American Century Companies Inc. Has $10.59 Million Stake in Topgolf Callaway Brands Corp. $MODG

American Century Companies Inc. boosted its holdings in Topgolf Callaway Brands Corp. (NYSE:MODG) by 448.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,314,939 shares of the company’s stock after buying an additional 1,075,115 shares during the period. American Century Companies Inc. owned approximately 0.72% of Topgolf Callaway Brands worth $10,585,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Signaturefd LLC grew its holdings in Topgolf Callaway Brands by 1,669.0% during the 2nd quarter. Signaturefd LLC now owns 3,078 shares of the company’s stock worth $25,000 after acquiring an additional 2,904 shares during the period. GAMMA Investing LLC acquired a new stake in shares of Topgolf Callaway Brands during the second quarter worth $36,000. CWM LLC increased its holdings in Topgolf Callaway Brands by 124.0% in the second quarter. CWM LLC now owns 4,679 shares of the company’s stock valued at $38,000 after purchasing an additional 2,590 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in Topgolf Callaway Brands by 24.6% in the second quarter. Public Employees Retirement System of Ohio now owns 6,275 shares of the company’s stock valued at $51,000 after buying an additional 1,240 shares during the period. Finally, FNY Investment Advisers LLC bought a new position in Topgolf Callaway Brands during the second quarter worth about $53,000. 84.69% of the stock is owned by institutional investors.

Topgolf Callaway Brands Stock Down 3.3%

Shares of Topgolf Callaway Brands stock opened at $11.81 on Friday. The firm has a market cap of $2.17 billion, a PE ratio of -1.44 and a beta of 0.94. The business’s 50 day simple moving average is $10.13 and its 200 day simple moving average is $9.14. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.30 and a current ratio of 1.87. Topgolf Callaway Brands Corp. has a 52-week low of $5.42 and a 52-week high of $12.99.

Topgolf Callaway Brands (NYSE:MODG) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.16. The company had revenue of $465.30 million during the quarter, compared to analysts’ expectations of $903.96 million. Topgolf Callaway Brands had a negative net margin of 37.06% and a negative return on equity of 0.13%. The business’s quarterly revenue was down 7.8% on a year-over-year basis. During the same period last year, the business earned $0.02 EPS. On average, analysts predict that Topgolf Callaway Brands Corp. will post 0.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MODG has been the topic of a number of analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Topgolf Callaway Brands in a research report on Monday. Roth Capital reaffirmed a “buy” rating and issued a $14.00 target price on shares of Topgolf Callaway Brands in a research note on Wednesday, November 19th. Zacks Research lowered shares of Topgolf Callaway Brands from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. UBS Group reissued a “neutral” rating and set a $11.00 price target on shares of Topgolf Callaway Brands in a research report on Monday, November 24th. Finally, Truist Financial upped their price objective on shares of Topgolf Callaway Brands from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Four research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $11.17.

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.