Topgolf Callaway Brands Corp. (NYSE:MODG) Shares Sold by American Century Companies Inc.

American Century Companies Inc. cut its holdings in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) by 19.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 2,603,547 shares of the company’s stock after selling 623,045 shares during the period. American Century Companies Inc.’s holdings in Topgolf Callaway Brands were worth $20,464,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of MODG. Intech Investment Management LLC acquired a new stake in Topgolf Callaway Brands in the third quarter valued at approximately $424,000. Charles Schwab Investment Management Inc. grew its stake in Topgolf Callaway Brands by 8.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,995,667 shares of the company’s stock valued at $21,912,000 after acquiring an additional 148,451 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Topgolf Callaway Brands by 1.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 355,256 shares of the company’s stock valued at $3,901,000 after acquiring an additional 3,841 shares during the period. PDT Partners LLC purchased a new stake in Topgolf Callaway Brands in the 3rd quarter worth $1,934,000. Finally, Edgestream Partners L.P. acquired a new position in Topgolf Callaway Brands during the third quarter worth $417,000. Hedge funds and other institutional investors own 84.69% of the company’s stock.

Topgolf Callaway Brands Stock Down 5.6 %

NYSE MODG opened at $6.52 on Monday. 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 Corp. has a 52 week low of $5.59 and a 52 week high of $16.89. The business’s fifty day simple moving average is $7.10 and its 200-day simple moving average is $8.44. The firm has a market cap of $1.20 billion, a PE ratio of -81.43 and a beta of 1.70.

Topgolf Callaway Brands (NYSE:MODG) last posted its earnings results on Monday, February 24th. The company reported ($0.33) earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $1.13 billion. As a group, equities analysts anticipate that Topgolf Callaway Brands Corp. will post 0.16 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MODG. Truist Financial dropped their target price 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. Roth Mkm reiterated 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. JPMorgan Chase & Co. decreased their target price on Topgolf Callaway Brands from $11.00 to $9.00 and set a “neutral” rating on the stock in a research report on Thursday, January 23rd. Finally, Jefferies Financial Group raised Topgolf Callaway Brands from a “hold” rating to a “buy” rating and lifted their price target for the stock from $11.00 to $13.00 in a research note on Thursday, January 2nd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $13.91.

Topgolf Callaway Brands 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.