Topgolf Callaway Brands (MODG)

• Market cap: $1.29B
• 1 day: -3.04%
• 5 days: -9.31%
• 1 month: -18.30%
• 3 months: -18.49%
• 6 months: -39.93%
• Year to date: -22.11%
• 1 year: -51.12%
• 5 years: -68.62%
• 10 years: -68.62%
• Sector: Consumer Discretionary
• Industry: Sporting & Athletic Goods

About: Topgolf Callaway Brands Corp is a modern golf and active lifestyle company that provides world-class golf entertainment experiences, designs and manufactures premium golf equipment, and sells golf and active lifestyle apparel and other accessories through brands such as, Topgolf, Callaway Golf, Odyssey, TravisMathew, Jack Wolfskin, OGIO and Toptracer. The company's reportable segments are; Topgolf, Golf Equipment and Active Lifestyle. Majority of the revenue is generated from its Topgolf segment which is predominantly comprised of service revenues and expenses from the company operated Topgolf venues, Toptracer ball-flight tracking technology, and WGT digital golf game. Geographically, majority of the revenue for the company is derived from United States.

Employees: 32,000

Fund manager confidence

Based on 2024 Q4 regulatory filings by fund managers ($100M+ AUM)

4% more first-time investments, than exits

New positions opened: 55 | Existing positions closed: 53

1.62% less ownership

Funds ownership: 86.89% [Q3] → 85.27% (-1.62%) [Q4]

4% less funds holding

Funds holding: 291 [Q3] → 280 (-11) [Q4]

16% less repeat investments, than reductions

Existing positions increased: 80 | Existing positions reduced: 95

30% less capital invested

Capital invested by funds: $1.75B [Q3] → $1.24B (-$518M) [Q4]

33% less funds holding in top 10

Funds holding in top 10: 6 [Q3] → 4 (-2) [Q4]

47% less call options, than puts

Call options by funds: $10.4M | Put options by funds: $19.8M

Research analyst outlook

3 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $9 28% upside
• Avg. target: $11.33 62% upside
• High target: $13 85% upside

3 analyst ratings

• positive: 2 67%
• neutral: 1 33%
• negative: 0 0%

JP Morgan Matthew Boss 52% 1-year accuracy 40 / 77 met price target	28% upside $9	Neutral Maintained	23 Jan 2025
Truist Securities Michael Swartz 36% 1-year accuracy 17 / 47 met price target	71% upside $12	Buy Maintained	7 Jan 2025
Jefferies Randal Konik 40% 1-year accuracy 4 / 10 met price target	85% upside $13	Buy Upgraded	2 Jan 2025