Claar Advisors LLC Buys New Position in Topgolf Callaway Brands Corp. (NYSE:MODG)

Claar Advisors LLC bought a new stake in Topgolf Callaway Brands Corp. (NYSE:MODG - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 600,000 shares of the company's stock, valued at approximately $4,716,000. Topgolf Callaway Brands makes up about 1.5% of Claar Advisors LLC's investment portfolio, making the stock its 17th biggest position. Claar Advisors LLC owned about 0.33% of Topgolf Callaway Brands as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Alliancebernstein L.P. boosted its holdings in shares of Topgolf Callaway Brands by 97.6% during the 4th quarter. Alliancebernstein L.P. now owns 2,152,565 shares of the company's stock valued at $16,919,000 after buying an additional 1,063,033 shares in the last quarter. ExodusPoint Capital Management LP bought a new stake in Topgolf Callaway Brands during the fourth quarter worth about $4,769,000. Invesco Ltd. grew its holdings in Topgolf Callaway Brands by 41.9% in 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. Susquehanna Fundamental Investments LLC purchased a new stake in Topgolf Callaway Brands in the fourth quarter worth about $2,796,000. Finally, Requisite Capital Management LLC purchased a new stake in Topgolf Callaway Brands in the fourth quarter worth about $2,426,000. 84.69% of the stock is owned by hedge funds and other institutional investors.

Topgolf Callaway Brands Stock Down 1.5 %

MODG opened at $6.63 on Thursday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.14 and a current ratio of 1.93. Topgolf Callaway Brands Corp. has a fifty-two week low of $5.42 and a fifty-two week high of $16.89. The firm's fifty day moving average is $6.37 and its 200 day moving average is $7.79. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of -82.86 and a beta of 1.47.

Topgolf Callaway Brands (NYSE:MODG - Get Free Report) last released its earnings results on Monday, February 24th. The company reported ($0.33) earnings per share 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 analysts' expectations of $1.13 billion. Topgolf Callaway Brands had a negative net margin of 0.29% and a positive return on equity of 1.20%. On average, sell-side analysts forecast that Topgolf Callaway Brands Corp. will post 0.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on MODG shares. Truist Financial cut 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 report on Monday, April 14th. Roth Mkm restated a "buy" rating and issued a $11.00 price objective (down previously from $16.00) on shares of Topgolf Callaway Brands in a report on Tuesday, February 25th. Jefferies Financial Group upgraded shares of Topgolf Callaway Brands from a "hold" rating to a "buy" rating and increased their price target for the company from $11.00 to $13.00 in a report on Thursday, January 2nd. Finally, JPMorgan Chase & Co. cut their price target on shares of Topgolf Callaway Brands from $11.00 to $9.00 and set a "neutral" rating on the stock in a report on Thursday, January 23rd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average 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.

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