ExodusPoint Capital Management LP Invests $4.77 Million in Topgolf Callaway Brands Corp. (NYSE:MODG)

ExodusPoint Capital Management LP bought a new stake in Topgolf Callaway Brands Corp. (NYSE:MODG) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 606,800 shares of the company’s stock, valued at approximately $4,769,000. ExodusPoint Capital Management LP owned about 0.33% of Topgolf Callaway Brands as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MODG. Asset Planning Inc acquired a new stake in shares of Topgolf Callaway Brands in the fourth quarter valued at $33,000. KBC Group NV increased its stake in Topgolf Callaway Brands by 81.8% during the fourth quarter. KBC Group NV now owns 8,330 shares of the company’s stock worth $65,000 after purchasing an additional 3,749 shares during the period. Xponance Inc. acquired a new stake in shares of Topgolf Callaway Brands during the fourth quarter worth about $87,000. Cibc World Markets Corp purchased a new position in shares of Topgolf Callaway Brands in the fourth quarter valued at approximately $104,000. Finally, PNC Financial Services Group Inc. increased its stake in 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 buying an additional 8,672 shares during the period. Hedge funds and other institutional investors own 84.69% of the company’s stock.

Topgolf Callaway Brands Trading Up 3.9 %

NYSE MODG opened at $6.26 on Monday. The firm’s fifty day moving average price is $6.92 and its 200 day moving average price is $8.31. Topgolf Callaway Brands Corp. has a 12 month low of $5.45 and a 12 month high of $16.89. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 1.14. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of -78.18 and a beta of 1.47.

Topgolf Callaway Brands (NYSE:MODG) last posted 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. The business had revenue of $924.40 million for the quarter, compared to analysts’ expectations of $1.13 billion. Topgolf Callaway Brands had a positive return on equity of 1.20% and a negative net margin of 0.29%. On average, sell-side analysts expect that Topgolf Callaway Brands Corp. will post 0.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Jefferies Financial Group upgraded shares of Topgolf Callaway Brands from a “hold” rating to a “buy” rating and boosted their price target for the stock from $11.00 to $13.00 in a research note 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. Truist Financial decreased their price objective on Topgolf Callaway Brands from $14.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Finally, Roth Mkm restated 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. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $13.91.

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.