,543 shares of the company's stock worth $36,000 after acquiring an additional 4,050 shares in the last quarter. KBC Group NV raised its position in shares of Topgolf Callaway Brands by 81.8% during the fourth quarter. KBC Group NV now owns 8,330 shares of the company's stock worth $65,000 after purchasing an additional 3,749 shares during the period. Covestor Ltd lifted its holdings in shares of Topgolf Callaway Brands by 147.2% during 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 during the last quarter. Finally, Stifel Financial Corp acquired a new stake in Topgolf Callaway Brands during the 4th quarter worth about $83,000. 84.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on MODG shares. Roth Mkm restated 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 reduced their target price 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. dropped their price target on Topgolf Callaway Brands from $11.00 to $9.00 and set a "neutral" rating on the stock in a research report 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 assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $11.00.

Topgolf Callaway Brands Stock Up 2.7 %

NYSE MODG traded up $0.18 during trading on Friday, reaching $6.84. The company's stock had a trading volume of 1,830,850 shares, compared to its average volume of 2,698,875. The business has a 50-day moving average price of $6.38 and a 200-day moving average price of $7.69. Topgolf Callaway Brands Corp. has a 1-year low of $5.42 and a 1-year high of $16.89. The stock has a market capitalization of $1.26 billion, a PE ratio of -85.49 and a beta of 1.47. The company has a current ratio of 1.93, a quick ratio of 1.14 and a debt-to-equity ratio of 0.37.

Topgolf Callaway Brands (NYSE:MODG - Get Free Report) last issued 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 during the quarter, compared to analysts' expectations of $1.13 billion. On average, research analysts forecast that Topgolf Callaway Brands Corp. will post 0.16 earnings per share for the current fiscal year.

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.