Bwcp LP Boosts Stake in Topgolf Callaway Brands Corp. (NYSE:MODG)

Bwcp LP boosted its stake in shares of Topgolf Callaway Brands Corp. (NYSE:MODG - Free Report) by 2.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,981,553 shares of the company's stock after purchasing an additional 45,818 shares during the quarter. Topgolf Callaway Brands comprises 3.4% of Bwcp LP's holdings, making the stock its 16th largest holding. Bwcp LP owned 1.08% of Topgolf Callaway Brands worth $15,575,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MODG. Alliancebernstein L.P. increased its holdings in shares of Topgolf Callaway Brands by 97.6% during the fourth quarter. Alliancebernstein L.P. now owns 2,152,565 shares of the company's stock valued at $16,919,000 after acquiring an additional 1,063,033 shares in the last quarter. ExodusPoint Capital Management LP acquired a new stake in shares of Topgolf Callaway Brands during the fourth quarter worth $4,769,000. Claar Advisors LLC acquired a new position in shares of Topgolf Callaway Brands in the fourth quarter valued at about $4,716,000. Invesco Ltd. lifted its holdings in shares of Topgolf Callaway Brands by 41.9% during the fourth quarter. Invesco Ltd. now owns 1,591,742 shares of the company's stock worth $12,511,000 after purchasing an additional 469,728 shares during the period. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Topgolf Callaway Brands in the 4th quarter worth approximately $2,796,000. Hedge funds and other institutional investors own 84.69% of the company's stock.

Topgolf Callaway Brands Price Performance

MODG stock traded up $0.11 during mid-day trading on Wednesday, reaching $6.98. The company's stock had a trading volume of 676,874 shares, compared to its average volume of 2,688,594. The company has a current ratio of 1.93, a quick ratio of 1.14 and a debt-to-equity ratio of 0.37. The company's 50 day moving average is $6.38 and its two-hundred day moving average is $7.66. Topgolf Callaway Brands Corp. has a fifty-two week low of $5.42 and a fifty-two week high of $16.89. The stock has a market cap of $1.28 billion, a PE ratio of -87.30 and a beta of 1.25.

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

Wall Street Analyst Weigh In

Several analysts have recently commented on MODG shares. Roth Mkm reaffirmed a "buy" rating and issued a $11.00 price objective (down from $16.00) on shares of Topgolf Callaway Brands in a report on Tuesday, February 25th. JPMorgan Chase & Co. dropped their target price on Topgolf Callaway Brands from $11.00 to $9.00 and set a "neutral" rating on the stock in a report on Thursday, January 23rd. Finally, Truist Financial dropped their price objective on shares of Topgolf Callaway Brands from $12.00 to $7.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company 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.