Topgolf Callaway Brands Corp. (NYSE:MODG) Shares Sold by Amalgamated Bank

Amalgamated Bank lowered its stake in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) by 2.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,087 shares of the company’s stock after selling 1,194 shares during the quarter. Amalgamated Bank’s holdings in Topgolf Callaway Brands were worth $462,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Lansing Street Advisors bought a new stake in Topgolf Callaway Brands in the third quarter valued at $187,000. Harbor Capital Advisors Inc. increased its holdings in shares of Topgolf Callaway Brands by 115.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,644,741 shares of the company’s stock worth $18,059,000 after acquiring an additional 881,535 shares during the period. Assenagon Asset Management S.A. bought a new stake in Topgolf Callaway Brands in the 3rd quarter valued at about $482,000. International Assets Investment Management LLC boosted its stake in Topgolf Callaway Brands by 998.0% during the 3rd 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. Finally, Everence Capital Management Inc. grew its position in Topgolf Callaway Brands by 63.1% in the 3rd quarter. Everence Capital Management Inc. now owns 27,900 shares of the company’s stock worth $306,000 after purchasing an additional 10,790 shares during the last quarter. 84.69% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. KeyCorp downgraded Topgolf Callaway Brands from an “overweight” rating to a “sector weight” rating in a research report on Thursday, August 8th. TD Cowen reduced 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. Bank of America lowered their price target on Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. Roth Mkm reaffirmed a “buy” rating and issued a $16.00 price objective (down previously from $17.00) on shares of Topgolf Callaway Brands in a report on Thursday. Finally, Raymond James cut shares of Topgolf Callaway Brands from an “outperform” rating to an “underperform” rating in a research note on Friday, August 23rd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Topgolf Callaway Brands has an average rating of “Hold” and a consensus target price of $14.92.

Topgolf Callaway Brands Stock Performance

Shares of MODG opened at $8.54 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 1.15. The firm’s 50 day moving average is $10.07 and its 200-day moving average is $12.80. Topgolf Callaway Brands Corp. has a 12-month low of $8.23 and a 12-month high of $16.89. The stock has a market capitalization of $1.57 billion, a P/E ratio of -106.75, a P/E/G ratio of 8.62 and a beta of 1.75.

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.