Gotham Asset Management LLC Acquires New Shares in Topgolf Callaway Brands Corp. (NYSE:MODG)

Gotham Asset Management LLC acquired a new position in shares of Topgolf Callaway Brands Corp. (NYSE:MODG - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 42,819 shares of the company's stock, valued at approximately $337,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Thompson Investment Management Inc. lifted its stake in shares of Topgolf Callaway Brands by 11.1% in the fourth quarter. Thompson Investment Management Inc. now owns 362,299 shares of the company's stock worth $2,848,000 after acquiring an additional 36,201 shares in the last quarter. Wealthfront Advisers LLC grew its holdings in Topgolf Callaway Brands by 589.5% in the 4th quarter. Wealthfront Advisers LLC now owns 85,807 shares of the company's stock worth $674,000 after buying an additional 73,362 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Topgolf Callaway Brands by 14.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,286,719 shares of the company's stock worth $17,974,000 after buying an additional 291,052 shares in the last quarter. Invesco Ltd. grew its holdings in Topgolf Callaway Brands by 41.9% in the 4th quarter. Invesco Ltd. now owns 1,591,742 shares of the company's stock worth $12,511,000 after buying an additional 469,728 shares in the last quarter. Finally, Requisite Capital Management LLC bought a new position in Topgolf Callaway Brands during the 4th quarter valued at $2,426,000. Institutional investors and hedge funds own 84.69% of the company's stock.

Wall Street Analysts Forecast Growth

MODG has been the subject of a number of research reports. Roth Mkm reaffirmed a "buy" rating and set a $11.00 price target (down from $16.00) on shares of Topgolf Callaway Brands in a research note on Tuesday, February 25th. B. Riley assumed coverage on Topgolf Callaway Brands in a research report on Friday, May 16th. They set a "neutral" rating and a $7.00 price target on the stock. Truist Financial dropped their target price on Topgolf Callaway Brands from $12.00 to $7.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, Wall Street Zen cut shares of Topgolf Callaway Brands from a "hold" rating to a "sell" rating in a report on Thursday. Three 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 data from MarketBeat.com, Topgolf Callaway Brands has a consensus rating of "Hold" and a consensus target price of $10.50.

Insider Transactions at Topgolf Callaway Brands

In other Topgolf Callaway Brands news, Director Russell L. Fleischer bought 30,000 shares of the company's stock in a transaction on Wednesday, May 14th. The stock was bought at an average price of $6.41 per share, for a total transaction of $192,300.00. Following the transaction, the director now owns 116,187 shares of the company's stock, valued at approximately $744,758.67. The trade was a 34.81% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Oliver G. Brewer III bought 20,000 shares of the company's stock in a transaction on Wednesday, May 14th. The shares were acquired at an average price of $6.40 per share, with a total value of $128,000.00. Following the transaction, the chief executive officer now directly owns 1,009,297 shares in the company, valued at approximately $6,459,500.80. The trade was a 2.02% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 60,000 shares of company stock valued at $388,900 in the last three months. 2.40% of the stock is owned by corporate insiders.

Topgolf Callaway Brands Stock Performance

MODG traded down $0.07 on Friday, hitting $6.26. 1,867,889 shares of the stock traded hands, compared to its average volume of 2,752,176. Topgolf Callaway Brands Corp. has a 52 week low of $5.42 and a 52 week 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 firm has a market capitalization of $1.15 billion, a PE ratio of -78.24 and a beta of 1.25. The business has a fifty day moving average price of $6.55 and a two-hundred day moving average price of $7.39.

Topgolf Callaway Brands (NYSE:MODG - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.15. 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 $1.09 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period in the prior year, the company posted $0.08 EPS. The company's revenue was down 4.5% compared to the same quarter last year. On average, research analysts predict 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.