PDT Partners LLC Trims Position in Topgolf Callaway Brands Corp. (NYSE:MODG)

PDT Partners LLC lowered its position in shares of Topgolf Callaway Brands Corp. (NYSE:MODG - Free Report) by 93.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,924 shares of the company's stock after selling 165,202 shares during the period. PDT Partners LLC's holdings in Topgolf Callaway Brands were worth $86,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Asset Planning Inc bought a new position in Topgolf Callaway Brands in the fourth quarter valued at $33,000. Sterling Capital Management LLC increased its position in shares of 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 position in shares of Topgolf Callaway Brands by 81.8% during the 4th quarter. KBC Group NV now owns 8,330 shares of the company's stock valued at $65,000 after purchasing an additional 3,749 shares during the last quarter. Covestor Ltd lifted its position in Topgolf Callaway Brands by 147.2% in the 4th quarter. Covestor Ltd now owns 9,286 shares of the company's stock worth $73,000 after buying an additional 5,530 shares during the last quarter. Finally, Stifel Financial Corp purchased a new stake in Topgolf Callaway Brands in the fourth quarter worth approximately $83,000. Institutional investors own 84.69% of the company's stock.

Topgolf Callaway Brands Stock Up 1.4 %

MODG traded up $0.10 during midday trading on Friday, reaching $7.28. The company's stock had a trading volume of 829,223 shares, compared to its average volume of 2,692,463. Topgolf Callaway Brands Corp. has a 1 year low of $5.42 and a 1 year high of $16.89. The stock's 50-day moving average is $6.41 and its 200-day moving average is $7.63. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of -90.99 and a beta of 1.25. The company has a current ratio of 1.93, a quick ratio of 1.14 and a debt-to-equity ratio of 0.37.

Topgolf Callaway Brands (NYSE:MODG - Get Free Report) last announced its quarterly earnings data 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. Topgolf Callaway Brands had a positive return on equity of 1.20% and a negative net margin of 0.29%. The business had revenue of $924.40 million during the quarter, compared to analysts' expectations of $1.13 billion. As a group, research analysts expect that Topgolf Callaway Brands Corp. will post 0.16 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Roth Mkm restated a "buy" rating and issued a $11.00 price objective (down from $16.00) on shares of Topgolf Callaway Brands in a report on Tuesday, February 25th. Truist Financial cut their price target 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. Finally, JPMorgan Chase & Co. decreased their price objective on Topgolf Callaway Brands from $11.00 to $9.00 and set a "neutral" rating on the stock in a report on Thursday, January 23rd. Two equities 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. According to data from MarketBeat, Topgolf Callaway Brands presently has a consensus rating of "Hold" and a consensus target price of $11.00.

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.