Topgolf Callaway Brands Corp. (NYSE:MODG) is AREX Capital Management LP's 4th Largest Position

AREX Capital Management LP lowered its stake in shares of Topgolf Callaway Brands Corp. (NYSE:MODG - Free Report) by 42.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 598,800 shares of the company's stock after selling 438,891 shares during the period. Topgolf Callaway Brands accounts for about 6.7% of AREX Capital Management LP's investment portfolio, making the stock its 4th biggest holding. AREX Capital Management LP owned approximately 0.33% of Topgolf Callaway Brands worth $4,707,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Thompson Investment Management Inc. boosted its position in Topgolf Callaway Brands by 11.1% during the fourth quarter. Thompson Investment Management Inc. now owns 362,299 shares of the company's stock valued at $2,848,000 after purchasing an additional 36,201 shares in the last quarter. Wealthfront Advisers LLC boosted its holdings in shares of Topgolf Callaway Brands by 589.5% in the 4th quarter. Wealthfront Advisers LLC now owns 85,807 shares of the company's stock valued at $674,000 after buying an additional 73,362 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake 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 acquiring an additional 291,052 shares in the last quarter. Invesco Ltd. lifted its position in Topgolf Callaway Brands by 41.9% during the fourth 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 during the last quarter. Finally, Requisite Capital Management LLC acquired a new stake in Topgolf Callaway Brands in the fourth quarter valued at approximately $2,426,000. Institutional investors own 84.69% of the company's stock.

Topgolf Callaway Brands Price Performance

Shares of NYSE:MODG traded up $0.30 during midday trading on Thursday, hitting $7.27. The company's stock had a trading volume of 1,155,491 shares, compared to its average volume of 2,691,267. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.14 and a current ratio of 1.93. The business's 50 day simple moving average is $6.39 and its 200 day simple moving average is $7.66. Topgolf Callaway Brands Corp. has a 12-month low of $5.42 and a 12-month high of $16.89. The company has a market cap of $1.34 billion, a P/E ratio of -90.86 and a beta of 1.25.

Topgolf Callaway Brands (NYSE:MODG - Get Free Report) last posted its earnings results on Monday, February 24th. The company reported ($0.33) EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $1.13 billion. On average, analysts forecast that Topgolf Callaway Brands Corp. will post 0.16 EPS for the current year.

Wall Street Analyst Weigh In

MODG has been the subject of several analyst reports. Roth Mkm reiterated a "buy" rating and set a $11.00 price objective (down previously from $16.00) on shares of Topgolf Callaway Brands in a report on Tuesday, February 25th. Truist Financial lowered their price target on Topgolf Callaway Brands from $12.00 to $7.00 and set a "buy" rating for the company in a report on Monday, April 14th. 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 for the company in a research note on Thursday, January 23rd. Two 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, the stock presently has a consensus rating of "Hold" and an average 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.