Creative Planning Lowers Holdings in Topgolf Callaway Brands Corp. (NYSE:MODG)

Creative Planning decreased its holdings in Topgolf Callaway Brands Corp. (NYSE:MODG) by 35.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,256 shares of the company’s stock after selling 7,945 shares during the quarter. Creative Planning’s holdings in Topgolf Callaway Brands were worth $157,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Fifth Third Bancorp raised its holdings in Topgolf Callaway Brands by 327.6% in 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 in the last quarter. Dnca Finance acquired a new stake in Topgolf Callaway Brands in the second quarter valued at approximately $134,000. Koss Olinger Consulting LLC acquired a new stake in Topgolf Callaway Brands in the second quarter valued at approximately $160,000. Simon Quick Advisors LLC acquired a new stake in Topgolf Callaway Brands in the second quarter valued at approximately $161,000. Finally, QRG Capital Management Inc. acquired a new stake in Topgolf Callaway Brands in the first quarter valued at approximately $178,000. Hedge funds and other institutional investors own 84.69% of the company’s stock.

Analyst Upgrades and Downgrades

MODG has been the topic of several analyst reports. Roth Mkm reaffirmed a “buy” rating and issued a $17.00 target price on shares of Topgolf Callaway Brands in a report on Thursday, September 5th. KeyCorp cut shares of Topgolf Callaway Brands from an “overweight” rating to a “sector weight” rating in a report on Thursday, August 8th. TD Cowen reduced their target price on shares of Topgolf Callaway Brands from $13.00 to $10.00 and set a “hold” rating on the stock in a report on Tuesday, September 17th. Morgan Stanley cut their price objective on shares of Topgolf Callaway Brands from $11.00 to $10.00 and set an “underweight” rating on the stock in a report on Thursday, August 8th. Finally, Jefferies Financial Group cut shares of Topgolf Callaway Brands from a “buy” rating to a “hold” rating and cut their price objective for the stock from $40.00 to $12.00 in a report on Thursday, August 29th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $15.73.

Topgolf Callaway Brands Stock Performance

Shares of Topgolf Callaway Brands stock opened at $9.66 on Tuesday. The firm’s fifty day simple moving average is $10.21 and its 200-day simple moving average is $12.98. The stock has a market capitalization of $1.78 billion, a price-to-earnings ratio of 96.60, a PEG ratio of 6.18 and a beta of 1.75. Topgolf Callaway Brands Corp. has a 12 month low of $9.05 and a 12 month 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 1.15.

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.