Long Focus Capital Management LLC Has $16.02 Million Position in Topgolf Callaway Brands Corp. (NYSE:MODG)

Long Focus Capital Management LLC grew its holdings in Topgolf Callaway Brands Corp. (NYSE:MODG) by 10.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,038,000 shares of the company’s stock after buying an additional 195,000 shares during the quarter. Long Focus Capital Management LLC owned 1.11% of Topgolf Callaway Brands worth $16,019,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Thompson Investment Management Inc. raised its position in Topgolf Callaway Brands by 11.1% in the fourth quarter. Thompson Investment Management Inc. now owns 362,299 shares of the company’s stock worth $2,848,000 after purchasing an additional 36,201 shares in the last quarter. Wealthfront Advisers LLC grew its stake in shares of Topgolf Callaway Brands by 589.5% in the 4th quarter. Wealthfront Advisers LLC now owns 85,807 shares of the company’s stock valued at $674,000 after purchasing an additional 73,362 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Topgolf Callaway Brands by 14.6% in 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 in the last quarter. Requisite Capital Management LLC bought a new position in shares of Topgolf Callaway Brands during the 4th quarter worth approximately $2,426,000. Finally, Prescott Group Capital Management L.L.C. acquired a new stake in Topgolf Callaway Brands in the 4th quarter valued at $1,596,000. 84.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MODG. JPMorgan Chase & Co. cut their price objective 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. Truist Financial cut 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 report on Monday, April 14th. Roth Mkm reaffirmed a “buy” rating and set a $11.00 price objective (down from $16.00) on shares of Topgolf Callaway Brands in a research note on Tuesday, February 25th. Finally, Jefferies Financial Group upgraded shares of Topgolf Callaway Brands from a “hold” rating to a “buy” rating and lifted their target price for the company from $11.00 to $13.00 in a research note on Thursday, January 2nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $11.00.

Topgolf Callaway Brands Stock Performance

Shares of Topgolf Callaway Brands stock opened at $6.59 on Wednesday. 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 firm has a 50 day simple moving average of $6.44 and a 200 day simple moving average of $7.91. Topgolf Callaway Brands Corp. has a fifty-two week low of $5.42 and a fifty-two week high of $16.89. The firm has a market cap of $1.21 billion, a P/E ratio of -82.30 and a beta of 1.47.

Topgolf Callaway Brands (NYSE:MODG) last released its earnings results on Monday, February 24th. The company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.07. The company had revenue of $924.40 million during 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%. Sell-side analysts predict that Topgolf Callaway Brands Corp. will post 0.16 earnings per share for the current fiscal 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.