Squarepoint Ops LLC Has $5.97 Million Position in Topgolf Callaway Brands Corp. (NYSE:MODG)

Squarepoint Ops LLC increased its stake in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) by 1,002.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 390,172 shares of the company’s stock after purchasing an additional 354,773 shares during the quarter. Squarepoint Ops LLC owned approximately 0.21% of Topgolf Callaway Brands worth $5,970,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in MODG. Fifth Third Bancorp boosted its holdings in shares of Topgolf Callaway Brands by 327.6% during the second quarter. Fifth Third Bancorp now owns 2,527 shares of the company’s stock worth $39,000 after purchasing an additional 1,936 shares during the period. Dnca Finance acquired a new stake in Topgolf Callaway Brands in the second quarter valued at approximately $134,000. Caas Capital Management LP acquired a new stake in Topgolf Callaway Brands in the fourth quarter valued at approximately $148,000. Koss Olinger Consulting LLC acquired a new stake in Topgolf Callaway Brands in the second quarter valued at approximately $160,000. Finally, Simon Quick Advisors LLC acquired a new stake in Topgolf Callaway Brands in the second quarter valued at approximately $161,000. 84.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MODG. Raymond James cut shares of Topgolf Callaway Brands from an “outperform” rating to an “underperform” rating in a research note on Friday, August 23rd. KeyCorp lowered shares of Topgolf Callaway Brands from an “overweight” rating to a “sector weight” rating in a research report on Thursday, August 8th. Roth Mkm reaffirmed a “buy” rating and set a $17.00 target price on shares of Topgolf Callaway Brands in a research report on Thursday, September 5th. Morgan Stanley dropped their target price on shares of Topgolf Callaway Brands from $11.00 to $10.00 and set an “underweight” rating on the stock in a research report on Thursday, August 8th. Finally, Jefferies Financial Group lowered shares of Topgolf Callaway Brands from a “buy” rating to a “hold” rating and dropped their target price for the stock from $40.00 to $12.00 in a research report on Thursday, August 29th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Topgolf Callaway Brands currently has an average rating of “Hold” and a consensus price target of $16.00.

Topgolf Callaway Brands Price Performance

NYSE:MODG opened at $10.90 on Monday. The firm has a market cap of $2.00 billion, a PE ratio of 29.46, a price-to-earnings-growth ratio of 6.81 and a beta of 1.74. Topgolf Callaway Brands Corp. has a 12 month low of $9.05 and a 12 month high of $16.89. The company has a quick ratio of 1.15, a current ratio of 1.93 and a debt-to-equity ratio of 0.37. The company’s 50-day moving average price is $11.91 and its two-hundred day moving average price is $14.20.

Topgolf Callaway Brands (NYSE:MODG) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.14. The firm had revenue of $1.16 billion for 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%. The company’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.39 earnings per share. On average, equities analysts anticipate that Topgolf Callaway Brands Corp. will post 0.18 EPS for the current fiscal 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.