Caxton Associates LP Acquires Shares of 146,540 Topgolf Callaway Brands Corp. (NYSE:MODG)

Caxton Associates LP bought a new position in shares of Topgolf Callaway Brands Corp. (NYSE:MODG - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 146,540 shares of the company's stock, valued at approximately $1,152,000. Caxton Associates LP owned 0.08% of Topgolf Callaway Brands at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in MODG. Asset Planning Inc acquired a new stake in Topgolf Callaway Brands during the 4th quarter worth $33,000. Sterling Capital Management LLC grew its stake in Topgolf Callaway Brands by 821.5% during the 4th quarter. Sterling Capital Management LLC now owns 4,543 shares of the company's stock valued at $36,000 after acquiring an additional 4,050 shares in the last quarter. KBC Group NV raised its holdings in 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 lifted its stake in Topgolf Callaway Brands by 147.2% in the 4th quarter. Covestor Ltd now owns 9,286 shares of the company's stock worth $73,000 after purchasing an additional 5,530 shares in the last quarter. Finally, Stifel Financial Corp purchased a new stake in shares of Topgolf Callaway Brands in the fourth quarter valued at approximately $83,000. Institutional investors and hedge funds own 84.69% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MODG. JPMorgan Chase & Co. cut their target price on Topgolf Callaway Brands from $11.00 to $9.00 and set a "neutral" rating for the company in a research note on Thursday, January 23rd. Roth Mkm reaffirmed 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. Finally, Truist Financial dropped 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 note on Monday, April 14th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Topgolf Callaway Brands currently has a consensus rating of "Hold" and a consensus price target of $11.00.

Topgolf Callaway Brands Trading Up 2.4 %

Shares of MODG traded up $0.17 during midday trading on Friday, hitting $7.35. 2,074,763 shares of the stock were exchanged, compared to its average volume of 2,681,086. 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 firm has a market cap of $1.35 billion, a P/E ratio of -91.86 and a beta of 1.25. Topgolf Callaway Brands Corp. has a 52-week low of $5.42 and a 52-week high of $16.89. The stock has a fifty day simple moving average of $6.44 and a 200 day simple moving average of $7.59.

Topgolf Callaway Brands (NYSE:MODG - Get Free Report) last issued its quarterly earnings results on Monday, February 24th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $924.40 million for the quarter, compared to analysts' expectations of $1.13 billion. On average, research analysts anticipate that Topgolf Callaway Brands Corp. will post 0.16 EPS for the current fiscal year.

About Topgolf Callaway Brands

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.