Topgolf Callaway Brands Corp. (NYSE:MODG) Shares Sold by GM Advisory Group LLC

GM Advisory Group LLC cut its stake in Topgolf Callaway Brands Corp. (NYSE:MODG) by 29.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 61,205 shares of the company’s stock after selling 26,085 shares during the period. GM Advisory Group LLC’s holdings in Topgolf Callaway Brands were worth $481,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Roth Mkm reissued a “buy” rating and issued a $11.00 target price (down previously from $16.00) on shares of Topgolf Callaway Brands in a report on Tuesday, February 25th. Truist Financial cut their target price on Topgolf Callaway Brands from $14.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Jefferies Financial Group raised Topgolf Callaway Brands from a “hold” rating to a “buy” rating and upped their price target for the company from $11.00 to $13.00 in a report on Thursday, January 2nd. Finally, JPMorgan Chase & Co. cut their price objective on shares of Topgolf Callaway Brands from $11.00 to $9.00 and set a “neutral” rating on the stock in a report on Thursday, January 23rd. Two investment 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $13.91.

Topgolf Callaway Brands Stock Up 4.3 %

MODG stock opened at $6.50 on Thursday. The company has a market cap of $1.19 billion, a price-to-earnings ratio of -81.18 and a beta of 1.70. The company has a fifty day moving average price of $7.31 and a 200 day moving average price of $8.62. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 1.14. 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 announced its earnings results on Monday, February 24th. The company reported ($0.33) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.07. Topgolf Callaway Brands had a negative net margin of 0.29% and a positive return on equity of 1.20%. The business had revenue of $924.40 million during the quarter, compared to analysts’ expectations of $1.13 billion. Sell-side analysts expect that Topgolf Callaway Brands Corp. will post 0.16 earnings per share for the current 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.