Entropy Technologies LP Trims Stake in Topgolf Callaway Brands Corp. $MODG

Entropy Technologies LP cut its holdings in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) by 65.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,803 shares of the company’s stock after selling 20,163 shares during the quarter. Entropy Technologies LP’s holdings in Topgolf Callaway Brands were worth $87,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Signaturefd LLC raised its position in Topgolf Callaway Brands by 1,669.0% in the second quarter. Signaturefd LLC now owns 3,078 shares of the company’s stock valued at $25,000 after purchasing an additional 2,904 shares during the period. GAMMA Investing LLC purchased a new position in Topgolf Callaway Brands in the 2nd quarter valued at approximately $36,000. CWM LLC grew its stake in shares of Topgolf Callaway Brands by 124.0% in the second quarter. CWM LLC now owns 4,679 shares of the company’s stock worth $38,000 after acquiring an additional 2,590 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Topgolf Callaway Brands by 24.6% during the second quarter. Public Employees Retirement System of Ohio now owns 6,275 shares of the company’s stock worth $51,000 after acquiring an additional 1,240 shares during the period. Finally, FNY Investment Advisers LLC acquired a new position in Topgolf Callaway Brands during the 2nd quarter worth $53,000. 84.69% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Wall Street Zen upgraded shares of Topgolf Callaway Brands from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Zacks Research cut Topgolf Callaway Brands from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. UBS Group reaffirmed a “neutral” rating and set a $11.00 price objective on shares of Topgolf Callaway Brands in a research report on Monday. B. Riley restated a “neutral” rating and set a $11.00 target price (up previously from $9.50) on shares of Topgolf Callaway Brands in a research note on Monday, November 10th. Finally, Roth Capital reiterated a “buy” rating and issued a $14.00 price target on shares of Topgolf Callaway Brands in a research note on Wednesday, November 19th. Four equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $11.17.

Topgolf Callaway Brands Price Performance

Shares of NYSE MODG opened at $12.72 on Friday. The stock has a fifty day moving average price of $9.82 and a 200 day moving average price of $8.95. Topgolf Callaway Brands Corp. has a 1-year low of $5.42 and a 1-year high of $12.96. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.85 and a quick ratio of 1.25. The company has a market cap of $2.34 billion, a PE ratio of -1.56 and a beta of 1.19.

Topgolf Callaway Brands (NYSE:MODG) last released its earnings results on Thursday, November 6th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate 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 36.08% and a positive return on equity of 0.37%. The business’s revenue was down 7.8% on a year-over-year basis. During the same quarter last year, the business earned $0.02 EPS. Topgolf Callaway Brands has set its Q4 2025 guidance at EPS. FY 2025 guidance at EPS. Sell-side analysts forecast 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.