UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 82,642 Shares of Topgolf Callaway Brands Corp. (NYSE:MODG)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Topgolf Callaway Brands Corp. (NYSE:MODG - Free Report) by 23.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 437,898 shares of the company's stock after acquiring an additional 82,642 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.24% of Topgolf Callaway Brands worth $3,442,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Voloridge Investment Management LLC raised its stake in shares of Topgolf Callaway Brands by 22.6% in the fourth quarter. Voloridge Investment Management LLC now owns 322,452 shares of the company's stock worth $2,534,000 after purchasing an additional 59,416 shares during the last quarter. Wexford Capital LP bought a new stake in Topgolf Callaway Brands during the fourth quarter worth $98,000. Two Sigma Advisers LP purchased a new stake in Topgolf Callaway Brands in the 4th quarter valued at $159,000. Tidal Investments LLC raised its position in Topgolf Callaway Brands by 11.6% in the 4th quarter. Tidal Investments LLC now owns 24,898 shares of the company's stock valued at $196,000 after buying an additional 2,596 shares during the last quarter. Finally, Shapiro Capital Management LLC lifted its stake in Topgolf Callaway Brands by 3.6% during the 4th quarter. Shapiro Capital Management LLC now owns 10,520,632 shares of the company's stock valued at $82,692,000 after acquiring an additional 366,192 shares in the last quarter. Institutional investors and hedge funds own 84.69% of the company's stock.

Topgolf Callaway Brands Stock Performance

NYSE MODG traded down $0.01 during trading hours on Friday, reaching $6.44. 1,955,967 shares of the company were exchanged, compared to its average volume of 2,778,020. The stock has a market capitalization of $1.18 billion, a P/E ratio of -80.43 and a beta of 1.21. The company has a quick ratio of 1.14, a current ratio of 1.93 and a debt-to-equity ratio of 0.37. Topgolf Callaway Brands Corp. has a 1 year low of $5.42 and a 1 year high of $16.89. The business's 50 day simple moving average is $6.47 and its 200-day simple moving average is $7.19.

Topgolf Callaway Brands (NYSE:MODG - Get Free Report) last released its earnings results on Monday, May 12th. The company reported $0.11 earnings per share for the quarter, beating analysts' consensus estimates of ($0.04) by $0.15. Topgolf Callaway Brands had a negative net margin of 0.29% and a positive return on equity of 1.20%. The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the prior year, the firm earned $0.08 EPS. The company's revenue was down 4.5% compared to the same quarter last year. On average, equities research analysts expect that Topgolf Callaway Brands Corp. will post 0.16 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. JPMorgan Chase & Co. reduced their target price on shares of Topgolf Callaway Brands from $8.00 to $7.00 and set a "neutral" rating for the company in a research note on Tuesday, May 27th. Roth Mkm restated a "buy" rating and set a $11.00 price target (down from $16.00) on shares of Topgolf Callaway Brands in a report on Tuesday, February 25th. Truist Financial reduced their price objective on shares of 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. Wall Street Zen lowered shares of Topgolf Callaway Brands from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Finally, B. Riley initiated coverage on shares of Topgolf Callaway Brands in a research report on Friday, May 16th. They set a "neutral" rating and a $7.00 target price on the stock. 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 company. Based on data from MarketBeat.com, Topgolf Callaway Brands has an average rating of "Hold" and a consensus price target of $10.30.

Insider Activity at Topgolf Callaway Brands

In other news, CEO Oliver G. Brewer III acquired 20,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The stock was bought at an average price of $6.40 per share, with a total value of $128,000.00. Following the acquisition, the chief executive officer now owns 1,009,297 shares in the company, valued at $6,459,500.80. The trade was a 2.02% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Glenn F. Hickey acquired 10,000 shares of the stock in a transaction that occurred on Monday, May 19th. The stock was purchased at an average price of $6.86 per share, for a total transaction of $68,600.00. Following the completion of the purchase, the executive vice president now directly owns 10,000 shares in the company, valued at $68,600. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 443,701 shares of company stock worth $2,868,217. Insiders own 2.40% of the company's stock.

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.