Lansing Street Advisors Invests $187,000 in Topgolf Callaway Brands Corp. (NYSE:MODG)

Lansing Street Advisors purchased a new stake in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 17,017 shares of the company’s stock, valued at approximately $187,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. UniSuper Management Pty Ltd bought a new position in shares of Topgolf Callaway Brands during the first quarter valued at $643,000. Leonard Green & Partners L.P. purchased a new position in Topgolf Callaway Brands in the second quarter worth about $97,173,000. Illinois Municipal Retirement Fund bought a new position in shares of Topgolf Callaway Brands in the first quarter worth approximately $1,360,000. Quadrature Capital Ltd purchased a new stake in shares of Topgolf Callaway Brands during the first quarter valued at approximately $677,000. Finally, Vanguard Group Inc. increased its position in shares of Topgolf Callaway Brands by 0.5% during the first quarter. Vanguard Group Inc. now owns 15,484,400 shares of the company’s stock valued at $250,383,000 after acquiring an additional 81,021 shares in the last quarter. 84.69% of the stock is owned by hedge funds and other institutional investors.

Topgolf Callaway Brands Price Performance

Shares of Topgolf Callaway Brands stock opened at $9.79 on Monday. The stock has a market cap of $1.80 billion, a P/E ratio of 97.90, a P/E/G ratio of 6.24 and a beta of 1.75. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.15 and a current ratio of 1.93. The stock’s fifty day moving average is $10.29 and its 200 day moving average is $13.23. Topgolf Callaway Brands Corp. has a one year low of $9.05 and a one year high of $16.89.

Topgolf Callaway Brands (NYSE:MODG) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.28 by $0.14. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.19 billion. Topgolf Callaway Brands had a return on equity of 2.07% and a net margin of 0.50%. The business’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.39 earnings per share. Sell-side analysts anticipate that Topgolf Callaway Brands Corp. will post 0.18 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Bank of America lowered their price objective on Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. Truist Financial reduced their price objective on Topgolf Callaway Brands from $20.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, August 8th. B. Riley downgraded shares of Topgolf Callaway Brands from a “buy” rating to a “neutral” rating and dropped their price target for the company from $18.00 to $12.00 in a report on Thursday, October 17th. KeyCorp cut shares of Topgolf Callaway Brands from an “overweight” rating to a “sector weight” rating in a report on Thursday, August 8th. Finally, Morgan Stanley lowered their price objective 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. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $15.31.

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.