Squarepoint Ops LLC Sells 450,745 Shares of Topgolf Callaway Brands Corp. $MODG

Squarepoint Ops LLC decreased its position in Topgolf Callaway Brands Corp. (NYSE:MODG) by 47.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 493,506 shares of the company’s stock after selling 450,745 shares during the quarter. Squarepoint Ops LLC owned approximately 0.27% of Topgolf Callaway Brands worth $3,973,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. Hill Path Capital LP acquired a new position in Topgolf Callaway Brands in the 2nd quarter valued at $37,722,000. Marshall Wace LLP grew its position in shares of Topgolf Callaway Brands by 10,113.7% in the second quarter. Marshall Wace LLP now owns 4,691,786 shares of the company’s stock valued at $37,769,000 after purchasing an additional 4,645,850 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Topgolf Callaway Brands by 448.3% in the second quarter. American Century Companies Inc. now owns 1,314,939 shares of the company’s stock worth $10,585,000 after purchasing an additional 1,075,115 shares during the period. Long Focus Capital Management LLC increased its stake in shares of Topgolf Callaway Brands by 44.8% in the first quarter. Long Focus Capital Management LLC now owns 2,950,844 shares of the company’s stock worth $19,446,000 after purchasing an additional 912,844 shares during the period. Finally, Balyasny Asset Management L.P. lifted its position in shares of Topgolf Callaway Brands by 36.7% during the 2nd quarter. Balyasny Asset Management L.P. now owns 2,528,734 shares of the company’s stock worth $20,356,000 after purchasing an additional 678,822 shares during the last quarter. 84.69% of the stock is owned by institutional investors.

Topgolf Callaway Brands Stock Down 1.1%

Shares of MODG stock opened at $11.41 on Wednesday. Topgolf Callaway Brands Corp. has a one year low of $5.42 and a one year high of $12.99. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.87 and a quick ratio of 1.30. The stock has a fifty day moving average price of $10.43 and a 200 day moving average price of $9.46. The stock has a market cap of $2.10 billion, a P/E ratio of -1.39 and a beta of 0.93.

Topgolf Callaway Brands (NYSE:MODG) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.05) earnings per share (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 analysts’ expectations of $903.96 million. Topgolf Callaway Brands had a negative net margin of 37.06% and a negative return on equity of 0.13%. The business’s revenue was down 7.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.02 EPS. Analysts predict that Topgolf Callaway Brands Corp. will post 0.16 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MODG. Roth Capital reaffirmed a “buy” rating and issued a $14.00 target price on shares of Topgolf Callaway Brands in a report on Wednesday, November 19th. Weiss Ratings restated a “sell (d-)” rating on shares of Topgolf Callaway Brands in a research note on Monday. B. Riley reiterated a “neutral” rating and set a $11.00 target price (up from $9.50) on shares of Topgolf Callaway Brands in a research note on Monday, November 10th. UBS Group reissued a “neutral” rating and issued a $11.00 price target on shares of Topgolf Callaway Brands in a report on Monday, November 24th. Finally, Zacks Research upgraded shares of Topgolf Callaway Brands from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 3rd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $11.17.

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.