Asset Planning Inc Purchases New Position in Topgolf Callaway Brands Corp. (NYSE:MODG)

Asset Planning Inc purchased a new stake in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 4,155 shares of the company’s stock, valued at approximately $33,000.

Other institutional investors have also recently added to or reduced their stakes in the company. KBC Group NV increased its position in Topgolf Callaway Brands by 81.8% in the 4th quarter. KBC Group NV now owns 8,330 shares of the company’s stock valued at $65,000 after acquiring an additional 3,749 shares in the last quarter. nVerses Capital LLC acquired a new stake in Topgolf Callaway Brands in the 3rd quarter valued at about $133,000. Quest Partners LLC acquired a new stake in Topgolf Callaway Brands in the 3rd quarter valued at about $161,000. International Assets Investment Management LLC increased its position in Topgolf Callaway Brands by 998.0% in the 3rd quarter. International Assets Investment Management LLC now owns 15,032 shares of the company’s stock valued at $165,000 after acquiring an additional 13,663 shares in the last quarter. Finally, Augustine Asset Management Inc. grew its position in shares of Topgolf Callaway Brands by 7.4% during the 4th quarter. Augustine Asset Management Inc. now owns 21,843 shares of the company’s stock worth $172,000 after buying an additional 1,500 shares during the period. 84.69% of the stock is owned by institutional investors.

Topgolf Callaway Brands Stock Performance

Shares of MODG opened at $7.24 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.14 and a current ratio of 1.93. Topgolf Callaway Brands Corp. has a twelve month low of $7.13 and a twelve month high of $16.89. The firm’s 50 day moving average price is $8.04 and its two-hundred day moving average price is $9.57. The firm has a market cap of $1.33 billion, a P/E ratio of -90.43 and a beta of 1.70.

Analysts Set New Price Targets

Several brokerages have recently commented on MODG. The Goldman Sachs Group lowered their price target on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, November 14th. Roth Mkm reiterated a “buy” rating and set a $16.00 price target (down previously from $17.00) on shares of Topgolf Callaway Brands in a research report on Thursday, November 14th. Jefferies Financial Group upgraded shares of Topgolf Callaway Brands from a “hold” rating to a “buy” rating and lifted their price target for the stock from $11.00 to $13.00 in a research report on Thursday, January 2nd. Truist Financial lowered their price target on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Topgolf Callaway Brands from $11.00 to $9.00 and set a “neutral” rating for the company in a research report on Thursday, January 23rd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, Topgolf Callaway Brands presently has an average rating of “Hold” and a consensus target price of $14.36.

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.