Trexquant Investment LP Sells 192,449 Shares of Topgolf Callaway Brands Corp. (NYSE:MODG)

Trexquant Investment LP reduced its stake in Topgolf Callaway Brands Corp. (NYSE:MODG) by 47.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 213,557 shares of the company’s stock after selling 192,449 shares during the quarter. Trexquant Investment LP’s holdings in Topgolf Callaway Brands were worth $1,679,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Topgolf Callaway Brands by 1.4% in the 4th 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. Geode Capital Management LLC lifted its position in Topgolf Callaway Brands by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 3,255,232 shares of the company’s stock valued at $35,749,000 after acquiring an additional 22,003 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in 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 valued at $17,974,000 after acquiring an additional 291,052 shares in the last quarter. Alliancebernstein L.P. lifted its position in Topgolf Callaway Brands by 97.6% in the 4th quarter. Alliancebernstein L.P. now owns 2,152,565 shares of the company’s stock valued at $16,919,000 after acquiring an additional 1,063,033 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its position in Topgolf Callaway Brands by 14.7% in the 4th quarter. Harbor Capital Advisors Inc. now owns 1,886,496 shares of the company’s stock valued at $14,828,000 after acquiring an additional 241,755 shares in the last quarter. 84.69% of the stock is owned by institutional investors.

Topgolf Callaway Brands Trading Up 13.6 %

NYSE:MODG opened at $6.33 on Thursday. 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 market capitalization of $1.16 billion, a price-to-earnings ratio of -79.12 and a beta of 1.47. Topgolf Callaway Brands Corp. has a one year low of $5.42 and a one year high of $16.89. The business has a fifty day moving average price of $6.70 and a 200-day moving average price of $8.18.

Topgolf Callaway Brands (NYSE:MODG) last posted its quarterly earnings data on Monday, February 24th. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.07. The firm had revenue of $924.40 million during the quarter, compared to analyst estimates 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 forecast that Topgolf Callaway Brands Corp. will post 0.16 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on MODG shares. Truist Financial lowered their price objective on Topgolf Callaway Brands from $14.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. JPMorgan Chase & Co. lowered their price target on Topgolf Callaway Brands from $11.00 to $9.00 and set a “neutral” rating on the stock in a report on Thursday, January 23rd. Jefferies Financial Group raised Topgolf Callaway Brands from a “hold” rating to a “buy” rating and increased their price target for the company from $11.00 to $13.00 in a report on Thursday, January 2nd. Finally, Roth Mkm reissued a “buy” rating and set a $11.00 price target (down from $16.00) on shares of Topgolf Callaway Brands in a report on Tuesday, February 25th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $13.91.

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.