AXQ Capital LP Makes New Investment in Topgolf Callaway Brands Corp. (NYSE:MODG)

AXQ Capital LP purchased a new stake in Topgolf Callaway Brands Corp. (NYSE:MODG) during the 4th quarter, HoldingsChannel reports. The firm purchased 16,986 shares of the company’s stock, valued at approximately $134,000.

A number of other institutional investors have also made changes to their positions in MODG. Xponance Inc. acquired a new stake in Topgolf Callaway Brands in the 4th quarter valued at approximately $87,000. Cibc World Markets Corp bought a new stake in shares of Topgolf Callaway Brands in the fourth quarter valued at approximately $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 during the last quarter. LGT Capital Partners LTD. increased its position in Topgolf Callaway Brands by 25.1% during 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 during the period. Finally, PNC Financial Services Group Inc. raised its stake in Topgolf Callaway Brands by 170.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 13,757 shares of the company’s stock valued at $108,000 after purchasing an additional 8,672 shares during the last quarter. 84.69% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Jefferies Financial Group upgraded shares of Topgolf Callaway Brands from a “hold” rating to a “buy” rating and raised their price target for the stock from $11.00 to $13.00 in a research report on Thursday, January 2nd. Truist Financial lowered their price target on Topgolf Callaway Brands from $14.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Roth Mkm reiterated a “buy” rating and issued 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, JPMorgan Chase & Co. lowered their price objective on Topgolf Callaway Brands from $11.00 to $9.00 and set a “neutral” rating on the stock in a research report on Thursday, January 23rd. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Topgolf Callaway Brands presently has an average rating of “Hold” and a consensus target price of $13.91.

Topgolf Callaway Brands Stock Performance

Shares of NYSE:MODG opened at $6.92 on Tuesday. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of -86.44 and a beta of 1.70. The business’s fifty day moving average price is $7.21 and its two-hundred day moving average price is $8.53. Topgolf Callaway Brands Corp. has a fifty-two week low of $5.59 and a fifty-two week 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.

Topgolf Callaway Brands (NYSE:MODG) last announced its earnings results on Monday, February 24th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.07. The business had revenue of $924.40 million during the quarter, compared to analysts’ expectations 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, analysts predict that Topgolf Callaway Brands Corp. will post 0.16 EPS for the current fiscal 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.