Graypoint LLC Sells 7,900 Shares of Topgolf Callaway Brands Corp. (NYSE:MODG)

Graypoint LLC decreased its position in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) by 28.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,260 shares of the company’s stock after selling 7,900 shares during the quarter. Graypoint LLC’s holdings in Topgolf Callaway Brands were worth $159,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of MODG. nVerses Capital LLC bought a new position in Topgolf Callaway Brands in the 3rd quarter valued at $133,000. Quest Partners LLC bought a new position in Topgolf Callaway Brands in the 3rd quarter valued at $161,000. International Assets Investment Management LLC grew its stake in Topgolf Callaway Brands by 998.0% in the 3rd quarter. International Assets Investment Management LLC now owns 15,032 shares of the company’s stock valued at $165,000 after purchasing an additional 13,663 shares during the period. Park Avenue Securities LLC grew its stake in Topgolf Callaway Brands by 13.5% in the 3rd quarter. Park Avenue Securities LLC now owns 16,679 shares of the company’s stock valued at $183,000 after purchasing an additional 1,985 shares during the period. Finally, Lansing Street Advisors bought a new position in Topgolf Callaway Brands in the 3rd quarter valued at $187,000. Institutional investors own 84.69% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on MODG. JPMorgan Chase & Co. dropped 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. Truist Financial dropped their price target on Topgolf Callaway Brands from $14.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. TD Cowen dropped their price target on Topgolf Callaway Brands from $13.00 to $10.00 and set a “hold” rating on the stock in a research report on Tuesday, September 17th. Roth Mkm reaffirmed a “buy” rating and set a $16.00 price target (down previously from $17.00) on shares of Topgolf Callaway Brands in a research report on Thursday, November 14th. Finally, B. Riley cut Topgolf Callaway Brands from a “buy” rating to a “neutral” rating and dropped their price target 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, six have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $14.83.

Topgolf Callaway Brands Price Performance

MODG opened at $8.47 on Monday. Topgolf Callaway Brands Corp. has a 1 year low of $7.22 and a 1 year high of $16.89. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 1.14. The stock’s 50 day simple moving average is $8.45 and its 200 day simple moving average is $10.76. The firm has a market cap of $1.56 billion, a price-to-earnings ratio of -105.86, a PEG ratio of 5.39 and a beta of 1.70.

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.