Topgolf Callaway Brands Corp. $MODG Stake Decreased by Thompson Investment Management Inc.

Thompson Investment Management Inc. cut its holdings in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) by 98.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,455 shares of the company’s stock after selling 359,285 shares during the period. Thompson Investment Management Inc.’s holdings in Topgolf Callaway Brands were worth $61,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Signaturefd LLC boosted its position in Topgolf Callaway Brands by 1,669.0% during the 2nd quarter. Signaturefd LLC now owns 3,078 shares of the company’s stock worth $25,000 after acquiring an additional 2,904 shares during the period. GAMMA Investing LLC bought a new stake in shares of Topgolf Callaway Brands during the second quarter valued at about $36,000. CWM LLC lifted its holdings in Topgolf Callaway Brands by 124.0% in the second quarter. CWM LLC now owns 4,679 shares of the company’s stock worth $38,000 after purchasing an additional 2,590 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in Topgolf Callaway Brands by 24.6% in the second quarter. Public Employees Retirement System of Ohio now owns 6,275 shares of the company’s stock worth $51,000 after purchasing an additional 1,240 shares during the period. Finally, FNY Investment Advisers LLC bought a new position in Topgolf Callaway Brands in the 2nd quarter valued at about $53,000. 84.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on MODG. JPMorgan Chase & Co. boosted their price target on shares of Topgolf Callaway Brands from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 12th. Truist Financial boosted their target price on Topgolf Callaway Brands from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. Zacks Research upgraded Topgolf Callaway Brands from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Topgolf Callaway Brands in a research report on Monday, December 22nd. Finally, UBS Group restated a “neutral” rating and issued a $11.00 price objective on shares of Topgolf Callaway Brands in a report on Monday, November 24th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $11.17.

Topgolf Callaway Brands Trading Down 1.0%

Shares of NYSE:MODG opened at $11.75 on Monday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.30 and a current ratio of 1.87. The stock has a market capitalization of $2.16 billion, a price-to-earnings ratio of -1.43 and a beta of 0.94. Topgolf Callaway Brands Corp. has a 1-year low of $5.42 and a 1-year high of $12.99. The company has a 50 day moving average price of $10.88 and a 200 day moving average price of $9.75.

Topgolf Callaway Brands (NYSE:MODG) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.16. The company had revenue of $465.30 million during the quarter, compared to the consensus estimate of $903.96 million. Topgolf Callaway Brands had a negative return on equity of 0.13% and a negative net margin of 37.06%.The company’s quarterly revenue was down 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.02 EPS. On average, research analysts anticipate that Topgolf Callaway Brands Corp. will post 0.16 EPS for the current fiscal year.

About Topgolf Callaway Brands

Topgolf Callaway Brands plc (NYSE: MODG) is a leading global sports and entertainment company formed through the merger of Callaway Golf Company and Topgolf Entertainment Group in July 2022. The company combines Callaway’s heritage in golf equipment design and manufacturing with Topgolf’s innovative, technology-driven entertainment venues. Topgolf Callaway Brands serves a diverse audience of golf enthusiasts, casual players and social visitors, offering experiences that span both competitive sport and leisure activities.

Under the Callaway Golf brand, the company develops and markets a broad portfolio of premium golf clubs, balls, accessories and apparel.