LGT Capital Partners LTD. Makes New Investment in Topgolf Callaway Brands Corp. (NYSE:MODG)

LGT Capital Partners LTD. acquired a new stake in Topgolf Callaway Brands Corp. (NYSE:MODG - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 600,000 shares of the company's stock, valued at approximately $6,588,000. LGT Capital Partners LTD. owned about 0.33% of Topgolf Callaway Brands as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of MODG. Fifth Third Bancorp grew its stake in shares of Topgolf Callaway Brands by 327.6% in the 2nd 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 period. nVerses Capital LLC acquired a new position in shares of Topgolf Callaway Brands during the 3rd quarter worth approximately $133,000. Dnca Finance acquired a new stake in shares of Topgolf Callaway Brands in the 2nd quarter valued at $134,000. Koss Olinger Consulting LLC bought a new position in Topgolf Callaway Brands in the second quarter valued at about $160,000. Finally, Simon Quick Advisors LLC acquired a new position in shares of Topgolf Callaway Brands in the second quarter worth approximately $161,000. 84.69% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MODG has been the topic of a number of recent analyst reports. KeyCorp cut Topgolf Callaway Brands from an "overweight" rating to a "sector weight" rating in a research note on Thursday, August 8th. The Goldman Sachs Group reduced their price objective on shares of 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. Raymond James lowered Topgolf Callaway Brands from an "outperform" rating to an "underperform" rating in a research note on Friday, August 23rd. Jefferies Financial Group cut Topgolf Callaway Brands from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $40.00 to $12.00 in a research note on Thursday, August 29th. Finally, Roth Mkm restated a "buy" rating and issued a $16.00 price target (down from $17.00) on shares of Topgolf Callaway Brands in a research report on Thursday, November 14th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Topgolf Callaway Brands currently has a consensus rating of "Hold" and an average price target of $14.92.

Topgolf Callaway Brands Price Performance

Shares of NYSE MODG traded up $0.44 during mid-day trading on Tuesday, reaching $8.60. The company had a trading volume of 2,056,538 shares, compared to its average volume of 2,513,377. Topgolf Callaway Brands Corp. has a one year low of $7.96 and a one year high of $16.89. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.14 and a current ratio of 1.93. The business's 50-day simple moving average is $10.02 and its 200 day simple moving average is $12.72. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of -101.61, a PEG ratio of 5.89 and a beta of 1.75.

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.