SG Americas Securities LLC Acquires New Position in Topgolf Callaway Brands Corp. (NYSE:MODG)

SG Americas Securities LLC bought a new stake in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 55,092 shares of the company’s stock, valued at approximately $433,000.

A number of other large investors also recently made changes to their positions in the stock. nVerses Capital LLC bought a new stake in shares of Topgolf Callaway Brands during the third quarter worth $133,000. Quest Partners LLC acquired a new stake in shares of Topgolf Callaway Brands in the 3rd quarter valued at about $161,000. Algert Global LLC bought a new stake in shares of Topgolf Callaway Brands in the second quarter valued at about $226,000. International Assets Investment Management LLC boosted its position in shares of 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 worth $165,000 after buying an additional 13,663 shares during the period. Finally, Park Avenue Securities LLC lifted its position in shares of Topgolf Callaway Brands by 13.5% in the third quarter. Park Avenue Securities LLC now owns 16,679 shares of the company’s stock worth $183,000 after purchasing an additional 1,985 shares in the last quarter. Institutional investors and hedge funds own 84.69% of the company’s stock.

Topgolf Callaway Brands Stock Down 3.5 %

Shares of NYSE MODG opened at $7.88 on Monday. The business has a 50-day moving average of $8.18 and a 200-day moving average of $10.05. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of -98.43 and a beta of 1.70. The company has a current ratio of 1.93, a quick ratio of 1.14 and a debt-to-equity ratio of 0.37. Topgolf Callaway Brands Corp. has a 12 month low of $7.22 and a 12 month high of $16.89.

Analyst Ratings Changes

Several brokerages recently commented on MODG. JPMorgan Chase & Co. reduced their price target on Topgolf Callaway Brands from $11.00 to $9.00 and set a “neutral” rating for the company in a research report on Thursday, January 23rd. The Goldman Sachs Group dropped their price target on Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. B. Riley downgraded 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. Roth Mkm reiterated a “buy” rating and set a $16.00 price objective (down from $17.00) on shares of Topgolf Callaway Brands in a research note on Thursday, November 14th. Finally, Truist Financial lowered their price target 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. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $14.67.

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.