Topgolf Callaway Brands Corp. (NYSE:MODG) Shares Sold by Hodges Capital Management Inc.

Hodges Capital Management Inc. cut its stake in Topgolf Callaway Brands Corp. (NYSE:MODG) by 96.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 18,000 shares of the company’s stock after selling 466,279 shares during the quarter. Hodges Capital Management Inc.’s holdings in Topgolf Callaway Brands were worth $141,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Creative Planning boosted its position in shares of Topgolf Callaway Brands by 6.8% in the 2nd quarter. Creative Planning now owns 22,201 shares of the company’s stock worth $340,000 after buying an additional 1,415 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Topgolf Callaway Brands by 2.5% during the second quarter. The Manufacturers Life Insurance Company now owns 78,434 shares of the company’s stock worth $1,200,000 after acquiring an additional 1,888 shares during the last quarter. Park Avenue Securities LLC lifted its stake in Topgolf Callaway Brands by 13.5% in the 3rd quarter. Park Avenue Securities LLC now owns 16,679 shares of the company’s stock valued at $183,000 after buying an additional 1,985 shares in the last quarter. Crossmark Global Holdings Inc. lifted its position in shares of Topgolf Callaway Brands by 7.8% in the fourth quarter. Crossmark Global Holdings Inc. now owns 37,329 shares of the company’s stock valued at $293,000 after acquiring an additional 2,712 shares in the last quarter. Finally, KBC Group NV lifted its holdings in Topgolf Callaway Brands by 81.8% in the 4th quarter. KBC Group NV now owns 8,330 shares of the company’s stock valued at $65,000 after purchasing an additional 3,749 shares in the last quarter. 84.69% of the stock is currently owned by institutional investors and hedge funds.

Topgolf Callaway Brands Trading Down 0.7 %

Shares of MODG stock opened at $7.81 on Tuesday. The company has a market cap of $1.43 billion, a PE ratio of -97.55 and a beta of 1.70. 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 Corp. has a 12 month low of $7.22 and a 12 month high of $16.89. The business’s 50 day moving average is $8.16 and its two-hundred day moving average is $9.99.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on MODG. Jefferies Financial Group upgraded Topgolf Callaway Brands from a “hold” rating to a “buy” rating and raised their price objective for the stock from $11.00 to $13.00 in a report on Thursday, January 2nd. The Goldman Sachs Group dropped their price objective on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, November 14th. Roth Mkm reissued a “buy” rating and set a $16.00 price target (down from $17.00) on shares of Topgolf Callaway Brands in a research report on Thursday, November 14th. Truist Financial decreased their price objective on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Finally, B. Riley lowered shares of Topgolf Callaway Brands from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $18.00 to $12.00 in a research note on Thursday, October 17th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average 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.