First Trust Advisors LP Purchases 103,184 Shares of Topgolf Callaway Brands Corp. (NYSE:MODG)

First Trust Advisors LP increased its stake in shares of Topgolf Callaway Brands Corp. (NYSE:MODG - Free Report) by 50.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 309,715 shares of the company's stock after acquiring an additional 103,184 shares during the quarter. First Trust Advisors LP owned about 0.17% of Topgolf Callaway Brands worth $2,434,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Alliancebernstein L.P. increased 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 worth $16,919,000 after purchasing an additional 1,063,033 shares during the period. ExodusPoint Capital Management LP bought a new position in Topgolf Callaway Brands during the fourth quarter valued at about $4,769,000. Invesco Ltd. raised 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 valued at $12,511,000 after acquiring an additional 469,728 shares in the last quarter. Requisite Capital Management LLC bought a new stake in shares of Topgolf Callaway Brands in the 4th quarter worth approximately $2,426,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Topgolf Callaway Brands by 14.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,286,719 shares of the company's stock worth $17,974,000 after purchasing an additional 291,052 shares in the last quarter. Institutional investors own 84.69% of the company's stock.

Topgolf Callaway Brands Trading Up 2.4 %

MODG traded up $0.17 during mid-day trading on Friday, hitting $7.35. The stock had a trading volume of 2,074,763 shares, compared to its average volume of 2,681,086. Topgolf Callaway Brands Corp. has a 1-year low of $5.42 and a 1-year high of $16.89. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of -91.86 and a beta of 1.25. 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's fifty day simple moving average is $6.44 and its 200-day simple moving average is $7.59.

Topgolf Callaway Brands (NYSE:MODG - Get Free Report) last posted its earnings results on Monday, February 24th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.40) by $0.07. The firm had revenue of $924.40 million during the quarter, compared to analysts' expectations of $1.13 billion. Topgolf Callaway Brands had a positive return on equity of 1.20% and a negative net margin of 0.29%. As a group, research analysts forecast that Topgolf Callaway Brands Corp. will post 0.16 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently commented on MODG shares. Truist Financial reduced their target price 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. 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 report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Topgolf Callaway Brands from $11.00 to $9.00 and set a "neutral" rating on the stock in a research note on Thursday, January 23rd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $11.00.

Topgolf Callaway Brands Company Profile

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.