Topgolf Callaway Brands Corp. (NYSE:MODG) Shares Bought by Empowered Funds LLC

Empowered Funds LLC raised its position in Topgolf Callaway Brands Corp. (NYSE:MODG) by 5.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 325,106 shares of the company’s stock after acquiring an additional 15,857 shares during the quarter. Empowered Funds LLC’s holdings in Topgolf Callaway Brands were worth $2,555,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its stake in Topgolf Callaway Brands by 8.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,995,667 shares of the company’s stock valued at $21,912,000 after buying an additional 148,451 shares during the period. PDT Partners LLC acquired a new position in Topgolf Callaway Brands in the 3rd quarter valued at $1,934,000. Harbor Capital Advisors Inc. increased its stake in Topgolf Callaway Brands by 115.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,644,741 shares of the company’s stock valued at $18,059,000 after buying an additional 881,535 shares during the period. Requisite Capital Management LLC acquired a new position in Topgolf Callaway Brands in the 4th quarter valued at $2,426,000. Finally, Blueshift Asset Management LLC increased its stake in Topgolf Callaway Brands by 965.8% in the 3rd quarter. Blueshift Asset Management LLC now owns 133,218 shares of the company’s stock valued at $1,463,000 after buying an additional 120,719 shares during the period. 84.69% of the stock is owned by institutional investors and hedge funds.

Topgolf Callaway Brands Trading Up 4.6 %

NYSE MODG opened at $7.58 on Friday. Topgolf Callaway Brands Corp. has a 12 month low of $7.13 and a 12 month high of $16.89. The company has a 50-day moving average of $8.06 and a 200-day moving average of $9.63. 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 company has a market cap of $1.39 billion, a P/E ratio of -94.79 and a beta of 1.70.

Wall Street Analysts Forecast Growth

MODG has been the topic of several recent research reports. Truist Financial dropped their price objective on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. JPMorgan Chase & Co. lowered their price target on shares of Topgolf Callaway Brands from $11.00 to $9.00 and set a “neutral” rating on the stock in a research note on Thursday, January 23rd. The Goldman Sachs Group lowered 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, November 14th. B. Riley cut shares of Topgolf Callaway Brands from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $18.00 to $12.00 in a research note on Thursday, October 17th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $16.00 price target (down from $17.00) on shares of Topgolf Callaway Brands in a research note on Thursday, November 14th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $14.67.

About Topgolf Callaway Brands

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.