Dynamic Technology Lab Private Ltd Lowers Stock Position in Topgolf Callaway Brands Corp. (NYSE:MODG)

Dynamic Technology Lab Private Ltd trimmed its position in Topgolf Callaway Brands Corp. (NYSE:MODG) by 41.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,577 shares of the company’s stock after selling 19,926 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Topgolf Callaway Brands were worth $314,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fifth Third Bancorp increased its stake in shares of Topgolf Callaway Brands by 327.6% in the second quarter. Fifth Third Bancorp now owns 2,527 shares of the company’s stock worth $39,000 after purchasing an additional 1,936 shares in the last quarter. nVerses Capital LLC purchased a new position in shares of Topgolf Callaway Brands during the 3rd quarter valued at $133,000. Dnca Finance bought a new position in Topgolf Callaway Brands in the 2nd quarter worth $134,000. Koss Olinger Consulting LLC purchased a new stake in Topgolf Callaway Brands in the 2nd quarter worth $160,000. Finally, Simon Quick Advisors LLC bought a new stake in Topgolf Callaway Brands during the second quarter valued at about $161,000. Institutional investors own 84.69% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on MODG shares. KeyCorp cut Topgolf Callaway Brands from an “overweight” rating to a “sector weight” rating in a report on Thursday, August 8th. Jefferies Financial Group lowered shares of Topgolf Callaway Brands from a “buy” rating to a “hold” rating and dropped their target price for the stock from $40.00 to $12.00 in a research report on Thursday, August 29th. The Goldman Sachs Group cut their target price on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, November 14th. Bank of America decreased their price target on shares of 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, B. Riley lowered Topgolf Callaway Brands from a “buy” rating to a “neutral” rating and cut their price objective for the company from $18.00 to $12.00 in a research report on Thursday, October 17th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $14.92.

Topgolf Callaway Brands Trading Up 1.4 %

Shares of NYSE:MODG opened at $8.42 on Friday. The business has a 50-day moving average price of $9.72 and a 200-day moving average price of $12.28. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of -105.24, a PEG ratio of 5.64 and a beta of 1.75. Topgolf Callaway Brands Corp. has a 52-week low of $7.95 and a 52-week high of $16.89. 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 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.