Tidal Investments LLC Has $245,000 Stock Holdings in Topgolf Callaway Brands Corp. (NYSE:MODG)

Tidal Investments LLC boosted its stake in Topgolf Callaway Brands Corp. (NYSE:MODG) by 35.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 22,302 shares of the company’s stock after acquiring an additional 5,862 shares during the period. Tidal Investments LLC’s holdings in Topgolf Callaway Brands were worth $245,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MODG. Koss Olinger Consulting LLC bought a new stake in shares of Topgolf Callaway Brands in the 2nd quarter valued at $160,000. Simon Quick Advisors LLC acquired a new position in Topgolf Callaway Brands in the second quarter valued at $161,000. nVerses Capital LLC bought a new stake in Topgolf Callaway Brands during the third quarter valued at $133,000. XTX Topco Ltd acquired a new stake in Topgolf Callaway Brands during the 2nd quarter worth about $218,000. Finally, Quest Partners LLC bought a new position in shares of Topgolf Callaway Brands in the 3rd quarter worth about $161,000. Institutional investors and hedge funds own 84.69% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on MODG. B. Riley cut 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 note on Thursday, October 17th. Truist Financial reduced their price objective on shares of Topgolf Callaway Brands from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. TD Cowen dropped their target price 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. Jefferies Financial Group cut shares of Topgolf Callaway Brands from a “buy” rating to a “hold” rating and reduced their price target for the stock from $40.00 to $12.00 in a report on Thursday, August 29th. Finally, The Goldman Sachs Group dropped their price objective on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, November 14th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Topgolf Callaway Brands presently has a consensus rating of “Hold” and an average target price of $14.92.

Topgolf Callaway Brands Price Performance

Shares of NYSE MODG opened at $7.80 on Thursday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.14 and a current ratio of 1.93. The firm’s 50-day simple moving average is $8.85 and its 200 day simple moving average is $11.36. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of -97.49, a PEG ratio of 5.62 and a beta of 1.70. Topgolf Callaway Brands Corp. has a fifty-two week low of $7.22 and a fifty-two week high of $16.89.

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.