O Keefe Stevens Advisory Inc. Purchases 333,806 Shares of Topgolf Callaway Brands Corp. $MODG

O Keefe Stevens Advisory Inc. increased its position in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) by 2,528.5% in the third quarter, HoldingsChannel reports. The firm owned 347,008 shares of the company’s stock after purchasing an additional 333,806 shares during the period. Topgolf Callaway Brands makes up approximately 0.9% of O Keefe Stevens Advisory Inc.’s investment portfolio, making the stock its 23rd biggest holding. O Keefe Stevens Advisory Inc.’s holdings in Topgolf Callaway Brands were worth $3,297,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Marshall Wace LLP increased its holdings in shares of Topgolf Callaway Brands by 10,113.7% during the second quarter. Marshall Wace LLP now owns 4,691,786 shares of the company’s stock worth $37,769,000 after buying an additional 4,645,850 shares in the last quarter. Hill Path Capital LP acquired a new stake in Topgolf Callaway Brands during the 2nd quarter valued at $37,722,000. Long Focus Capital Management LLC increased its holdings in Topgolf Callaway Brands by 44.8% during the 1st quarter. Long Focus Capital Management LLC now owns 2,950,844 shares of the company’s stock valued at $19,446,000 after purchasing an additional 912,844 shares in the last quarter. Alliancebernstein L.P. raised its position in Topgolf Callaway Brands by 7.5% in the 2nd quarter. Alliancebernstein L.P. now owns 2,814,292 shares of the company’s stock valued at $22,655,000 after purchasing an additional 195,684 shares during the last quarter. Finally, Balyasny Asset Management L.P. boosted its stake in Topgolf Callaway Brands by 36.7% in the second 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 in the last quarter. 84.69% of the stock is currently owned by institutional investors and hedge funds.

Topgolf Callaway Brands Trading Down 3.2%

NYSE:MODG opened at $11.81 on Tuesday. The company has a current ratio of 1.87, a quick ratio of 1.30 and a debt-to-equity ratio of 0.60. Topgolf Callaway Brands Corp. has a 1-year low of $5.42 and a 1-year high of $12.99. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of -1.44 and a beta of 0.94. The business’s 50-day moving average price is $10.67 and its two-hundred day moving average price is $9.62.

Topgolf Callaway Brands (NYSE:MODG) last posted its earnings results on Thursday, November 6th. The company reported ($0.05) earnings per share (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 analyst estimates of $903.96 million. Topgolf Callaway Brands had a negative return on equity of 0.13% and a negative net margin of 37.06%.The company’s revenue for the quarter was down 7.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.02 EPS. On average, equities analysts expect that Topgolf Callaway Brands Corp. will post 0.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Roth Capital reaffirmed a “buy” rating and issued a $14.00 price target on shares of Topgolf Callaway Brands in a report on Wednesday, November 19th. Truist Financial upped their target price on shares of Topgolf Callaway Brands from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. UBS Group reissued a “neutral” rating and issued a $11.00 target price on shares of Topgolf Callaway Brands in a research note on Monday, November 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Topgolf Callaway Brands in a report on Monday, December 15th. Finally, B. Riley reissued a “neutral” rating and set a $11.00 price objective (up from $9.50) on shares of Topgolf Callaway Brands in a report on Monday, November 10th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $11.17.

About Topgolf Callaway Brands

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.