Park Avenue Securities LLC Buys 1,985 Shares of Topgolf Callaway Brands Corp. (NYSE:MODG)

Park Avenue Securities LLC increased its stake in Topgolf Callaway Brands Corp. (NYSE:MODG) by 13.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,679 shares of the company’s stock after purchasing an additional 1,985 shares during the period. Park Avenue Securities LLC’s holdings in Topgolf Callaway Brands were worth $183,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of MODG. Fifth Third Bancorp grew its holdings in shares of Topgolf Callaway Brands by 327.6% during the 2nd quarter. Fifth Third Bancorp now owns 2,527 shares of the company’s stock valued at $39,000 after purchasing an additional 1,936 shares during the last quarter. Dnca Finance bought a new stake in Topgolf Callaway Brands during the 2nd quarter worth $134,000. Koss Olinger Consulting LLC acquired a new position in Topgolf Callaway Brands in the 2nd quarter worth about $160,000. Simon Quick Advisors LLC bought a new position in Topgolf Callaway Brands in the second quarter valued at about $161,000. Finally, QRG Capital Management Inc. acquired a new stake in shares of Topgolf Callaway Brands during the first quarter valued at about $178,000. Institutional investors and hedge funds own 84.69% of the company’s stock.

Topgolf Callaway Brands Trading Up 2.2 %

Shares of MODG stock opened at $10.64 on Tuesday. Topgolf Callaway Brands Corp. has a fifty-two week low of $9.05 and a fifty-two week high of $16.89. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.15 and a current ratio of 1.93. The stock has a 50 day simple moving average of $10.73 and a two-hundred day simple moving average of $13.82. The company has a market cap of $1.95 billion, a P/E ratio of 28.76, a PEG ratio of 6.42 and a beta of 1.75.

Topgolf Callaway Brands (NYSE:MODG) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.14. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.19 billion. Topgolf Callaway Brands had a net margin of 0.50% and a return on equity of 2.07%. Topgolf Callaway Brands’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.39 EPS. Research analysts forecast that Topgolf Callaway Brands Corp. will post 0.18 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on MODG shares. Bank of America lowered their price objective on Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Morgan Stanley dropped their price target on shares of Topgolf Callaway Brands from $11.00 to $10.00 and set an “underweight” rating for the company in a research note on Thursday, August 8th. Jefferies Financial Group lowered shares of Topgolf Callaway Brands from a “buy” rating to a “hold” rating and cut their price target for the stock from $40.00 to $12.00 in a report on Thursday, August 29th. Roth Mkm restated a “buy” rating and issued a $17.00 price objective on shares of Topgolf Callaway Brands in a report on Thursday, September 5th. Finally, Truist Financial cut their target price on Topgolf Callaway Brands from $20.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $16.00.

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.