Quantbot Technologies LP Purchases New Stake in Topgolf Callaway Brands Corp. (NYSE:MODG)

Quantbot Technologies LP acquired a new stake in shares of Topgolf Callaway Brands Corp. (NYSE:MODG - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 149,855 shares of the company's stock, valued at approximately $1,645,000. Quantbot Technologies LP owned about 0.08% of Topgolf Callaway Brands as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in MODG. Fifth Third Bancorp raised its holdings in Topgolf Callaway Brands by 327.6% during the second quarter. Fifth Third Bancorp now owns 2,527 shares of the company's stock worth $39,000 after purchasing an additional 1,936 shares in the last quarter. nVerses Capital LLC purchased 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 approximately $134,000. Koss Olinger Consulting LLC purchased a new stake in shares of Topgolf Callaway Brands in the second quarter valued at approximately $160,000. Finally, Simon Quick Advisors LLC acquired a new position in Topgolf Callaway Brands during the second quarter worth $161,000. 84.69% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on MODG shares. JPMorgan Chase & Co. lowered their price target on shares of Topgolf Callaway Brands from $13.00 to $11.00 and set a "neutral" rating on the stock in a research note on Wednesday, November 13th. Truist Financial lowered their target price on shares of Topgolf Callaway Brands from $16.00 to $14.00 and set a "buy" rating on the stock in a research report on Wednesday, November 13th. Jefferies Financial Group downgraded shares of Topgolf Callaway Brands from a "buy" rating to a "hold" rating and reduced their price target for the company from $40.00 to $12.00 in a research report on Thursday, August 29th. TD Cowen lowered their price target on Topgolf Callaway Brands from $13.00 to $10.00 and set a "hold" rating on the stock in a report on Tuesday, September 17th. Finally, Bank of America reduced 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, September 12th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $14.92.

Topgolf Callaway Brands Trading Up 1.4 %

NYSE:MODG traded up $0.12 on Friday, reaching $8.42. The stock had a trading volume of 914,449 shares, compared to its average volume of 2,506,978. Topgolf Callaway Brands Corp. has a 12-month low of $7.95 and a 12-month high of $16.89. The company has a market cap of $1.55 billion, a price-to-earnings ratio of -105.24, a P/E/G ratio of 5.64 and a beta of 1.75. The firm's fifty day moving average is $9.72 and its two-hundred day moving average is $12.28. 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 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.