Intech Investment Management LLC Makes New Investment in Topgolf Callaway Brands Corp. (NYSE:MODG)

Intech Investment Management LLC bought a new position in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 38,646 shares of the company’s stock, valued at approximately $424,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fifth Third Bancorp raised its stake in Topgolf Callaway Brands by 327.6% during the 2nd quarter. Fifth Third Bancorp now owns 2,527 shares of the company’s stock valued at $39,000 after buying an additional 1,936 shares during the last quarter. nVerses Capital LLC bought a new position in Topgolf Callaway Brands in the 3rd quarter worth about $133,000. Dnca Finance bought a new position in shares of Topgolf Callaway Brands during the second quarter valued at approximately $134,000. Koss Olinger Consulting LLC acquired a new stake in Topgolf Callaway Brands in the second quarter valued at approximately $160,000. Finally, Simon Quick Advisors LLC acquired a new stake in shares of Topgolf Callaway Brands during the second quarter worth $161,000. 84.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on MODG shares. JPMorgan Chase & Co. cut their price target 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. TD Cowen reduced their price target on Topgolf Callaway Brands from $13.00 to $10.00 and set a “hold” rating on the stock in a report on Tuesday, September 17th. Truist Financial lowered their price objective on 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. B. Riley cut shares of Topgolf Callaway Brands from a “buy” rating to a “neutral” rating and dropped their price target for the company from $18.00 to $12.00 in a research report on Thursday, October 17th. Finally, Morgan Stanley lowered their target price on Topgolf Callaway Brands from $11.00 to $10.00 and set an “underweight” rating for the company in a report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $14.92.

Topgolf Callaway Brands Price Performance

Shares of MODG opened at $8.56 on Tuesday. Topgolf Callaway Brands Corp. has a 12-month low of $7.95 and a 12-month high of $16.89. The stock has a market cap of $1.57 billion, a P/E ratio of -104.63, a P/E/G ratio of 5.73 and a beta of 1.75. The business’s fifty day moving average is $9.72 and its 200 day moving average is $12.25. The company has a quick ratio of 1.14, a current ratio of 1.93 and a debt-to-equity ratio of 0.37.

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.