Wealthfront Advisers LLC Buys 73,362 Shares of Topgolf Callaway Brands Corp. (NYSE:MODG)

Wealthfront Advisers LLC grew its stake in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) by 589.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 85,807 shares of the company’s stock after buying an additional 73,362 shares during the period. Wealthfront Advisers LLC’s holdings in Topgolf Callaway Brands were worth $674,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Asset Planning Inc bought a new stake in shares of Topgolf Callaway Brands during the fourth quarter valued at approximately $33,000. KBC Group NV raised its position in shares of Topgolf Callaway Brands by 81.8% during the fourth quarter. KBC Group NV now owns 8,330 shares of the company’s stock valued at $65,000 after buying an additional 3,749 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Topgolf Callaway Brands by 170.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 13,757 shares of the company’s stock valued at $108,000 after buying an additional 8,672 shares during the last quarter. Quest Partners LLC bought a new stake in shares of Topgolf Callaway Brands during the third quarter valued at approximately $161,000. Finally, Paloma Partners Management Co purchased a new position in shares of Topgolf Callaway Brands in the third quarter valued at $200,000. Institutional investors own 84.69% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on MODG shares. Jefferies Financial Group raised shares of Topgolf Callaway Brands from a “hold” rating to a “buy” rating and raised their target price for the company from $11.00 to $13.00 in a report on Thursday, January 2nd. Roth Mkm reissued a “buy” rating and issued a $11.00 target price (down from $16.00) on shares of Topgolf Callaway Brands in a report on Tuesday, February 25th. Truist Financial cut their target price on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. cut 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 report on Thursday, January 23rd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Topgolf Callaway Brands currently has an average rating of “Hold” and an average target price of $13.91.

Topgolf Callaway Brands Stock Up 0.2 %

NYSE MODG opened at $6.19 on Monday. Topgolf Callaway Brands Corp. has a 52 week low of $5.59 and a 52 week high of $16.89. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of -77.30 and a beta of 1.70. The company has a fifty day moving average of $7.46 and a two-hundred day moving average of $8.69. The company has a quick ratio of 1.14, a current ratio of 1.93 and a debt-to-equity ratio of 0.37.

Topgolf Callaway Brands (NYSE:MODG) last released 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 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 the consensus estimate of $1.13 billion. On average, analysts predict that Topgolf Callaway Brands Corp. will post 0.16 earnings per share for the current 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.