Susquehanna Fundamental Investments LLC Acquires New Stake in Topgolf Callaway Brands Corp. (NYSE:MODG)

Susquehanna Fundamental Investments LLC acquired a new stake in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 355,788 shares of the company’s stock, valued at approximately $2,796,000. Susquehanna Fundamental Investments LLC owned about 0.19% of Topgolf Callaway Brands at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Topgolf Callaway Brands by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 15,860,996 shares of the company’s stock worth $124,667,000 after purchasing an additional 224,578 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Topgolf Callaway Brands by 14.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,286,719 shares of the company’s stock valued at $17,974,000 after buying an additional 291,052 shares during the last quarter. Alliancebernstein L.P. increased its position in shares of Topgolf Callaway Brands by 97.6% during the fourth quarter. Alliancebernstein L.P. now owns 2,152,565 shares of the company’s stock valued at $16,919,000 after acquiring an additional 1,063,033 shares in the last quarter. Long Focus Capital Management LLC raised its holdings in Topgolf Callaway Brands by 10.6% in the 4th quarter. Long Focus Capital Management LLC now owns 2,038,000 shares of the company’s stock worth $16,019,000 after acquiring an additional 195,000 shares during the last quarter. Finally, Harbor Capital Advisors Inc. lifted its position in Topgolf Callaway Brands by 14.7% in the 4th quarter. Harbor Capital Advisors Inc. now owns 1,886,496 shares of the company’s stock valued at $14,828,000 after acquiring an additional 241,755 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 $6.72 on Wednesday. The stock’s fifty day moving average is $6.38 and its 200 day moving average is $7.80. Topgolf Callaway Brands Corp. has a one year low of $5.42 and a one year high of $16.89. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.14 and a current ratio of 1.93. The stock has a market cap of $1.23 billion, a P/E ratio of -84.00 and a beta of 1.47.

Topgolf Callaway Brands (NYSE:MODG) last announced its quarterly earnings data on Monday, February 24th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.07. Topgolf Callaway Brands had a positive return on equity of 1.20% and a negative net margin of 0.29%. The company had revenue of $924.40 million during the quarter, compared to the consensus estimate of $1.13 billion. Sell-side analysts anticipate that Topgolf Callaway Brands Corp. will post 0.16 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have commented on the company. JPMorgan Chase & Co. reduced their target price on Topgolf Callaway Brands from $11.00 to $9.00 and set a “neutral” rating for the company in a report on Thursday, January 23rd. Jefferies Financial Group upgraded Topgolf Callaway Brands from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $11.00 to $13.00 in a report on Thursday, January 2nd. Roth Mkm restated a “buy” rating and set a $11.00 target price (down previously from $16.00) on shares of Topgolf Callaway Brands in a research note on Tuesday, February 25th. Finally, Truist Financial reduced their price target on shares of Topgolf Callaway Brands from $12.00 to $7.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Topgolf Callaway Brands currently has an average rating of “Hold” and a consensus price target of $11.00.

Topgolf Callaway Brands Company 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.