Topgolf Callaway Brands Corp. (NYSE:MODG) Shares Sold by Palogic Value Management L.P.

Palogic Value Management L.P. decreased its holdings in Topgolf Callaway Brands Corp. (NYSE:MODG) by 18.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 110,000 shares of the company’s stock after selling 25,000 shares during the period. Palogic Value Management L.P.’s holdings in Topgolf Callaway Brands were worth $865,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the business. Xponance Inc. acquired a new position in shares of Topgolf Callaway Brands in the fourth quarter worth $87,000. Cibc World Markets Corp acquired a new position in shares of Topgolf Callaway Brands in the fourth quarter worth $104,000. Wealthfront Advisers LLC grew its stake in shares of Topgolf Callaway Brands by 589.5% in the fourth quarter. Wealthfront Advisers LLC now owns 85,807 shares of the company’s stock worth $674,000 after acquiring an additional 73,362 shares in the last quarter. LGT Capital Partners LTD. grew its stake in shares of Topgolf Callaway Brands by 25.1% in the fourth quarter. LGT Capital Partners LTD. now owns 750,789 shares of the company’s stock worth $5,901,000 after acquiring an additional 150,789 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in shares of Topgolf Callaway Brands by 170.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 13,757 shares of the company’s stock worth $108,000 after acquiring an additional 8,672 shares in the last quarter. Institutional investors and hedge funds own 84.69% of the company’s stock.

Wall Street Analyst Weigh In

MODG has been the subject of several research reports. Truist Financial dropped their price target on shares of 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. Jefferies Financial Group raised shares of 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 research report on Thursday, January 2nd. 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 report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. decreased their price objective 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. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $13.91.

Topgolf Callaway Brands Price Performance

Shares of MODG opened at $6.61 on Friday. Topgolf Callaway Brands Corp. has a 1-year low of $5.59 and a 1-year high of $16.89. The stock has a market cap of $1.21 billion, a PE ratio of -82.55 and a beta of 1.70. 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 fifty day moving average price of $7.27 and a 200 day moving average price of $8.61.

Topgolf Callaway Brands (NYSE:MODG) last announced its quarterly earnings results 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. Topgolf Callaway Brands had a negative net margin of 0.29% and a positive return on equity of 1.20%. The firm had revenue of $924.40 million during the quarter, compared to analysts’ expectations of $1.13 billion. As a group, sell-side analysts anticipate that Topgolf Callaway Brands Corp. will post 0.16 EPS for the current year.

About Topgolf Callaway Brands

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.