Entropy Technologies LP Invests $274,000 in Topgolf Callaway Brands Corp. (NYSE:MODG)

Entropy Technologies LP acquired a new stake in Topgolf Callaway Brands Corp. (NYSE:MODG) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 24,951 shares of the company’s stock, valued at approximately $274,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Fifth Third Bancorp increased its position in shares of Topgolf Callaway Brands by 327.6% during the second quarter. Fifth Third Bancorp now owns 2,527 shares of the company’s stock valued at $39,000 after acquiring an additional 1,936 shares during the last quarter. nVerses Capital LLC acquired a new stake in Topgolf Callaway Brands in the 3rd quarter valued at approximately $133,000. Dnca Finance purchased a new stake in Topgolf Callaway Brands in the second quarter valued at approximately $134,000. Koss Olinger Consulting LLC acquired a new position in Topgolf Callaway Brands during the second quarter worth $160,000. Finally, Simon Quick Advisors LLC purchased a new position in shares of Topgolf Callaway Brands during the second quarter worth $161,000. 84.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on MODG. KeyCorp downgraded Topgolf Callaway Brands from an “overweight” rating to a “sector weight” rating in a report on Thursday, August 8th. Truist Financial reduced their price target on shares of Topgolf Callaway Brands from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday. TD Cowen dropped their price objective on shares of Topgolf Callaway Brands from $13.00 to $10.00 and set a “hold” rating for the company in a report on Tuesday, September 17th. The Goldman Sachs Group reduced their target price on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, Morgan Stanley dropped their price target on shares of Topgolf Callaway Brands from $11.00 to $10.00 and set an “underweight” rating for the company in a research note on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $14.92.

Topgolf Callaway Brands Trading Up 1.7 %

NYSE:MODG opened at $8.54 on Friday. Topgolf Callaway Brands Corp. has a 1 year low of $8.23 and a 1 year high of $16.89. The stock has a market cap 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. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.15 and a current ratio of 1.93. The stock has a 50-day simple moving average of $10.07 and a 200-day simple moving average of $12.80.

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.