Topgolf Callaway Brands Corp. (NYSE:MODG) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. raised its position in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) by 31.1% in the fourth quarter, HoldingsChannel reports. The firm owned 158,327 shares of the company’s stock after acquiring an additional 37,600 shares during the period. Victory Capital Management Inc.’s holdings in Topgolf Callaway Brands were worth $1,244,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MODG. Portolan Capital Management LLC acquired a new position in Topgolf Callaway Brands during the 3rd quarter valued at about $3,862,000. Requisite Capital Management LLC bought a new stake in shares of Topgolf Callaway Brands during the 4th quarter worth about $2,426,000. Charles Schwab Investment Management Inc. raised its position 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 buying an additional 291,052 shares in the last quarter. Harbor Capital Advisors Inc. raised its position in shares of Topgolf Callaway Brands by 14.7% during the 4th quarter. Harbor Capital Advisors Inc. now owns 1,886,496 shares of the company’s stock worth $14,828,000 after buying an additional 241,755 shares in the last quarter. Finally, PDT Partners LLC bought a new stake in shares of Topgolf Callaway Brands during the 3rd quarter worth about $1,934,000. 84.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Topgolf Callaway Brands Stock Up 4.3 %

MODG stock opened at $6.50 on Thursday. Topgolf Callaway Brands Corp. has a 52-week low of $5.59 and a 52-week high of $16.89. The company’s 50 day simple moving average is $7.31 and its 200-day simple moving average is $8.62. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 1.14. The firm has a market capitalization of $1.19 billion, a P/E ratio of -81.18 and a beta of 1.70.

Topgolf Callaway Brands (NYSE:MODG) last released its quarterly earnings results 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 negative net margin of 0.29% and a positive return on equity of 1.20%. The business had revenue of $924.40 million for the quarter, compared to analyst estimates of $1.13 billion. As a group, equities research analysts anticipate that Topgolf Callaway Brands Corp. will post 0.16 EPS 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.