Thompson Investment Management Inc. raised its stake in shares of Topgolf Callaway Brands Corp. (NYSE:MODG - Free Report) by 11.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 362,299 shares of the company's stock after purchasing an additional 36,201 shares during the period. Thompson Investment Management Inc. owned 0.20% of Topgolf Callaway Brands worth $2,848,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. KBC Group NV raised its holdings in shares of Topgolf Callaway Brands by 81.8% in the fourth quarter. KBC Group NV now owns 8,330 shares of the company's stock worth $65,000 after buying an additional 3,749 shares during the period. nVerses Capital LLC purchased a new stake in shares of Topgolf Callaway Brands in the third quarter worth approximately $133,000. Quest Partners LLC purchased a new stake in shares of Topgolf Callaway Brands in the third quarter worth approximately $161,000. International Assets Investment Management LLC raised its holdings in shares of Topgolf Callaway Brands by 998.0% in the third quarter. International Assets Investment Management LLC now owns 15,032 shares of the company's stock worth $165,000 after buying an additional 13,663 shares during the period. Finally, Park Avenue Securities LLC raised its holdings in shares of Topgolf Callaway Brands by 13.5% in the third quarter. Park Avenue Securities LLC now owns 16,679 shares of the company's stock worth $183,000 after buying an additional 1,985 shares during the period. 84.69% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE MODG opened at $7.60 on Friday. 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 stock has a market capitalization of $1.40 billion, a PE ratio of -94.93 and a beta of 1.70. Topgolf Callaway Brands Corp. has a 12-month low of $7.22 and a 12-month high of $16.89. The stock's fifty day simple moving average is $8.13 and its two-hundred day simple moving average is $9.82.
Several brokerages have recently weighed in on MODG. The Goldman Sachs Group reduced their price target on Topgolf Callaway Brands from $14.00 to $12.00 and set a "neutral" rating on the stock in a report on Thursday, November 14th. Truist Financial reduced their price objective on Topgolf Callaway Brands from $14.00 to $12.00 and set a "buy" rating on the stock in a report on Tuesday, January 7th. Roth Mkm restated a "buy" rating and set a $16.00 price objective (down from $17.00) on shares of Topgolf Callaway Brands in a report on Thursday, November 14th. Jefferies Financial Group upgraded Topgolf Callaway Brands from a "hold" rating to a "buy" rating and raised their price objective for the stock from $11.00 to $13.00 in a report on Thursday, January 2nd. Finally, B. Riley downgraded Topgolf Callaway Brands from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $18.00 to $12.00 in a report on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $14.67.
Read Our Latest Research Report on Topgolf Callaway Brands
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.
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