Pathstone Holdings LLC Cuts Stock Position in Topgolf Callaway Brands Corp. (NYSE:MODG)

Pathstone Holdings LLC lowered its holdings in shares of Topgolf Callaway Brands Corp. (NYSE:MODG - Free Report) by 55.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 156,762 shares of the company's stock after selling 194,439 shares during the period. Pathstone Holdings LLC owned 0.09% of Topgolf Callaway Brands worth $1,721,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Leonard Green & Partners L.P. acquired a new position in shares of Topgolf Callaway Brands in the second quarter valued at approximately $97,173,000. Dimensional Fund Advisors LP grew its position in Topgolf Callaway Brands by 21.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,646,731 shares of the company's stock valued at $132,296,000 after buying an additional 1,549,222 shares during the last quarter. American Century Companies Inc. increased its stake in Topgolf Callaway Brands by 60.8% in the 2nd quarter. American Century Companies Inc. now owns 3,178,681 shares of the company's stock valued at $48,634,000 after buying an additional 1,202,347 shares during the period. Granite Investment Partners LLC purchased a new position in Topgolf Callaway Brands during the 2nd quarter worth $13,757,000. Finally, Harbor Capital Advisors Inc. raised its position in Topgolf Callaway Brands by 115.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,644,741 shares of the company's stock worth $18,059,000 after buying an additional 881,535 shares during the last quarter. 84.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MODG has been the topic of a number of recent analyst reports. Morgan Stanley dropped their price target on shares of Topgolf Callaway Brands from $11.00 to $10.00 and set an "underweight" rating on the stock in a research note on Thursday, August 8th. JPMorgan Chase & Co. dropped their target price on Topgolf Callaway Brands from $13.00 to $11.00 and set a "neutral" rating on the stock in a research report on Wednesday, November 13th. Bank of America cut their target price 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. Jefferies Financial Group downgraded Topgolf Callaway Brands from a "buy" rating to a "hold" rating and decreased their price target for the company from $40.00 to $12.00 in a research note on Thursday, August 29th. Finally, TD Cowen cut their price objective on Topgolf Callaway Brands from $13.00 to $10.00 and set a "hold" rating for the company in a research report on Tuesday, September 17th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Topgolf Callaway Brands has a consensus rating of "Hold" and a consensus target price of $14.92.

Topgolf Callaway Brands Price Performance

Shares of NYSE:MODG traded down $0.01 during midday trading on Thursday, hitting $8.30. 1,529,935 shares of the stock were exchanged, compared to its average volume of 2,513,896. Topgolf Callaway Brands Corp. has a twelve month low of $7.95 and a twelve month high of $16.89. The company has a current ratio of 1.93, a quick ratio of 1.14 and a debt-to-equity ratio of 0.37. The company has a 50 day moving average price of $9.82 and a 200-day moving average price of $12.37. The stock has a market cap of $1.53 billion, a P/E ratio of -103.74, a PEG ratio of 6.02 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.