Victory Capital Management Inc. Has $1.33 Million Holdings in Topgolf Callaway Brands Corp. (NYSE:MODG)

Victory Capital Management Inc. boosted its holdings in shares of Topgolf Callaway Brands Corp. (NYSE:MODG - Free Report) by 165.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 120,727 shares of the company's stock after acquiring an additional 75,270 shares during the quarter. Victory Capital Management Inc. owned approximately 0.07% of Topgolf Callaway Brands worth $1,326,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in MODG. Leonard Green & Partners L.P. bought a new stake in shares of Topgolf Callaway Brands during the 2nd quarter worth about $97,173,000. Vanguard Group Inc. boosted its position in Topgolf Callaway Brands by 0.5% during the first quarter. Vanguard Group Inc. now owns 15,484,400 shares of the company's stock worth $250,383,000 after purchasing an additional 81,021 shares during the period. Harbor Capital Advisors Inc. grew its holdings in Topgolf Callaway Brands by 115.5% during the third quarter. Harbor Capital Advisors Inc. now owns 1,644,741 shares of the company's stock valued at $18,059,000 after purchasing an additional 881,535 shares during the last quarter. Sei Investments Co. grew its holdings in Topgolf Callaway Brands by 61.8% during the second quarter. Sei Investments Co. now owns 391,343 shares of the company's stock valued at $5,987,000 after purchasing an additional 149,545 shares during the last quarter. Finally, Hodges Capital Management Inc. raised its position in shares of Topgolf Callaway Brands by 5.6% in the second quarter. Hodges Capital Management Inc. now owns 1,637,289 shares of the company's stock valued at $25,051,000 after purchasing an additional 86,913 shares during the period. 84.69% of the stock is currently owned by institutional investors and hedge funds.

Topgolf Callaway Brands Stock Performance

MODG opened at $8.31 on Wednesday. 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 firm's fifty day moving average price is $9.90 and its two-hundred day moving average price is $12.45. Topgolf Callaway Brands Corp. has a fifty-two week low of $7.95 and a fifty-two week high of $16.89.

Analyst Ratings Changes

A number of research firms recently issued reports on MODG. TD Cowen lowered their target price on shares of Topgolf Callaway Brands from $13.00 to $10.00 and set a "hold" rating on the stock in a research note on Tuesday, September 17th. Morgan Stanley cut their price objective on Topgolf Callaway Brands from $11.00 to $10.00 and set an "underweight" rating for the company in a research report on Thursday, August 8th. Jefferies Financial Group downgraded Topgolf Callaway Brands from a "buy" rating to a "hold" rating and dropped their price target for the stock from $40.00 to $12.00 in a research report on Thursday, August 29th. 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 research report on Thursday, September 12th. Finally, Raymond James lowered shares of Topgolf Callaway Brands from an "outperform" rating to an "underperform" rating in a research report on Friday, August 23rd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Topgolf Callaway Brands has a consensus rating of "Hold" and an average target price of $14.92.

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.