Quest Partners LLC Takes Position in Topgolf Callaway Brands Corp. (NYSE:MODG)

Quest Partners LLC acquired a new position in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 14,681 shares of the company’s stock, valued at approximately $161,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Dimensional Fund Advisors LP grew its holdings in shares of Topgolf Callaway Brands by 21.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,646,731 shares of the company’s stock worth $132,296,000 after purchasing an additional 1,549,222 shares in the last quarter. Leonard Green & Partners L.P. bought a new position in Topgolf Callaway Brands in the second quarter worth $97,173,000. American Century Companies Inc. boosted its stake in Topgolf Callaway Brands by 60.8% during the second quarter. American Century Companies Inc. now owns 3,178,681 shares of the company’s stock worth $48,634,000 after buying an additional 1,202,347 shares in the last quarter. Bwcp LP increased its holdings in Topgolf Callaway Brands by 20.3% in the 2nd quarter. Bwcp LP now owns 1,853,048 shares of the company’s stock valued at $28,352,000 after buying an additional 312,836 shares during the period. Finally, Harbor Capital Advisors Inc. raised its stake in shares of Topgolf Callaway Brands by 115.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,644,741 shares of the company’s stock valued at $18,059,000 after buying an additional 881,535 shares in the last quarter. 84.69% of the stock is currently owned by institutional investors and hedge funds.

Topgolf Callaway Brands Stock Down 0.1 %

Shares of NYSE MODG opened at $8.30 on Friday. Topgolf Callaway Brands Corp. has a 12-month low of $7.95 and a 12-month high of $16.89. The firm’s 50-day simple moving average is $9.82 and its 200 day simple moving average is $12.37. 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 company has a market cap of $1.53 billion, a price-to-earnings ratio of -103.75, a price-to-earnings-growth ratio of 6.02 and a beta of 1.75.

Wall Street Analyst Weigh In

MODG has been the topic of a number of analyst reports. Raymond James cut shares of Topgolf Callaway Brands from an “outperform” rating to an “underperform” rating in a research note on Friday, August 23rd. B. Riley cut Topgolf Callaway Brands from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $18.00 to $12.00 in a report on Thursday, October 17th. Truist Financial decreased their price target on Topgolf Callaway Brands from $16.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. Roth Mkm reiterated a “buy” rating and set a $16.00 price objective (down from $17.00) on shares of Topgolf Callaway Brands in a research note on Thursday, November 14th. Finally, KeyCorp downgraded shares of Topgolf Callaway Brands from an “overweight” rating to a “sector weight” rating in a research note on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus 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.