Graypoint LLC Sells 7,900 Shares of Topgolf Callaway Brands Corp. (NYSE:MODG)

Graypoint LLC lowered its position in Topgolf Callaway Brands Corp. (NYSE:MODG) by 28.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 20,260 shares of the company’s stock after selling 7,900 shares during the quarter. Graypoint LLC’s holdings in Topgolf Callaway Brands were worth $159,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of MODG. nVerses Capital LLC bought a new stake in Topgolf Callaway Brands during the third quarter valued at about $133,000. Quest Partners LLC purchased a new stake in Topgolf Callaway Brands during the third quarter valued at approximately $161,000. International Assets Investment Management LLC raised its position in Topgolf Callaway Brands by 998.0% during the third quarter. International Assets Investment Management LLC now owns 15,032 shares of the company’s stock valued at $165,000 after purchasing an additional 13,663 shares during the period. Park Avenue Securities LLC raised its position in Topgolf Callaway Brands by 13.5% during the third quarter. Park Avenue Securities LLC now owns 16,679 shares of the company’s stock valued at $183,000 after purchasing an additional 1,985 shares during the period. Finally, Lansing Street Advisors bought a new position in shares of Topgolf Callaway Brands during the third quarter valued at approximately $187,000. Institutional investors own 84.69% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Roth Mkm reissued a “buy” rating and issued a $16.00 price objective (down previously from $17.00) on shares of Topgolf Callaway Brands in a research note on Thursday, November 14th. Truist Financial decreased their price objective on Topgolf Callaway Brands from $14.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. TD Cowen reduced their target price on Topgolf Callaway Brands from $13.00 to $10.00 and set a “hold” rating for the company in a research note on Tuesday, September 17th. JPMorgan Chase & Co. reduced their target price on Topgolf Callaway Brands from $13.00 to $11.00 and set a “neutral” rating for the company in a research note on Wednesday, November 13th. Finally, Jefferies Financial Group raised Topgolf Callaway Brands from a “hold” rating to a “buy” rating and increased their price target for the stock from $11.00 to $13.00 in a research report on Thursday, January 2nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $14.83.

Topgolf Callaway Brands Stock Down 2.0 %

Shares of MODG opened at $8.47 on Monday. The company has a quick ratio of 1.14, a current ratio of 1.93 and a debt-to-equity ratio of 0.37. The firm has a market cap of $1.56 billion, a PE ratio of -105.86, a price-to-earnings-growth ratio of 5.39 and a beta of 1.70. The company’s fifty day moving average is $8.45 and its two-hundred day moving average is $10.76. Topgolf Callaway Brands Corp. has a fifty-two week low of $7.22 and a fifty-two week high of $16.89.

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.