Profit Investment Management LLC Has $1.65 Million Position in Topgolf Callaway Brands Corp. (NYSE:MODG)

Profit Investment Management LLC trimmed its position in Topgolf Callaway Brands Corp. (NYSE:MODG) by 37.5% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 150,170 shares of the company’s stock after selling 90,025 shares during the period. Profit Investment Management LLC owned about 0.08% of Topgolf Callaway Brands worth $1,649,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in MODG. Louisiana State Employees Retirement System boosted its stake in Topgolf Callaway Brands by 1.0% in the second quarter. Louisiana State Employees Retirement System now owns 71,100 shares of the company’s stock valued at $1,088,000 after acquiring an additional 700 shares during the last quarter. Creative Planning lifted its stake in Topgolf Callaway Brands by 6.8% in the second quarter. Creative Planning now owns 22,201 shares of the company’s stock valued at $340,000 after buying an additional 1,415 shares during the period. Texas Permanent School Fund Corp grew its position in shares of Topgolf Callaway Brands by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 124,043 shares of the company’s stock worth $2,006,000 after buying an additional 1,633 shares during the period. SG Americas Securities LLC increased its stake in shares of Topgolf Callaway Brands by 5.2% in the 2nd quarter. SG Americas Securities LLC now owns 36,961 shares of the company’s stock valued at $566,000 after acquiring an additional 1,819 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in Topgolf Callaway Brands by 2.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 78,434 shares of the company’s stock worth $1,200,000 after acquiring an additional 1,888 shares during the last quarter. 84.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MODG. Truist Financial cut their target price on shares of Topgolf Callaway Brands from $20.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. The Goldman Sachs Group reduced their target price on Topgolf Callaway Brands from $15.00 to $14.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. Roth Mkm reaffirmed a “buy” rating and set a $17.00 price target on shares of Topgolf Callaway Brands in a research report on Thursday, September 5th. TD Cowen lowered their target price on Topgolf Callaway Brands from $13.00 to $10.00 and set a “hold” rating for the company in a research note on Tuesday, September 17th. Finally, Bank of America dropped their target price on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $16.00.

Topgolf Callaway Brands Stock Performance

Shares of Topgolf Callaway Brands stock traded up $0.37 during trading on Friday, hitting $10.28. 410,884 shares of the stock were exchanged, compared to its average volume of 2,533,147. Topgolf Callaway Brands Corp. has a 1-year low of $9.05 and a 1-year high of $16.89. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of 99.01, a price-to-earnings-growth ratio of 6.42 and a beta of 1.75. The company has a fifty day moving average price of $10.89 and a 200-day moving average price of $13.93. The company has a current ratio of 1.93, a quick ratio of 1.15 and a debt-to-equity ratio of 0.37.

Topgolf Callaway Brands (NYSE:MODG) last issued its earnings results on Wednesday, August 7th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.28 by $0.14. Topgolf Callaway Brands had a return on equity of 2.07% and a net margin of 0.50%. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the previous year, the company posted $0.39 EPS. The firm’s revenue for the quarter was down 1.9% compared to the same quarter last year. As a group, equities analysts predict that Topgolf Callaway Brands Corp. will post 0.18 EPS for the current fiscal 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.