Grace & White Inc. NY decreased its holdings in shares of Topgolf Callaway Brands Corp. (NYSE:MODG - Free Report) by 11.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 581,344 shares of the company's stock after selling 78,150 shares during the period. Grace & White Inc. NY owned approximately 0.32% of Topgolf Callaway Brands worth $4,569,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently made changes to their positions in the business. Creative Planning grew its holdings in shares of Topgolf Callaway Brands by 6.8% in the 2nd quarter. Creative Planning now owns 22,201 shares of the company's stock worth $340,000 after acquiring an additional 1,415 shares during the last quarter. Truist Financial Corp increased its stake in Topgolf Callaway Brands by 63.9% in the 2nd quarter. Truist Financial Corp now owns 45,972 shares of the company's stock worth $703,000 after purchasing an additional 17,931 shares in the last quarter. nVerses Capital LLC acquired a new stake in Topgolf Callaway Brands during the 3rd quarter worth about $133,000. Everence Capital Management Inc. lifted its stake in Topgolf Callaway Brands by 63.1% during the third quarter. Everence Capital Management Inc. now owns 27,900 shares of the company's stock valued at $306,000 after buying an additional 10,790 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its stake in Topgolf Callaway Brands by 998.0% during the third quarter. International Assets Investment Management LLC now owns 15,032 shares of the company's stock valued at $165,000 after buying an additional 13,663 shares in the last quarter. Institutional investors and hedge funds own 84.69% of the company's stock.
Topgolf Callaway Brands Trading Down 4.6 %
MODG traded down $0.35 during midday trading on Friday, hitting $7.24. 2,788,824 shares of the company's stock traded hands, compared to its average volume of 2,462,198. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 1.14. Topgolf Callaway Brands Corp. has a one year low of $7.13 and a one year high of $16.89. The stock's fifty day simple moving average is $8.04 and its 200-day simple moving average is $9.52.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group upgraded shares of Topgolf Callaway Brands from a "hold" rating to a "buy" rating and boosted their price target for the company from $11.00 to $13.00 in a report on Thursday, January 2nd. Roth Mkm restated a "buy" rating and issued a $16.00 target price (down previously from $17.00) on shares of Topgolf Callaway Brands in a report on Thursday, November 14th. Truist Financial dropped their price target on Topgolf Callaway Brands from $14.00 to $12.00 and set a "buy" rating on the stock in a research report on Tuesday, January 7th. The Goldman Sachs Group lowered their target price on Topgolf Callaway Brands from $14.00 to $12.00 and set a "neutral" rating on the stock in a research note on Thursday, November 14th. Finally, JPMorgan Chase & Co. dropped their target price on Topgolf Callaway Brands from $11.00 to $9.00 and set a "neutral" rating on the stock in a report on Thursday, January 23rd. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $14.36.
Check Out Our Latest Research Report on Topgolf Callaway Brands
About Topgolf Callaway Brands
(
Free Report)
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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