Claar Advisors LLC Acquires New Stake in Topgolf Callaway Brands Corp. (NYSE:MODG)

Claar Advisors LLC purchased a new position in Topgolf Callaway Brands Corp. (NYSE:MODG - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 600,000 shares of the company's stock, valued at approximately $4,716,000. Topgolf Callaway Brands comprises about 1.5% of Claar Advisors LLC's investment portfolio, making the stock its 17th biggest holding. Claar Advisors LLC owned 0.33% of Topgolf Callaway Brands as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of the company. Boyar Asset Management Inc. raised its stake in shares of Topgolf Callaway Brands by 17.5% in the third quarter. Boyar Asset Management Inc. now owns 104,540 shares of the company's stock worth $1,148,000 after purchasing an additional 15,532 shares during the last quarter. Tidal Investments LLC lifted its stake in Topgolf Callaway Brands by 35.7% during 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 during the period. Sterneck Capital Management LLC boosted its holdings in shares of Topgolf Callaway Brands by 31.0% during the 4th quarter. Sterneck Capital Management LLC now owns 28,672 shares of the company's stock valued at $225,000 after acquiring an additional 6,786 shares during the last quarter. Harbor Capital Advisors Inc. raised its stake in Topgolf Callaway Brands by 14.7% during the 4th quarter. Harbor Capital Advisors Inc. now owns 1,886,496 shares of the company's stock valued at $14,828,000 after buying an additional 241,755 shares during the last quarter. Finally, Crossmark Global Holdings Inc. increased its position in Topgolf Callaway Brands by 7.8% during the fourth quarter. Crossmark Global Holdings Inc. now owns 37,329 shares of the company's stock valued at $293,000 after acquiring an additional 2,712 shares during the last quarter. Institutional investors own 84.69% of the company's stock.

Topgolf Callaway Brands Price Performance

MODG traded down $0.02 during trading hours on Tuesday, hitting $6.80. The company's stock had a trading volume of 684,450 shares, compared to its average volume of 2,686,830. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of -84.93 and a beta of 1.25. Topgolf Callaway Brands Corp. has a 12 month low of $5.42 and a 12 month high of $16.89. 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 business's 50-day moving average price is $6.38 and its 200-day moving average price is $7.67.

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 analysts' consensus estimates of ($0.40) by $0.07. Topgolf Callaway Brands had a positive return on equity of 1.20% and a negative net margin of 0.29%. The company had revenue of $924.40 million during the quarter, compared to the consensus estimate of $1.13 billion. Sell-side analysts expect that Topgolf Callaway Brands Corp. will post 0.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MODG has been the subject of a number of recent research reports. JPMorgan Chase & Co. cut their price objective on shares of 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. Truist Financial reduced their price target on Topgolf Callaway Brands from $12.00 to $7.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, Roth Mkm reaffirmed a "buy" rating and set a $11.00 price objective (down from $16.00) on shares of Topgolf Callaway Brands in a research report on Tuesday, February 25th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $11.00.

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.