Topgolf Callaway Brands Corp. $MODG Shares Bought by O Keefe Stevens Advisory Inc.

O Keefe Stevens Advisory Inc. increased its holdings in Topgolf Callaway Brands Corp. (NYSE:MODG) by 2,528.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 347,008 shares of the company’s stock after acquiring an additional 333,806 shares during the period. Topgolf Callaway Brands comprises about 0.9% of O Keefe Stevens Advisory Inc.’s holdings, making the stock its 23rd largest holding. O Keefe Stevens Advisory Inc. owned approximately 0.19% of Topgolf Callaway Brands worth $3,297,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Inspire Investing LLC acquired a new position in Topgolf Callaway Brands in the 1st quarter valued at approximately $346,000. Bryce Point Capital LLC purchased a new stake in shares of Topgolf Callaway Brands during the second quarter worth $762,000. AlphaQuest LLC grew its holdings in Topgolf Callaway Brands by 353.9% during the second quarter. AlphaQuest LLC now owns 96,433 shares of the company’s stock valued at $776,000 after purchasing an additional 75,187 shares during the last quarter. Bayforest Capital Ltd raised its position in shares of Topgolf Callaway Brands by 99.5% in the first quarter. Bayforest Capital Ltd now owns 58,135 shares of the company’s stock valued at $383,000 after purchasing an additional 28,998 shares during the period. Finally, Hill Path Capital LP acquired a new stake in shares of Topgolf Callaway Brands in the second quarter worth $37,722,000. Hedge funds and other institutional investors own 84.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on MODG shares. UBS Group reiterated a “neutral” rating and issued a $11.00 target price on shares of Topgolf Callaway Brands in a research note on Monday, November 24th. JPMorgan Chase & Co. raised their price target on Topgolf Callaway Brands from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Wednesday, November 12th. Zacks Research raised Topgolf Callaway Brands from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Topgolf Callaway Brands in a report on Monday, December 15th. Finally, Roth Capital reaffirmed a “buy” rating and set a $14.00 price objective on shares of Topgolf Callaway Brands in a research report on Wednesday, November 19th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $11.17.

Topgolf Callaway Brands Stock Performance

NYSE:MODG opened at $11.81 on Tuesday. The firm has a market capitalization of $2.17 billion, a PE ratio of -1.44 and a beta of 0.94. The company has a quick ratio of 1.30, a current ratio of 1.87 and a debt-to-equity ratio of 0.60. Topgolf Callaway Brands Corp. has a 12-month low of $5.42 and a 12-month high of $12.99. The firm has a 50-day moving average price of $10.67 and a 200 day moving average price of $9.62.

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

Topgolf Callaway Brands Profile

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.