Voloridge Investment Management LLC Purchases 59,416 Shares of Topgolf Callaway Brands Corp. (NYSE:MODG)

Voloridge Investment Management LLC boosted its position in Topgolf Callaway Brands Corp. (NYSE:MODG - Free Report) by 22.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 322,452 shares of the company's stock after acquiring an additional 59,416 shares during the period. Voloridge Investment Management LLC owned 0.18% of Topgolf Callaway Brands worth $2,534,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Wexford Capital LP acquired a new position in Topgolf Callaway Brands in the fourth quarter valued at about $98,000. Two Sigma Advisers LP acquired a new stake in shares of Topgolf Callaway Brands during the fourth quarter worth about $159,000. Tidal Investments LLC raised its position in shares of Topgolf Callaway Brands by 11.6% during the fourth quarter. Tidal Investments LLC now owns 24,898 shares of the company's stock worth $196,000 after purchasing an additional 2,596 shares during the period. Shapiro Capital Management LLC raised its position in shares of Topgolf Callaway Brands by 3.6% during the fourth quarter. Shapiro Capital Management LLC now owns 10,520,632 shares of the company's stock worth $82,692,000 after purchasing an additional 366,192 shares during the period. Finally, Prentice Capital Management LP acquired a new stake in shares of Topgolf Callaway Brands during the fourth quarter worth about $2,510,000. Institutional investors and hedge funds own 84.69% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on MODG shares. Roth Mkm reaffirmed a "buy" rating and set a $11.00 price target (down previously from $16.00) on shares of Topgolf Callaway Brands in a research report on Tuesday, February 25th. Truist Financial dropped their price target 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. Wall Street Zen lowered Topgolf Callaway Brands from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. B. Riley started 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. Finally, JPMorgan Chase & Co. dropped their target price on Topgolf Callaway Brands from $8.00 to $7.00 and set a "neutral" rating on the stock in a research report on Tuesday. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given 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 Buying and Selling at Topgolf Callaway Brands

In other Topgolf Callaway Brands news, Director Russell L. Fleischer bought 30,000 shares of Topgolf Callaway Brands stock in a transaction dated Wednesday, May 14th. The stock was bought at an average cost of $6.41 per share, for a total transaction of $192,300.00. Following the purchase, the director now owns 116,187 shares of the company's stock, valued at $744,758.67. The trade was a 34.81% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Glenn F. Hickey purchased 10,000 shares of Topgolf Callaway Brands stock in a transaction that occurred on Monday, May 19th. The stock was purchased at an average price of $6.86 per share, with a total value 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 ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 60,000 shares of company stock worth $388,900 over the last ninety days. 2.40% of the stock is currently owned by corporate insiders.

Topgolf Callaway Brands Stock Down 1.1%

MODG stock traded down $0.07 during mid-day trading on Friday, reaching $6.34. The company had a trading volume of 2,136,828 shares, compared to its average volume of 2,755,785. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 1.14. The stock has a 50 day simple moving average of $6.52 and a two-hundred day simple moving average of $7.30. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of -79.24 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.

Topgolf Callaway Brands (NYSE:MODG - Get Free Report) last posted its quarterly 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. The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.08 billion. Topgolf Callaway Brands had a positive return on equity of 1.20% and a negative net margin of 0.29%. The business's revenue was down 4.5% compared to the same quarter last year. During the same period last year, the company earned $0.08 earnings per share. As a group, equities analysts predict that Topgolf Callaway Brands Corp. will post 0.16 earnings per share 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.