Topgolf Callaway Brands Corp. (NYSE:MODG – Get Free Report) was the target of some unusual options trading activity on Thursday. Investors acquired 2,228 call options on the stock. This is an increase of approximately 144% compared to the average volume of 912 call options.
Analysts Set New Price Targets
MODG has been the subject of a number of analyst reports. TD Cowen lowered their price target on Topgolf Callaway Brands from $13.00 to $10.00 and set a “hold” rating for the company in a research report on Tuesday, September 17th. Roth Mkm reiterated a “buy” rating and issued a $16.00 target price (down previously from $17.00) on shares of Topgolf Callaway Brands in a report on Thursday, November 14th. B. Riley cut shares of Topgolf Callaway Brands from a “buy” rating to a “neutral” rating and cut their price target for the stock from $18.00 to $12.00 in a report on Thursday, October 17th. Jefferies Financial Group raised shares of Topgolf Callaway Brands from a “hold” rating to a “buy” rating and upped their price objective for the stock from $11.00 to $13.00 in a research report on Thursday. Finally, The Goldman Sachs Group dropped their target price on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday, November 14th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $15.00.
Read Our Latest Research Report on MODG
Topgolf Callaway Brands Stock Performance
Hedge Funds Weigh In On Topgolf Callaway Brands
A number of large investors have recently made changes to their positions in the stock. Tidal Investments LLC boosted its stake in Topgolf Callaway Brands by 35.7% in the 3rd quarter. Tidal Investments LLC now owns 22,302 shares of the company’s stock worth $245,000 after purchasing an additional 5,862 shares during the period. Boyar Asset Management Inc. lifted its holdings in shares of Topgolf Callaway Brands by 17.5% in the third quarter. Boyar Asset Management Inc. now owns 104,540 shares of the company’s stock worth $1,148,000 after buying an additional 15,532 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Topgolf Callaway Brands by 0.7% in the third quarter. Geode Capital Management LLC now owns 3,255,232 shares of the company’s stock valued at $35,749,000 after acquiring an additional 22,003 shares during the period. MML Investors Services LLC grew its stake in Topgolf Callaway Brands by 25.3% during the third quarter. MML Investors Services LLC now owns 93,897 shares of the company’s stock valued at $1,031,000 after acquiring an additional 18,988 shares in the last quarter. Finally, Portolan Capital Management LLC bought a new stake in Topgolf Callaway Brands during the 3rd quarter worth approximately $3,862,000. 84.69% of the stock is owned by institutional investors.
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.
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