Commonwealth Equity Services LLC Sells 7,105 Shares of Topgolf Callaway Brands Corp. (NYSE:MODG)

Commonwealth Equity Services LLC lowered its holdings in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) by 23.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 23,615 shares of the company’s stock after selling 7,105 shares during the period. Commonwealth Equity Services LLC’s holdings in Topgolf Callaway Brands were worth $186,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Requisite Capital Management LLC bought a new position in Topgolf Callaway Brands during the 4th quarter worth approximately $2,426,000. Charles Schwab Investment Management Inc. lifted its holdings in Topgolf Callaway Brands by 14.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,286,719 shares of the company’s stock valued at $17,974,000 after buying an additional 291,052 shares during the period. Harbor Capital Advisors Inc. boosted its position in Topgolf Callaway Brands by 14.7% during the fourth quarter. Harbor Capital Advisors Inc. now owns 1,886,496 shares of the company’s stock valued at $14,828,000 after acquiring an additional 241,755 shares during the last quarter. Prescott Group Capital Management L.L.C. acquired a new stake in Topgolf Callaway Brands during the 4th quarter worth about $1,596,000. Finally, LGT Capital Partners LTD. raised its position in shares of Topgolf Callaway Brands by 25.1% in the 4th quarter. LGT Capital Partners LTD. now owns 750,789 shares of the company’s stock worth $5,901,000 after acquiring an additional 150,789 shares in the last quarter. Institutional investors and hedge funds own 84.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on MODG shares. Truist Financial cut 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 note on Tuesday, January 7th. Jefferies Financial Group raised Topgolf Callaway Brands from a “hold” rating to a “buy” rating and boosted their target price for the company from $11.00 to $13.00 in a research report on Thursday, January 2nd. JPMorgan Chase & Co. cut their price target on Topgolf Callaway Brands from $11.00 to $9.00 and set a “neutral” rating on the stock in a report on Thursday, January 23rd. Finally, Roth Mkm restated a “buy” rating and set a $11.00 price objective (down previously from $16.00) on shares of Topgolf Callaway Brands in a report on Tuesday, February 25th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $13.91.

Topgolf Callaway Brands Stock Performance

Shares of Topgolf Callaway Brands stock opened at $6.25 on Friday. Topgolf Callaway Brands Corp. has a 12 month low of $5.42 and a 12 month high of $16.89. The firm has a market capitalization of $1.15 billion, a P/E ratio of -78.05 and a beta of 1.47. 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 business has a fifty day simple moving average of $6.67 and a two-hundred day simple moving average of $8.15.

Topgolf Callaway Brands (NYSE:MODG) last released its earnings results on Monday, February 24th. The company reported ($0.33) EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $924.40 million for the quarter, compared to analysts’ expectations of $1.13 billion. On average, equities analysts forecast that Topgolf Callaway Brands Corp. will post 0.16 earnings per share for the current fiscal year.

Topgolf Callaway Brands Company 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.