Janney Montgomery Scott LLC Sells 45,921 Shares of Topgolf Callaway Brands Corp. (NYSE:MODG)

Janney Montgomery Scott LLC decreased its stake in shares of Topgolf Callaway Brands Corp. (NYSE:MODG - Free Report) by 81.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,748 shares of the company's stock after selling 45,921 shares during the period. Janney Montgomery Scott LLC's holdings in Topgolf Callaway Brands were worth $84,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in Topgolf Callaway Brands during the 4th quarter worth about $433,000. Crossmark Global Holdings Inc. raised its holdings in Topgolf Callaway Brands by 7.8% during the 4th quarter. Crossmark Global Holdings Inc. now owns 37,329 shares of the company's stock worth $293,000 after purchasing an additional 2,712 shares during the last quarter. Harbor Capital Advisors Inc. raised its holdings in 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 worth $14,828,000 after purchasing an additional 241,755 shares during the last quarter. Sterneck Capital Management LLC raised its holdings in Topgolf Callaway Brands by 31.0% during the 4th quarter. Sterneck Capital Management LLC now owns 28,672 shares of the company's stock worth $225,000 after purchasing an additional 6,786 shares during the last quarter. Finally, Tidal Investments LLC raised its holdings in Topgolf Callaway Brands by 35.7% during the 3rd quarter. Tidal Investments LLC now owns 22,302 shares of the company's stock worth $245,000 after purchasing an additional 5,862 shares during the last quarter. Institutional investors and hedge funds own 84.69% of the company's stock.

Topgolf Callaway Brands Stock Down 4.6 %

NYSE:MODG traded down $0.35 during trading hours on Monday, reaching $7.24. 2,788,824 shares of the stock were exchanged, compared to its average volume of 2,462,198. Topgolf Callaway Brands Corp. has a twelve month low of $7.13 and a twelve month high of $16.89. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 1.14. The firm has a 50 day moving average of $8.02 and a 200 day moving average of $9.41. The stock has a market cap of $1.33 billion, a PE ratio of -90.43 and a beta of 1.70.

Analysts Set New Price Targets

Several analysts have weighed in on the company. The Goldman Sachs Group dropped their price objective on Topgolf Callaway Brands from $14.00 to $12.00 and set a "neutral" rating for the company in a report on Thursday, November 14th. Truist Financial lowered 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. Roth Mkm reaffirmed a "buy" rating and issued a $16.00 price target (down from $17.00) on shares of Topgolf Callaway Brands in a research note on Thursday, November 14th. Jefferies Financial Group raised Topgolf Callaway Brands from a "hold" rating to a "buy" rating and upped their price target for the company from $11.00 to $13.00 in a research note on Thursday, January 2nd. Finally, JPMorgan Chase & Co. lowered 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. 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 company. According to data from MarketBeat.com, Topgolf Callaway Brands has an average rating of "Hold" and an average target price of $14.36.

Topgolf Callaway Brands Company 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.