Guggenheim Capital LLC Buys 11,420 Shares of Topgolf Callaway Brands Corp. (NYSE:MODG)

Guggenheim Capital LLC grew its stake in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) by 64.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,193 shares of the company’s stock after acquiring an additional 11,420 shares during the quarter. Guggenheim Capital LLC’s holdings in Topgolf Callaway Brands were worth $229,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of MODG. Augustine Asset Management Inc. boosted its position in shares of Topgolf Callaway Brands by 7.4% during the fourth quarter. Augustine Asset Management Inc. now owns 21,843 shares of the company’s stock valued at $172,000 after buying an additional 1,500 shares during the last quarter. Crossmark Global Holdings Inc. boosted its position in shares of Topgolf Callaway Brands by 7.8% during the fourth quarter. Crossmark Global Holdings Inc. now owns 37,329 shares of the company’s stock valued at $293,000 after buying an additional 2,712 shares during the last quarter. KBC Group NV boosted its position in shares of Topgolf Callaway Brands by 81.8% during the fourth quarter. KBC Group NV now owns 8,330 shares of the company’s stock valued at $65,000 after buying an additional 3,749 shares during the last quarter. Sterling Capital Management LLC boosted its position in shares of Topgolf Callaway Brands by 821.5% during the fourth quarter. Sterling Capital Management LLC now owns 4,543 shares of the company’s stock valued at $36,000 after buying an additional 4,050 shares during the last quarter. Finally, Asset Planning Inc purchased a new stake in shares of Topgolf Callaway Brands during the fourth quarter valued at $33,000. 84.69% of the stock is currently owned by institutional investors.

Topgolf Callaway Brands Stock Up 1.0 %

NYSE MODG opened at $6.78 on Tuesday. The stock’s 50 day moving average is $6.39 and its 200 day moving average is $7.80. The company has a current ratio of 1.93, a quick ratio of 1.14 and a debt-to-equity ratio of 0.37. Topgolf Callaway Brands Corp. has a 12 month low of $5.42 and a 12 month high of $16.89. The stock has a market cap of $1.25 billion, a PE ratio of -84.74 and a beta of 1.47.

Topgolf Callaway Brands (NYSE:MODG) last posted its quarterly earnings results on Monday, February 24th. The company reported ($0.33) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.07. Topgolf Callaway Brands had a positive return on equity of 1.20% and a negative net margin of 0.29%. The company had revenue of $924.40 million for the quarter, compared to analysts’ expectations of $1.13 billion. Research analysts predict that Topgolf Callaway Brands Corp. will post 0.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MODG has been the topic of several recent analyst reports. Jefferies Financial Group raised Topgolf Callaway Brands from a “hold” rating to a “buy” rating and increased their price objective for the company from $11.00 to $13.00 in a research report on Thursday, January 2nd. Truist Financial dropped their target price on Topgolf Callaway Brands from $12.00 to $7.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Roth Mkm reissued a “buy” rating and issued a $11.00 target price (down from $16.00) on shares of Topgolf Callaway Brands in a research report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. dropped their target price 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 research 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 data from MarketBeat, the company presently 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.