Palogic Value Management L.P. Has $865,000 Stock Position in Topgolf Callaway Brands Corp. (NYSE:MODG)

Palogic Value Management L.P. lessened its stake in Topgolf Callaway Brands Corp. (NYSE:MODG) by 18.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 110,000 shares of the company’s stock after selling 25,000 shares during the quarter. Palogic Value Management L.P.’s holdings in Topgolf Callaway Brands were worth $865,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of MODG. Victory Capital Management Inc. raised its position in shares of Topgolf Callaway Brands by 165.6% in the 3rd quarter. Victory Capital Management Inc. now owns 120,727 shares of the company’s stock valued at $1,326,000 after buying an additional 75,270 shares in the last quarter. Quest Partners LLC bought a new position in Topgolf Callaway Brands in the third quarter valued at approximately $161,000. Prospera Financial Services Inc acquired a new position in Topgolf Callaway Brands during the third quarter valued at approximately $211,000. Intech Investment Management LLC bought a new stake in Topgolf Callaway Brands during the third quarter worth $424,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Topgolf Callaway Brands by 8.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,995,667 shares of the company’s stock valued at $21,912,000 after purchasing an additional 148,451 shares in the last quarter. Institutional investors own 84.69% of the company’s stock.

Analyst Upgrades and Downgrades

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

Topgolf Callaway Brands Price Performance

MODG stock opened at $6.61 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.14 and a current ratio of 1.93. Topgolf Callaway Brands Corp. has a 52-week low of $5.59 and a 52-week high of $16.89. The company has a market capitalization of $1.21 billion, a P/E ratio of -82.55 and a beta of 1.70. The company has a fifty day moving average price of $7.27 and a 200-day moving average price of $8.61.

Topgolf Callaway Brands (NYSE:MODG) last announced its earnings results 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 for the quarter, compared to the consensus estimate of $1.13 billion. Topgolf Callaway Brands had a positive return on equity of 1.20% and a negative net margin of 0.29%. As a group, equities analysts expect that Topgolf Callaway Brands Corp. will post 0.16 EPS for the current year.

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.