Topgolf Callaway Brands Corp. (NYSE:MODG) Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC reduced its position in Topgolf Callaway Brands Corp. (NYSE:MODG - Free Report) by 67.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,050,399 shares of the company's stock after selling 2,223,381 shares during the quarter. Fisher Asset Management LLC owned about 0.57% of Topgolf Callaway Brands worth $11,533,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in MODG. Vanguard Group Inc. grew its stake in shares of Topgolf Callaway Brands by 0.5% during the first quarter. Vanguard Group Inc. now owns 15,484,400 shares of the company's stock valued at $250,383,000 after buying an additional 81,021 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its stake in shares of Topgolf Callaway Brands by 9.3% in the first quarter. CANADA LIFE ASSURANCE Co now owns 180,618 shares of the company's stock worth $2,918,000 after acquiring an additional 15,294 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Topgolf Callaway Brands by 6.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 84,558 shares of the company's stock valued at $1,368,000 after purchasing an additional 5,247 shares in the last quarter. Cetera Advisors LLC purchased a new position in Topgolf Callaway Brands in the 1st quarter worth approximately $182,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in Topgolf Callaway Brands during the 2nd quarter valued at about $290,000. 84.69% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Roth Mkm reiterated a "buy" rating and set a $16.00 price target (down previously from $17.00) on shares of Topgolf Callaway Brands in a research note on Thursday, November 14th. Jefferies Financial Group lowered shares of Topgolf Callaway Brands from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $40.00 to $12.00 in a research note on Thursday, August 29th. Morgan Stanley reduced their target price on shares of Topgolf Callaway Brands from $11.00 to $10.00 and set an "underweight" rating on the stock in a research report on Thursday, August 8th. The Goldman Sachs Group decreased their price objective on Topgolf Callaway Brands from $14.00 to $12.00 and set a "neutral" rating for the company in a research note on Thursday, November 14th. Finally, Truist Financial dropped 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. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, Topgolf Callaway Brands currently has an average 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 trading on Thursday, hitting $8.30. 1,529,935 shares of the stock were exchanged, compared to its average volume of 2,513,896. 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 fifty day moving average price of $9.82 and a two-hundred day moving average price of $12.37. 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 $1.53 billion, a PE ratio of -103.74, a P/E/G 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.