Prentice Capital Management LP Acquires New Holdings in Topgolf Callaway Brands Corp. (NYSE:MODG)

Prentice Capital Management LP acquired a new stake in Topgolf Callaway Brands Corp. (NYSE:MODG) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 319,379 shares of the company’s stock, valued at approximately $2,510,000. Topgolf Callaway Brands comprises 4.3% of Prentice Capital Management LP’s holdings, making the stock its 8th biggest position. Prentice Capital Management LP owned approximately 0.17% of Topgolf Callaway Brands at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MODG. Thompson Investment Management Inc. grew its position in shares of Topgolf Callaway Brands by 11.1% during the 4th quarter. Thompson Investment Management Inc. now owns 362,299 shares of the company’s stock worth $2,848,000 after buying an additional 36,201 shares during the period. Wealthfront Advisers LLC grew its position in shares of Topgolf Callaway Brands by 589.5% during the 4th quarter. Wealthfront Advisers LLC now owns 85,807 shares of the company’s stock worth $674,000 after buying an additional 73,362 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Topgolf Callaway Brands by 14.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,286,719 shares of the company’s stock worth $17,974,000 after buying an additional 291,052 shares during the period. Invesco Ltd. grew its position in shares of Topgolf Callaway Brands by 41.9% during the 4th quarter. Invesco Ltd. now owns 1,591,742 shares of the company’s stock worth $12,511,000 after buying an additional 469,728 shares during the period. Finally, Requisite Capital Management LLC acquired a new stake in shares of Topgolf Callaway Brands during the 4th quarter worth approximately $2,426,000. Institutional investors and hedge funds own 84.69% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MODG. 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 report on Monday, April 14th. JPMorgan Chase & Co. reduced their price target on shares of Topgolf Callaway Brands from $11.00 to $9.00 and set a “neutral” rating for the company in a research report on Thursday, January 23rd. Finally, Roth Mkm reissued a “buy” rating and issued a $11.00 price target (down previously from $16.00) on shares of Topgolf Callaway Brands in a research report on Tuesday, February 25th. 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $11.00.

Topgolf Callaway Brands Trading Down 0.2%

NYSE MODG opened at $6.54 on Thursday. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of -81.74 and a beta of 1.25. 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 current ratio of 1.93 and a quick ratio of 1.14. The business’s fifty day moving average is $6.48 and its 200-day moving average is $7.55.

Topgolf Callaway Brands (NYSE:MODG) last announced its quarterly earnings data on Monday, May 12th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.15. Topgolf Callaway Brands had a positive return on equity of 1.20% and a negative net margin of 0.29%. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the previous year, the business posted $0.08 EPS. The firm’s quarterly revenue was down 4.5% compared to the same quarter last year. Equities research analysts predict that Topgolf Callaway Brands Corp. will post 0.16 EPS 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.