AXQ Capital LP Purchases Shares of 16,986 Topgolf Callaway Brands Corp. (NYSE:MODG)

AXQ Capital LP acquired a new position in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 16,986 shares of the company’s stock, valued at approximately $134,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Asset Planning Inc purchased a new position in Topgolf Callaway Brands in the 4th quarter worth about $33,000. KBC Group NV increased its position in shares of Topgolf Callaway Brands by 81.8% in the fourth quarter. KBC Group NV now owns 8,330 shares of the company’s stock worth $65,000 after acquiring an additional 3,749 shares in the last quarter. Xponance Inc. acquired a new stake in shares of Topgolf Callaway Brands during the fourth quarter valued at approximately $87,000. Cibc World Markets Corp purchased a new stake in shares of Topgolf Callaway Brands in the 4th quarter valued at approximately $104,000. Finally, PNC Financial Services Group Inc. lifted its position in shares of Topgolf Callaway Brands by 170.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 13,757 shares of the company’s stock valued at $108,000 after acquiring an additional 8,672 shares in the last quarter. 84.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on MODG. Roth Mkm reissued a “buy” rating and set a $11.00 target price (down from $16.00) on shares of Topgolf Callaway Brands in a research note on Tuesday, February 25th. JPMorgan Chase & Co. reduced their price objective on Topgolf Callaway Brands from $11.00 to $9.00 and set a “neutral” rating for the company in a research note on Thursday, January 23rd. Jefferies Financial Group raised Topgolf Callaway Brands from a “hold” rating to a “buy” rating and lifted their target price for the company from $11.00 to $13.00 in a research note on Thursday, January 2nd. Finally, Truist Financial reduced their price target on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $13.91.

Topgolf Callaway Brands Stock Performance

MODG stock opened at $6.92 on Tuesday. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of -86.44 and a beta of 1.70. The firm has a 50 day moving average of $7.21 and a two-hundred day moving average of $8.53. 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 12 month low of $5.59 and a 12 month high of $16.89.

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. The company had revenue of $924.40 million for the quarter, compared to analyst estimates of $1.13 billion. Topgolf Callaway Brands had a positive return on equity of 1.20% and a negative net margin of 0.29%. As a group, equities analysts anticipate that Topgolf Callaway Brands Corp. will post 0.16 EPS for the current fiscal 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.