Aigen Investment Management LP Raises Position in Topgolf Callaway Brands Corp. (NYSE:MODG)

Aigen Investment Management LP lifted its stake in Topgolf Callaway Brands Corp. (NYSE:MODG) by 104.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 29,083 shares of the company’s stock after acquiring an additional 14,826 shares during the period. Aigen Investment Management LP’s holdings in Topgolf Callaway Brands were worth $319,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Leonard Green & Partners L.P. bought a new position in shares of Topgolf Callaway Brands in the second quarter worth about $97,173,000. Dimensional Fund Advisors LP lifted its holdings in Topgolf Callaway Brands by 21.8% during the second quarter. Dimensional Fund Advisors LP now owns 8,646,731 shares of the company’s stock valued at $132,296,000 after purchasing an additional 1,549,222 shares in the last quarter. American Century Companies Inc. boosted its holdings in Topgolf Callaway Brands by 60.8% in the 2nd quarter. American Century Companies Inc. now owns 3,178,681 shares of the company’s stock worth $48,634,000 after buying an additional 1,202,347 shares during the period. Granite Investment Partners LLC purchased a new stake in shares of Topgolf Callaway Brands during the second quarter worth about $13,757,000. Finally, Harbor Capital Advisors Inc. raised its position in shares of Topgolf Callaway Brands by 115.5% during the third quarter. Harbor Capital Advisors Inc. now owns 1,644,741 shares of the company’s stock valued at $18,059,000 after buying an additional 881,535 shares during the last quarter. 84.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on MODG shares. TD Cowen cut their target price on shares of Topgolf Callaway Brands from $13.00 to $10.00 and set a “hold” rating for the company in a research note on Tuesday, September 17th. B. Riley cut Topgolf Callaway Brands from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $18.00 to $12.00 in a report on Thursday, October 17th. Truist Financial decreased their target price on Topgolf Callaway Brands from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday. The Goldman Sachs Group cut 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. Finally, Raymond James cut Topgolf Callaway Brands from an “outperform” rating to an “underperform” rating in a report on Friday, August 23rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $14.92.

Topgolf Callaway Brands Price Performance

Topgolf Callaway Brands stock opened at $8.54 on Friday. The firm has a market capitalization of $1.57 billion, a PE ratio of -106.75, a price-to-earnings-growth ratio of 8.62 and a beta of 1.75. Topgolf Callaway Brands Corp. has a 12-month low of $8.23 and a 12-month high of $16.89. The firm has a 50-day moving average price of $10.07 and a 200-day moving average price of $12.82. The company has a current ratio of 1.93, a quick ratio of 1.15 and a debt-to-equity ratio of 0.37.

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.