Victory Capital Management Inc. Buys 75,270 Shares of Topgolf Callaway Brands Corp. (NYSE:MODG)

Victory Capital Management Inc. boosted its stake in Topgolf Callaway Brands Corp. (NYSE:MODG) by 165.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 120,727 shares of the company’s stock after purchasing an additional 75,270 shares during the period. Victory Capital Management Inc. owned approximately 0.07% of Topgolf Callaway Brands worth $1,326,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Topgolf Callaway Brands by 0.5% in the first quarter. Vanguard Group Inc. now owns 15,484,400 shares of the company’s stock worth $250,383,000 after acquiring an additional 81,021 shares during the period. CANADA LIFE ASSURANCE Co grew its stake in shares of Topgolf Callaway Brands by 9.3% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 180,618 shares of the company’s stock valued at $2,918,000 after purchasing an additional 15,294 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Topgolf Callaway Brands by 6.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 84,558 shares of the company’s stock valued at $1,368,000 after purchasing an additional 5,247 shares during the last quarter. Mount Yale Investment Advisors LLC bought a new position in shares of Topgolf Callaway Brands in the 1st quarter worth approximately $230,000. Finally, Cetera Advisors LLC bought a new stake in Topgolf Callaway Brands during the first quarter valued at approximately $182,000. 84.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on MODG. Jefferies Financial Group downgraded shares of Topgolf Callaway Brands from a “buy” rating to a “hold” rating and decreased their price target for the stock from $40.00 to $12.00 in a research report on Thursday, August 29th. TD Cowen lowered their target price on Topgolf Callaway Brands from $13.00 to $10.00 and set a “hold” rating on the stock in a research report on Tuesday, September 17th. B. Riley cut Topgolf Callaway Brands from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $18.00 to $12.00 in a research report on Thursday, October 17th. Bank of America decreased their price objective on Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. Finally, JPMorgan Chase & Co. cut their price objective 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. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $14.92.

Topgolf Callaway Brands Price Performance

MODG stock opened at $8.31 on Wednesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.14 and a current ratio of 1.93. The company’s fifty day moving average price is $9.90 and its 200-day moving average price is $12.45. Topgolf Callaway Brands Corp. has a one year low of $7.95 and a one year high of $16.89. The company has a market capitalization of $1.53 billion, a PE ratio of -103.86, a price-to-earnings-growth ratio of 5.84 and a beta of 1.75.

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.