176,126 Shares in Topgolf Callaway Brands Corp. (NYSE:MODG) Acquired by PDT Partners LLC

PDT Partners LLC acquired a new position in shares of Topgolf Callaway Brands Corp. (NYSE:MODG - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 176,126 shares of the company's stock, valued at approximately $1,934,000. PDT Partners LLC owned approximately 0.10% of Topgolf Callaway Brands at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its holdings in shares of Topgolf Callaway Brands by 21.8% in the second quarter. Dimensional Fund Advisors LP now owns 8,646,731 shares of the company's stock valued at $132,296,000 after purchasing an additional 1,549,222 shares in the last quarter. Leonard Green & Partners L.P. purchased a new stake in shares of Topgolf Callaway Brands in the second quarter valued at about $97,173,000. American Century Companies Inc. lifted its stake in shares of Topgolf Callaway Brands by 60.8% during the second 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. Charles Schwab Investment Management Inc. lifted its stake in shares of Topgolf Callaway Brands by 8.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,995,667 shares of the company's stock valued at $21,912,000 after buying an additional 148,451 shares during the period. Finally, Bwcp LP lifted its stake in shares of Topgolf Callaway Brands by 20.3% during the second quarter. Bwcp LP now owns 1,853,048 shares of the company's stock valued at $28,352,000 after buying an additional 312,836 shares during the period. Hedge funds and other institutional investors own 84.69% of the company's stock.

Wall Street Analyst Weigh In

MODG has been the topic of several recent analyst reports. KeyCorp downgraded shares of Topgolf Callaway Brands from an "overweight" rating to a "sector weight" rating in a research note on Thursday, August 8th. Morgan Stanley reduced their price objective 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. Jefferies Financial Group downgraded shares of Topgolf Callaway Brands from a "buy" rating to a "hold" rating and reduced their price objective for the company from $40.00 to $12.00 in a research note on Thursday, August 29th. Raymond James lowered shares of Topgolf Callaway Brands from an "outperform" rating to an "underperform" rating in a research report on Friday, August 23rd. Finally, Roth Mkm reissued a "buy" rating and issued a $16.00 price objective (down previously from $17.00) on shares of Topgolf Callaway Brands in a research report on Thursday, November 14th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, Topgolf Callaway Brands has an average rating of "Hold" and an average price target of $14.92.

Topgolf Callaway Brands Price Performance

Shares of MODG traded up $0.12 during mid-day trading on Friday, hitting $8.42. The company's stock had a trading volume of 914,449 shares, compared to its average volume of 2,532,860. The firm has a 50-day moving average price of $9.72 and a 200 day moving average price of $12.28. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of -105.24, a PEG ratio of 5.73 and a beta of 1.75. 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 fifty-two week low of $7.95 and a fifty-two week high of $16.89.

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.