Bridgeway Capital Management LLC Grows Stock Position in Topgolf Callaway Brands Corp. (NYSE:MODG)

Bridgeway Capital Management LLC boosted its stake in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) by 1.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 820,951 shares of the company’s stock after purchasing an additional 15,615 shares during the quarter. Bridgeway Capital Management LLC owned approximately 0.45% of Topgolf Callaway Brands worth $6,453,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Topgolf Callaway Brands by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 15,860,996 shares of the company’s stock valued at $124,667,000 after acquiring an additional 224,578 shares in the last quarter. Charles Schwab Investment Management Inc. lifted 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 purchasing an additional 291,052 shares during the last quarter. Alliancebernstein L.P. grew its stake 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 worth $16,919,000 after purchasing an additional 1,063,033 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in Topgolf Callaway Brands by 57.8% in the fourth quarter. Ameriprise Financial Inc. now owns 2,086,700 shares of the company’s stock valued at $16,401,000 after buying an additional 764,322 shares during the last quarter. Finally, Long Focus Capital Management LLC raised its stake in Topgolf Callaway Brands by 10.6% in the fourth quarter. Long Focus Capital Management LLC now owns 2,038,000 shares of the company’s stock valued at $16,019,000 after buying an additional 195,000 shares in the last quarter. Hedge funds and other institutional investors own 84.69% of the company’s stock.

Topgolf Callaway Brands Stock Up 0.8 %

MODG opened at $6.87 on Wednesday. The business has a 50 day moving average price of $6.38 and a two-hundred day moving average price of $7.66. Topgolf Callaway Brands Corp. has a 52 week low of $5.42 and a 52 week high of $16.89. The company has a market cap of $1.26 billion, a PE ratio of -85.80 and a beta of 1.25. The company has a quick ratio of 1.14, a current ratio of 1.93 and a debt-to-equity ratio of 0.37.

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. lowered their price objective on 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. Roth Mkm restated a “buy” rating and set a $11.00 price objective (down previously from $16.00) on shares of Topgolf Callaway Brands in a research report on Tuesday, February 25th. Finally, Truist Financial cut their price target on shares of Topgolf Callaway Brands from $12.00 to $7.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price 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.