Prentice Capital Management LP Buys Shares of 319,379 Topgolf Callaway Brands Corp. (NYSE:MODG)

Prentice Capital Management LP acquired a new position in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 319,379 shares of the company’s stock, valued at approximately $2,510,000. Topgolf Callaway Brands makes up about 4.3% of Prentice Capital Management LP’s investment portfolio, making the stock its 8th biggest position.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Thompson Investment Management Inc. boosted its stake in Topgolf Callaway Brands by 11.1% in the fourth quarter. Thompson Investment Management Inc. now owns 362,299 shares of the company’s stock worth $2,848,000 after buying an additional 36,201 shares in the last quarter. Wealthfront Advisers LLC boosted its stake in Topgolf Callaway Brands by 589.5% in the fourth quarter. Wealthfront Advisers LLC now owns 85,807 shares of the company’s stock worth $674,000 after buying an additional 73,362 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Topgolf Callaway Brands by 14.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,286,719 shares of the company’s stock worth $17,974,000 after buying an additional 291,052 shares in the last quarter. Invesco Ltd. boosted its stake in Topgolf Callaway Brands by 41.9% in the fourth quarter. Invesco Ltd. now owns 1,591,742 shares of the company’s stock worth $12,511,000 after buying an additional 469,728 shares in the last quarter. Finally, Requisite Capital Management LLC purchased a new stake in Topgolf Callaway Brands in the fourth quarter worth approximately $2,426,000. Hedge funds and other institutional investors own 84.69% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on MODG shares. JPMorgan Chase & Co. lowered their price objective on 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. Truist Financial lowered their price objective on Topgolf Callaway Brands from $12.00 to $7.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Finally, Roth Mkm reiterated a “buy” rating and issued a $11.00 price objective (down previously from $16.00) on shares of Topgolf Callaway Brands in a research report on Tuesday, February 25th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Topgolf Callaway Brands currently has an average rating of “Hold” and a consensus price target of $11.00.

Topgolf Callaway Brands Price Performance

MODG opened at $6.54 on Thursday. The stock has a fifty day simple moving average of $6.48 and a two-hundred day simple moving average of $7.55. The company has a current ratio of 1.93, a quick ratio of 1.14 and a debt-to-equity ratio of 0.37. The company has a market cap of $1.20 billion, a price-to-earnings ratio of -81.74 and a beta of 1.25. Topgolf Callaway Brands Corp. has a 12-month low of $5.42 and a 12-month high of $16.89.

Topgolf Callaway Brands (NYSE:MODG) last posted its quarterly earnings data on Monday, May 12th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.15. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.08 billion. Topgolf Callaway Brands had a positive return on equity of 1.20% and a negative net margin of 0.29%. The firm’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.08 earnings per share. Research analysts predict that Topgolf Callaway Brands Corp. will post 0.16 earnings per share for the current fiscal 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.