Topgolf Callaway Brands Corp. (NYSE:MODG) Shares Sold by Hollencrest Capital Management

Hollencrest Capital Management trimmed its stake in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) by 57.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,403 shares of the company’s stock after selling 34,597 shares during the period. Hollencrest Capital Management’s holdings in Topgolf Callaway Brands were worth $200,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Asset Planning Inc acquired a new stake in Topgolf Callaway Brands in the fourth quarter valued at approximately $33,000. KBC Group NV grew its holdings in Topgolf Callaway Brands by 81.8% in the fourth quarter. KBC Group NV now owns 8,330 shares of the company’s stock valued at $65,000 after purchasing an additional 3,749 shares during the period. PNC Financial Services Group Inc. grew its holdings in 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 valued at $108,000 after purchasing an additional 8,672 shares during the period. Quest Partners LLC acquired a new stake in Topgolf Callaway Brands in the third quarter valued at approximately $161,000. Finally, Paloma Partners Management Co acquired a new stake in Topgolf Callaway Brands in the third quarter valued at approximately $200,000. 84.69% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MODG has been the topic of several research analyst reports. The Goldman Sachs Group dropped their price objective on Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, November 14th. Jefferies Financial Group raised Topgolf Callaway Brands from a “hold” rating to a “buy” rating and raised their price objective for the company from $11.00 to $13.00 in a report on Thursday, January 2nd. 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 research note on Thursday, January 23rd. Roth Mkm reaffirmed a “buy” rating and issued a $11.00 price target (down from $16.00) on shares of Topgolf Callaway Brands in a research note on Tuesday, February 25th. Finally, 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. Two research 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’s stock. According to data from MarketBeat.com, Topgolf Callaway Brands has an average rating of “Hold” and an average target price of $13.91.

Topgolf Callaway Brands Stock Performance

Shares of Topgolf Callaway Brands stock opened at $6.15 on Thursday. Topgolf Callaway Brands Corp. has a one year low of $5.59 and a one year high of $16.89. The company has a market cap of $1.13 billion, a price-to-earnings ratio of -76.80 and a beta of 1.70. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.14 and a current ratio of 1.93. The business’s 50 day moving average price is $7.58 and its 200 day moving average price is $8.77.

Topgolf Callaway Brands (NYSE:MODG) last announced its quarterly earnings data 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 firm had revenue of $924.40 million for the quarter, compared to the consensus estimate of $1.13 billion. On average, research analysts predict that Topgolf Callaway Brands Corp. will post 0.16 EPS for the current year.

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.