Topgolf Callaway Brands Corp. (NYSE:MODG) Holdings Raised by Thompson Investment Management Inc.

Thompson Investment Management Inc. raised its position in Topgolf Callaway Brands Corp. (NYSE:MODG - Free Report) by 11.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 362,299 shares of the company's stock after acquiring an additional 36,201 shares during the quarter. Thompson Investment Management Inc. owned approximately 0.20% of Topgolf Callaway Brands worth $2,848,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of MODG. Geode Capital Management LLC increased its stake in shares of Topgolf Callaway Brands by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 3,255,232 shares of the company's stock worth $35,749,000 after acquiring an additional 22,003 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings 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 purchasing an additional 148,451 shares during the last quarter. Harbor Capital Advisors Inc. lifted its holdings in shares of Topgolf Callaway Brands by 14.7% during the 4th quarter. Harbor Capital Advisors Inc. now owns 1,886,496 shares of the company's stock valued at $14,828,000 after buying an additional 241,755 shares during the period. LGT Capital Partners LTD. bought a new stake in shares of Topgolf Callaway Brands during the 3rd quarter valued at about $6,588,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Topgolf Callaway Brands by 1.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 355,256 shares of the company's stock valued at $3,901,000 after buying an additional 3,841 shares during the last quarter. 84.69% of the stock is currently owned by hedge funds and other institutional investors.

Topgolf Callaway Brands Price Performance

MODG traded down $0.31 during trading on Wednesday, reaching $7.28. The company's stock had a trading volume of 3,161,999 shares, compared to its average volume of 2,884,428. The company has a quick ratio of 1.14, a current ratio of 1.93 and a debt-to-equity ratio of 0.37. The firm has a fifty day simple moving average of $8.09 and a two-hundred day simple moving average of $9.66. The company has a market cap of $1.34 billion, a price-to-earnings ratio of -90.99 and a beta of 1.70. Topgolf Callaway Brands Corp. has a 1 year low of $7.16 and a 1 year high of $16.89.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. B. Riley cut shares of Topgolf Callaway Brands from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $18.00 to $12.00 in a research note on Thursday, October 17th. Truist Financial lowered their target price on Topgolf Callaway Brands from $14.00 to $12.00 and set a "buy" rating for the company in a research report on Tuesday, January 7th. Roth Mkm restated a "buy" rating and set a $16.00 price objective (down from $17.00) on shares of Topgolf Callaway Brands in a research report on Thursday, November 14th. Jefferies Financial Group raised shares of Topgolf Callaway Brands from a "hold" rating to a "buy" rating and raised their price objective for the stock from $11.00 to $13.00 in a research note on Thursday, January 2nd. Finally, JPMorgan Chase & Co. decreased their target price on Topgolf Callaway Brands from $11.00 to $9.00 and set a "neutral" rating for the company in a research report on Thursday, January 23rd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus 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.