Topgolf Callaway Brands Corp. (NYSE:MODG) Shares Sold by Barclays PLC

Barclays PLC cut its stake in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) by 88.0% in the third quarter, Holdings Channel.com reports. The fund owned 294,080 shares of the company’s stock after selling 2,148,437 shares during the period. Barclays PLC’s holdings in Topgolf Callaway Brands were worth $3,229,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fifth Third Bancorp increased its holdings in Topgolf Callaway Brands by 327.6% in the 2nd quarter. Fifth Third Bancorp now owns 2,527 shares of the company’s stock valued at $39,000 after purchasing an additional 1,936 shares during the last quarter. nVerses Capital LLC purchased a new position in shares of Topgolf Callaway Brands during the third quarter worth $133,000. Koss Olinger Consulting LLC acquired a new stake in shares of Topgolf Callaway Brands in the second quarter valued at $160,000. Simon Quick Advisors LLC acquired a new position in Topgolf Callaway Brands during the 2nd quarter worth about $161,000. Finally, Quest Partners LLC purchased a new position in Topgolf Callaway Brands during the 3rd quarter valued at about $161,000. 84.69% of the stock is owned by hedge funds and other institutional investors.

Topgolf Callaway Brands Stock Up 4.3 %

MODG stock opened at $7.77 on Tuesday. The stock has a market cap of $1.43 billion, a P/E ratio of -97.11, a PEG 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. Topgolf Callaway Brands Corp. has a twelve month low of $7.22 and a twelve month high of $16.89. The company’s 50 day moving average is $9.02 and its two-hundred day moving average is $11.49.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Bank of America cut 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. Jefferies Financial Group cut shares of Topgolf Callaway Brands from a “buy” rating to a “hold” rating and decreased their price target for the company from $40.00 to $12.00 in a research report on Thursday, August 29th. Roth Mkm reaffirmed a “buy” rating and set a $16.00 price objective (down previously from $17.00) on shares of Topgolf Callaway Brands in a research report on Thursday, November 14th. The Goldman Sachs Group decreased their target price on Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. Finally, Truist Financial cut their price target on Topgolf Callaway Brands from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. Two investment 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 data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $14.92.

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.