Topgolf Callaway Brands Corp. (NYSE:MODG) Shares Sold by Hodges Capital Management Inc.

Hodges Capital Management Inc. decreased its holdings in Topgolf Callaway Brands Corp. (NYSE:MODG - Free Report) by 96.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,000 shares of the company's stock after selling 466,279 shares during the quarter. Hodges Capital Management Inc.'s holdings in Topgolf Callaway Brands were worth $141,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in MODG. KBC Group NV raised its stake in shares of Topgolf Callaway Brands by 81.8% during the 4th quarter. KBC Group NV now owns 8,330 shares of the company's stock valued at $65,000 after buying an additional 3,749 shares during the last quarter. Requisite Capital Management LLC purchased a new position in shares of Topgolf Callaway Brands during the 4th quarter valued at about $2,426,000. SG Americas Securities LLC purchased a new position in shares of Topgolf Callaway Brands during the 4th quarter valued at about $433,000. Crossmark Global Holdings Inc. raised its stake in shares of Topgolf Callaway Brands by 7.8% during the 4th quarter. Crossmark Global Holdings Inc. now owns 37,329 shares of the company's stock valued at $293,000 after buying an additional 2,712 shares during the last quarter. Finally, Harbor Capital Advisors Inc. raised its stake in shares of Topgolf Callaway Brands by 14.7% during the 4th quarter. Harbor Capital Advisors Inc. now owns 1,886,496 shares of the company's stock valued at $14,828,000 after buying an additional 241,755 shares during the last quarter. Institutional investors and hedge funds own 84.69% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on MODG shares. The Goldman Sachs Group 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, November 14th. Truist Financial cut their price target on Topgolf Callaway Brands from $14.00 to $12.00 and set a "buy" rating for the company in a research note on Tuesday, January 7th. B. Riley lowered Topgolf Callaway Brands from a "buy" rating to a "neutral" rating and cut their price target for the company from $18.00 to $12.00 in a research note on Thursday, October 17th. JPMorgan Chase & Co. cut their price target on Topgolf Callaway Brands from $11.00 to $9.00 and set a "neutral" rating for the company in a research note on Thursday, January 23rd. Finally, Roth Mkm restated a "buy" rating and issued a $16.00 price target (down previously from $17.00) on shares of Topgolf Callaway Brands in a research note on Thursday, November 14th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Topgolf Callaway Brands has an average rating of "Hold" and a consensus price target of $14.67.

Topgolf Callaway Brands Price Performance

Shares of Topgolf Callaway Brands stock traded up $0.04 on Wednesday, hitting $8.08. 825,355 shares of the company were exchanged, compared to its average volume of 2,929,782. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of -101.05 and a beta of 1.70. The company has a 50-day moving average price of $8.15 and a 200 day moving average price of $9.94. Topgolf Callaway Brands Corp. has a 1-year low of $7.22 and a 1-year high of $16.89. The company has a quick ratio of 1.14, a current ratio of 1.93 and a debt-to-equity ratio of 0.37.

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.