MML Investors Services LLC Purchases 18,988 Shares of Topgolf Callaway Brands Corp. (NYSE:MODG)

MML Investors Services LLC lifted its position in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) by 25.3% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 93,897 shares of the company’s stock after buying an additional 18,988 shares during the quarter. MML Investors Services LLC’s holdings in Topgolf Callaway Brands were worth $1,031,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Fifth Third Bancorp raised its stake in Topgolf Callaway Brands by 327.6% in the 2nd 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 acquired a new position in shares of Topgolf Callaway Brands during the 3rd quarter worth approximately $133,000. Koss Olinger Consulting LLC bought a new position in shares of Topgolf Callaway Brands during the second quarter worth approximately $160,000. Simon Quick Advisors LLC acquired a new stake in shares of Topgolf Callaway Brands in the second quarter valued at approximately $161,000. Finally, Quest Partners LLC bought a new stake in shares of Topgolf Callaway Brands in the third quarter valued at approximately $161,000. Institutional investors own 84.69% of the company’s stock.

Analyst Ratings Changes

MODG has been the topic of a number of recent research reports. The Goldman Sachs Group lowered 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, November 14th. JPMorgan Chase & Co. decreased their price target on Topgolf Callaway Brands from $13.00 to $11.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 13th. TD Cowen dropped their price target on 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. Roth Mkm reiterated a “buy” rating and set a $16.00 price objective (down from $17.00) on shares of Topgolf Callaway Brands in a research note on Thursday, November 14th. Finally, Bank of America decreased 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, September 12th. 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 stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $14.92.

Topgolf Callaway Brands Trading Down 3.1 %

Shares of Topgolf Callaway Brands stock opened at $7.29 on Friday. The firm has a market capitalization of $1.34 billion, a PE ratio of -91.11, a price-to-earnings-growth ratio of 5.62 and a beta of 1.70. The company has a current ratio of 1.93, a quick ratio of 1.14 and a debt-to-equity ratio of 0.37. The firm’s 50 day moving average is $9.08 and its 200 day moving average is $11.61. Topgolf Callaway Brands Corp. has a 1 year low of $7.25 and a 1 year high of $16.89.

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.