Topgolf Callaway Brands (NYSE:MODG) Shares Up 4.3% – What’s Next?

Shares of Topgolf Callaway Brands Corp. (NYSE:MODG) traded up 4.3% during mid-day trading on Monday . The stock traded as high as $7.79 and last traded at $7.77. 1,003,036 shares were traded during trading, a decline of 60% from the average session volume of 2,498,585 shares. The stock had previously closed at $7.45.

Analysts Set New Price Targets

MODG has been the topic of several recent research reports. 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 report on Thursday, November 14th. TD Cowen reduced their price target on shares of Topgolf Callaway Brands from $13.00 to $10.00 and set a “hold” rating on the stock in a research report on Tuesday, September 17th. The Goldman Sachs Group lowered their price objective on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. Jefferies Financial Group cut shares of Topgolf Callaway Brands from a “buy” rating to a “hold” rating and decreased their target price for the stock from $40.00 to $12.00 in a research report on Thursday, August 29th. Finally, JPMorgan Chase & Co. cut their price target on shares of Topgolf Callaway Brands from $13.00 to $11.00 and set a “neutral” rating for the company in a research report on Wednesday, November 13th. Two investment 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 stock presently has an average rating of “Hold” and an average target price of $14.92.

Topgolf Callaway Brands Stock Performance

The company has a market cap of $1.41 billion, a P/E ratio of -95.61, a P/E/G ratio of 5.62 and a beta of 1.70. The business has a fifty day moving average of $9.02 and a 200 day moving average of $11.49. The company has a quick ratio of 1.14, a current ratio of 1.93 and a debt-to-equity ratio of 0.37.

Hedge Funds Weigh In On Topgolf Callaway Brands

Institutional investors and hedge funds have recently modified their holdings of the stock. Leonard Green & Partners L.P. purchased a new stake in Topgolf Callaway Brands during the 2nd quarter valued at $97,173,000. Dimensional Fund Advisors LP increased its holdings 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 worth $132,296,000 after buying an additional 1,549,222 shares in the last quarter. American Century Companies Inc. raised its position in Topgolf Callaway Brands by 60.8% in the 2nd 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 during the last quarter. Granite Investment Partners LLC bought a new position in Topgolf Callaway Brands during the 2nd quarter valued at about $13,757,000. Finally, Harbor Capital Advisors Inc. boosted its holdings in shares of Topgolf Callaway Brands by 115.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,644,741 shares of the company’s stock valued at $18,059,000 after acquiring an additional 881,535 shares during the last quarter. 84.69% of the stock is currently owned by institutional investors.

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.