SG Americas Securities LLC Makes New Investment in Topgolf Callaway Brands Corp. (NYSE:MODG)

SG Americas Securities LLC acquired a new position in shares of Topgolf Callaway Brands Corp. (NYSE:MODG - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 55,092 shares of the company's stock, valued at approximately $433,000.

Other large investors also recently made changes to their positions in the company. nVerses Capital LLC bought a new position in shares of Topgolf Callaway Brands in the third quarter valued at $133,000. Quest Partners LLC bought a new position in Topgolf Callaway Brands in the 3rd quarter valued at about $161,000. International Assets Investment Management LLC boosted its stake in Topgolf Callaway Brands by 998.0% during the 3rd quarter. International Assets Investment Management LLC now owns 15,032 shares of the company's stock valued at $165,000 after purchasing an additional 13,663 shares during the last quarter. Park Avenue Securities LLC raised its stake in shares of Topgolf Callaway Brands by 13.5% in the third quarter. Park Avenue Securities LLC now owns 16,679 shares of the company's stock worth $183,000 after purchasing an additional 1,985 shares during the last quarter. Finally, Lansing Street Advisors bought a new position in shares of Topgolf Callaway Brands in the third quarter valued at approximately $187,000. 84.69% of the stock is currently owned by institutional investors and hedge funds.

Topgolf Callaway Brands Stock Performance

NYSE MODG traded down $0.10 during trading hours on Thursday, hitting $7.99. The company's stock had a trading volume of 1,697,320 shares, compared to its average volume of 2,925,729. Topgolf Callaway Brands Corp. has a 12 month low of $7.22 and a 12 month high of $16.89. The company's 50 day simple moving average is $8.14 and its two-hundred day simple moving average is $9.91. 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 company has a market cap of $1.47 billion, a P/E ratio of -99.90 and a beta of 1.70.

Wall Street Analysts Forecast Growth

MODG has been the topic of a number of research analyst reports. The Goldman Sachs Group cut their price target on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a "neutral" rating on the stock in a report on Thursday, November 14th. B. Riley cut shares of Topgolf Callaway Brands from a "buy" rating to a "neutral" rating and dropped their target price for the company from $18.00 to $12.00 in a research note on Thursday, October 17th. Jefferies Financial Group raised shares of Topgolf Callaway Brands from a "hold" rating to a "buy" rating and lifted their price target for the stock from $11.00 to $13.00 in a report on Thursday, January 2nd. Truist Financial reduced their price objective on Topgolf Callaway Brands from $14.00 to $12.00 and set a "buy" rating for the company in a report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. lowered their target price on Topgolf Callaway Brands from $11.00 to $9.00 and set a "neutral" rating on the stock in a research note on Thursday, January 23rd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $14.67.

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.