Harbor Capital Advisors Inc. Raises Stock Holdings in Topgolf Callaway Brands Corp. (NYSE:MODG)

Harbor Capital Advisors Inc. increased its stake in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) by 14.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,886,496 shares of the company’s stock after purchasing an additional 241,755 shares during the quarter. Topgolf Callaway Brands makes up approximately 0.6% of Harbor Capital Advisors Inc.’s holdings, making the stock its 19th largest holding. Harbor Capital Advisors Inc.’s holdings in Topgolf Callaway Brands were worth $14,828,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Sterneck Capital Management LLC boosted its stake in shares of Topgolf Callaway Brands by 31.0% during the 4th quarter. Sterneck Capital Management LLC now owns 28,672 shares of the company’s stock worth $225,000 after purchasing an additional 6,786 shares during the last quarter. Tidal Investments LLC boosted its position in Topgolf Callaway Brands by 35.7% during the third quarter. Tidal Investments LLC now owns 22,302 shares of the company’s stock worth $245,000 after acquiring an additional 5,862 shares during the last quarter. Boyar Asset Management Inc. boosted its position in Topgolf Callaway Brands by 17.5% during the third quarter. Boyar Asset Management Inc. now owns 104,540 shares of the company’s stock worth $1,148,000 after acquiring an additional 15,532 shares during the last quarter. Geode Capital Management LLC raised its holdings in Topgolf Callaway Brands by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 3,255,232 shares of the company’s stock valued at $35,749,000 after acquiring an additional 22,003 shares during the last quarter. Finally, MML Investors Services LLC lifted its stake in shares of Topgolf Callaway Brands by 25.3% during the 3rd quarter. MML Investors Services LLC now owns 93,897 shares of the company’s stock worth $1,031,000 after purchasing an additional 18,988 shares during the period. Institutional investors and hedge funds own 84.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on MODG shares. Jefferies Financial Group raised Topgolf Callaway Brands from a “hold” rating to a “buy” rating and raised their price target for the stock from $11.00 to $13.00 in a research note on Thursday, January 2nd. B. Riley cut shares of Topgolf Callaway Brands from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $18.00 to $12.00 in a research report on Thursday, October 17th. JPMorgan Chase & Co. dropped 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. Roth Mkm reiterated a “buy” rating and issued a $16.00 price target (down previously from $17.00) on shares of Topgolf Callaway Brands in a report on Thursday, November 14th. Finally, TD Cowen dropped their price objective on Topgolf Callaway Brands from $13.00 to $10.00 and set a “hold” rating for the company in a report on Tuesday, September 17th. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Topgolf Callaway Brands presently has an average rating of “Hold” and an average target price of $14.83.

Topgolf Callaway Brands Stock Down 1.9 %

NYSE MODG traded down $0.16 during mid-day trading on Friday, reaching $8.48. 623,103 shares of the company’s stock traded hands, compared to its average volume of 3,583,737. The company has a fifty day simple moving average of $8.47 and a 200-day simple moving average of $10.87. Topgolf Callaway Brands Corp. has a 1-year low of $7.22 and a 1-year high of $16.89. The company has a market cap of $1.56 billion, a price-to-earnings ratio of -105.99, a P/E/G ratio of 5.39 and a beta of 1.70. The company has a current ratio of 1.93, a quick ratio of 1.14 and a debt-to-equity ratio of 0.37.

About Topgolf Callaway Brands

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.