Tidal Investments LLC Has $245,000 Position in Topgolf Callaway Brands Corp. (NYSE:MODG)

Tidal Investments LLC raised its position in Topgolf Callaway Brands Corp. (NYSE:MODG) by 35.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,302 shares of the company’s stock after buying an additional 5,862 shares during the quarter. Tidal Investments LLC’s holdings in Topgolf Callaway Brands were worth $245,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Koss Olinger Consulting LLC acquired a new position in shares of Topgolf Callaway Brands in the second quarter valued at about $160,000. Simon Quick Advisors LLC bought a new stake in shares of Topgolf Callaway Brands during the 2nd quarter valued at $161,000. nVerses Capital LLC bought a new stake in shares of Topgolf Callaway Brands during the 3rd quarter valued at $133,000. XTX Topco Ltd acquired a new stake in shares of Topgolf Callaway Brands during the 2nd quarter worth $218,000. Finally, Quest Partners LLC bought a new position in shares of Topgolf Callaway Brands in the third quarter worth $161,000. Institutional investors own 84.69% of the company’s stock.

Topgolf Callaway Brands Stock Up 0.4 %

NYSE:MODG opened at $7.80 on Thursday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 1.14. Topgolf Callaway Brands Corp. has a one year low of $7.22 and a one year high of $16.89. The firm’s 50 day simple moving average is $8.85 and its 200 day simple moving average is $11.36. The company has a market cap of $1.43 billion, a PE ratio of -97.49, a P/E/G ratio of 5.62 and a beta of 1.70.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on MODG shares. The Goldman Sachs Group reduced their price objective 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, November 14th. Truist Financial lowered their price objective on shares of Topgolf Callaway Brands from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. Jefferies Financial Group downgraded Topgolf Callaway Brands from a “buy” rating to a “hold” rating and reduced their target price for the company from $40.00 to $12.00 in a report on Thursday, August 29th. TD Cowen dropped their price objective on Topgolf Callaway Brands from $13.00 to $10.00 and set a “hold” rating for the company in a research report on Tuesday, September 17th. Finally, Roth Mkm reiterated a “buy” rating and issued a $16.00 target price (down previously from $17.00) on shares of Topgolf Callaway Brands in a research report on Thursday, November 14th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Topgolf Callaway Brands has an average rating of “Hold” and a consensus price target of $14.92.

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.