Topgolf Callaway Brands Corp. (NYSE:MODG) Shares Bought by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. increased its position in Topgolf Callaway Brands Corp. (NYSE:MODG) by 7.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,329 shares of the company’s stock after buying an additional 2,712 shares during the period. Crossmark Global Holdings Inc.’s holdings in Topgolf Callaway Brands were worth $293,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MODG. Charles Schwab Investment Management Inc. raised its stake in shares of Topgolf Callaway Brands by 8.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,995,667 shares of the company’s stock valued at $21,912,000 after acquiring an additional 148,451 shares during the period. PDT Partners LLC bought a new position in shares of Topgolf Callaway Brands in the 3rd quarter worth about $1,934,000. Harbor Capital Advisors Inc. increased its position in Topgolf Callaway Brands by 115.5% in the third quarter. Harbor Capital Advisors Inc. now owns 1,644,741 shares of the company’s stock worth $18,059,000 after buying an additional 881,535 shares during the period. Empowered Funds LLC acquired a new stake in Topgolf Callaway Brands in the 3rd quarter valued at approximately $3,396,000. Finally, Sei Investments Co. lifted its stake in shares of Topgolf Callaway Brands by 61.8% in the 2nd quarter. Sei Investments Co. now owns 391,343 shares of the company’s stock worth $5,987,000 after acquiring an additional 149,545 shares during the period. Hedge funds and other institutional investors own 84.69% of the company’s stock.

Topgolf Callaway Brands Stock Performance

Shares of MODG opened at $8.02 on Monday. Topgolf Callaway Brands Corp. has a 12 month low of $7.22 and a 12 month high of $16.89. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of -100.17 and a beta of 1.70. The stock has a 50 day moving average of $8.21 and a 200 day moving average of $10.30. The company has a current ratio of 1.93, a quick ratio of 1.14 and a debt-to-equity ratio of 0.37.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MODG. JPMorgan Chase & Co. reduced their price objective on shares of Topgolf Callaway Brands from $11.00 to $9.00 and set a “neutral” rating for the company in a research note on Thursday. Jefferies Financial Group raised Topgolf Callaway Brands from a “hold” rating to a “buy” rating and raised their price target for the company from $11.00 to $13.00 in a research report on Thursday, January 2nd. Roth Mkm restated a “buy” rating and set a $16.00 price target (down from $17.00) on shares of Topgolf Callaway Brands in a research note on Thursday, November 14th. B. Riley lowered Topgolf Callaway Brands from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $18.00 to $12.00 in a research note on Thursday, October 17th. Finally, The Goldman Sachs Group lowered their target price on Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, November 14th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $14.67.

Topgolf Callaway Brands 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.