Pathstone Holdings LLC Sells 194,439 Shares of Topgolf Callaway Brands Corp. (NYSE:MODG)

Pathstone Holdings LLC lessened its holdings in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) by 55.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 156,762 shares of the company’s stock after selling 194,439 shares during the quarter. Pathstone Holdings LLC’s holdings in Topgolf Callaway Brands were worth $1,721,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of MODG. Vanguard Group Inc. raised its position in Topgolf Callaway Brands by 0.5% in the 1st 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. Dimensional Fund Advisors LP lifted its stake in Topgolf Callaway Brands by 21.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,646,731 shares of the company’s stock valued at $132,296,000 after purchasing an additional 1,549,222 shares during the last quarter. Leonard Green & Partners L.P. acquired a new stake in shares of Topgolf Callaway Brands in the second quarter valued at approximately $97,173,000. American Century Companies Inc. lifted its holdings in Topgolf Callaway Brands by 60.8% during the 2nd quarter. American Century Companies Inc. now owns 3,178,681 shares of the company’s stock valued at $48,634,000 after purchasing an additional 1,202,347 shares during the last quarter. Finally, Bwcp LP boosted its holdings in shares of Topgolf Callaway Brands by 20.3% during the 2nd quarter. Bwcp LP now owns 1,853,048 shares of the company’s stock worth $28,352,000 after buying an additional 312,836 shares during the period. Institutional investors and hedge funds own 84.69% of the company’s stock.

Topgolf Callaway Brands Stock Down 0.1 %

Shares of NYSE:MODG opened at $8.31 on Thursday. Topgolf Callaway Brands Corp. has a 1 year low of $7.95 and a 1 year high of $16.89. 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 business’s 50-day moving average is $9.87 and its 200-day moving average is $12.40. The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of -103.80, a P/E/G ratio of 6.02 and a beta of 1.75.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on MODG shares. B. Riley lowered Topgolf Callaway Brands from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $18.00 to $12.00 in a report on Thursday, October 17th. Morgan Stanley decreased their price objective on shares of Topgolf Callaway Brands from $11.00 to $10.00 and set an “underweight” rating on the stock in a research note on Thursday, August 8th. Raymond James cut shares of Topgolf Callaway Brands from an “outperform” rating to an “underperform” rating in a report on Friday, August 23rd. Truist Financial dropped their price target on Topgolf Callaway Brands from $16.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, November 13th. Finally, JPMorgan Chase & Co. cut their target price on shares of Topgolf Callaway Brands from $13.00 to $11.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 13th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target 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.