Quantbot Technologies LP Lowers Position in Topgolf Callaway Brands Corp. (NYSE:MODG)

Quantbot Technologies LP trimmed its position in Topgolf Callaway Brands Corp. (NYSE:MODG) by 51.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 72,954 shares of the company’s stock after selling 76,901 shares during the period. Quantbot Technologies LP’s holdings in Topgolf Callaway Brands were worth $573,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Quest Partners LLC purchased a new stake in shares of Topgolf Callaway Brands in the 3rd quarter worth about $161,000. Intech Investment Management LLC bought a new stake in Topgolf Callaway Brands during the third quarter worth about $424,000. Charles Schwab Investment Management Inc. boosted its stake in Topgolf Callaway Brands by 8.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,995,667 shares of the company’s stock worth $21,912,000 after acquiring an additional 148,451 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Topgolf Callaway Brands by 1.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 355,256 shares of the company’s stock worth $3,901,000 after purchasing an additional 3,841 shares during the period. Finally, PDT Partners LLC bought a new position in shares of Topgolf Callaway Brands during the third quarter valued at approximately $1,934,000. Institutional investors own 84.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MODG. Jefferies Financial Group raised 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. Truist Financial reduced their price target on Topgolf Callaway Brands from $14.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. JPMorgan Chase & Co. lowered their price target on Topgolf Callaway Brands from $11.00 to $9.00 and set a “neutral” rating for the company in a research report on Thursday, January 23rd. Finally, Roth Mkm reissued a “buy” rating and set a $11.00 price objective (down from $16.00) on shares of Topgolf Callaway Brands in a research report on Tuesday, February 25th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $13.91.

Topgolf Callaway Brands Trading Up 1.7 %

Shares of MODG stock opened at $6.91 on Friday. The stock has a market capitalization of $1.27 billion, a P/E ratio of -86.33 and a beta of 1.70. The company has a current ratio of 1.93, a quick ratio of 1.14 and a debt-to-equity ratio of 0.37. The firm’s 50 day moving average is $7.13 and its 200 day moving average is $8.48. Topgolf Callaway Brands Corp. has a 12-month low of $5.59 and a 12-month high of $16.89.

Topgolf Callaway Brands (NYSE:MODG) last issued its quarterly earnings data on Monday, February 24th. The company reported ($0.33) EPS 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 company had revenue of $924.40 million during the quarter, compared to analyst estimates of $1.13 billion. Research analysts expect that Topgolf Callaway Brands Corp. will post 0.16 earnings per share for the current year.

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.