Blueshift Asset Management LLC Has $1.46 Million Stake in Topgolf Callaway Brands Corp. (NYSE:MODG)

Blueshift Asset Management LLC grew its stake in shares of Topgolf Callaway Brands Corp. (NYSE:MODG - Free Report) by 965.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 133,218 shares of the company's stock after purchasing an additional 120,719 shares during the period. Blueshift Asset Management LLC owned about 0.07% of Topgolf Callaway Brands worth $1,463,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of MODG. Fifth Third Bancorp lifted its holdings in shares of Topgolf Callaway Brands by 327.6% during the second quarter. Fifth Third Bancorp now owns 2,527 shares of the company's stock valued at $39,000 after purchasing an additional 1,936 shares during the last quarter. nVerses Capital LLC purchased a new stake in shares of Topgolf Callaway Brands during the third quarter valued at $133,000. Dnca Finance purchased a new stake in shares of Topgolf Callaway Brands during the second quarter valued at $134,000. Koss Olinger Consulting LLC purchased a new stake in shares of Topgolf Callaway Brands during the second quarter valued at $160,000. Finally, Simon Quick Advisors LLC purchased a new stake in shares of Topgolf Callaway Brands during the second quarter valued at $161,000. 84.69% of the stock is owned by hedge funds and other institutional investors.

Topgolf Callaway Brands Stock Down 0.1 %

MODG stock traded down $0.01 during mid-day trading on Wednesday, hitting $8.30. The stock had a trading volume of 1,521,958 shares, compared to its average volume of 2,513,867. The company has a current ratio of 1.93, a quick ratio of 1.14 and a debt-to-equity ratio of 0.37. Topgolf Callaway Brands Corp. has a 1-year low of $7.95 and a 1-year high of $16.89. The company has a fifty day moving average of $9.87 and a 200 day moving average of $12.40. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of -103.74, a PEG ratio of 6.02 and a beta of 1.75.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Roth Mkm reissued a "buy" rating and issued a $16.00 price objective (down from $17.00) on shares of Topgolf Callaway Brands in a research note on Thursday, November 14th. KeyCorp downgraded Topgolf Callaway Brands from an "overweight" rating to a "sector weight" rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. reduced their price objective on Topgolf Callaway Brands from $13.00 to $11.00 and set a "neutral" rating for the company in a research note on Wednesday, November 13th. Bank of America reduced their price objective on Topgolf Callaway Brands from $14.00 to $12.00 and set a "neutral" rating for the company in a research note on Thursday, September 12th. Finally, Raymond James downgraded Topgolf Callaway Brands from an "outperform" rating to an "underperform" rating in a research note on Friday, August 23rd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $14.92.

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.