Jump Financial LLC Takes Position in Topgolf Callaway Brands Corp. (NYSE:MODG)

Jump Financial LLC purchased a new position in Topgolf Callaway Brands Corp. (NYSE:MODG - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 73,420 shares of the company's stock, valued at approximately $577,000.

Several other institutional investors also recently bought and sold shares of the company. Asset Planning Inc purchased a new stake in shares of Topgolf Callaway Brands during the fourth quarter valued at approximately $33,000. Sterling Capital Management LLC boosted its stake in Topgolf Callaway Brands by 821.5% during the 4th quarter. Sterling Capital Management LLC now owns 4,543 shares of the company's stock valued at $36,000 after purchasing an additional 4,050 shares during the last quarter. KBC Group NV increased its holdings in shares of Topgolf Callaway Brands by 81.8% in the 4th quarter. KBC Group NV now owns 8,330 shares of the company's stock worth $65,000 after purchasing an additional 3,749 shares in the last quarter. Covestor Ltd raised its stake in shares of Topgolf Callaway Brands by 147.2% in the fourth quarter. Covestor Ltd now owns 9,286 shares of the company's stock worth $73,000 after purchasing an additional 5,530 shares during the last quarter. Finally, Xponance Inc. bought a new position in shares of Topgolf Callaway Brands during the fourth quarter valued at $87,000. 84.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Roth Mkm restated a "buy" rating and set a $11.00 target price (down previously from $16.00) on shares of Topgolf Callaway Brands in a research note 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 objective for the company from $11.00 to $13.00 in a research report on Thursday, January 2nd. JPMorgan Chase & Co. decreased their target price on shares of Topgolf Callaway Brands from $11.00 to $9.00 and set a "neutral" rating for the company in a research note on Thursday, January 23rd. Finally, 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 note on Monday, April 14th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Topgolf Callaway Brands presently has an average rating of "Hold" and a consensus target price of $11.00.

Topgolf Callaway Brands Price Performance

NYSE:MODG traded down $0.14 during trading hours on Tuesday, hitting $6.66. 426,934 shares of the stock traded hands, compared to its average volume of 2,678,481. The stock has a 50 day moving average price of $6.39 and a 200 day moving average price of $7.80. The company has a quick ratio of 1.14, a current ratio of 1.93 and a debt-to-equity ratio of 0.37. The company has a market cap of $1.22 billion, a price-to-earnings ratio of -83.18 and a beta of 1.47. Topgolf Callaway Brands Corp. has a 1 year low of $5.42 and a 1 year high of $16.89.

Topgolf Callaway Brands (NYSE:MODG - Get Free Report) last issued its earnings results on Monday, February 24th. The company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.07. Topgolf Callaway Brands had a negative net margin of 0.29% and a positive return on equity of 1.20%. The company had revenue of $924.40 million during the quarter, compared to the consensus estimate of $1.13 billion. Sell-side analysts forecast 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.