Davis Investment Partners LLC Sells 13,700 Shares of Topgolf Callaway Brands Corp. (NYSE:MODG)

Davis Investment Partners LLC decreased its position in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) by 17.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 63,001 shares of the company’s stock after selling 13,700 shares during the quarter. Davis Investment Partners LLC’s holdings in Topgolf Callaway Brands were worth $532,000 as of its most recent SEC filing.

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

Topgolf Callaway Brands Stock Performance

MODG traded down $0.15 during trading hours on Monday, hitting $8.29. The stock had a trading volume of 2,394,845 shares, compared to its average volume of 3,647,615. Topgolf Callaway Brands Corp. has a 1 year low of $7.22 and a 1 year high of $16.89. The company’s fifty day simple moving average is $8.45 and its 200 day simple moving average is $10.76. The stock has a market cap of $1.52 billion, a PE ratio of -103.61, a price-to-earnings-growth ratio of 5.39 and a beta of 1.70. The company has a quick ratio of 1.14, a current ratio of 1.93 and a debt-to-equity ratio of 0.37.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on MODG shares. B. Riley cut Topgolf Callaway Brands from a “buy” rating to a “neutral” rating and cut their target price for the stock from $18.00 to $12.00 in a report on Thursday, October 17th. JPMorgan Chase & Co. reduced their price objective on shares of Topgolf Callaway Brands from $13.00 to $11.00 and set a “neutral” rating for the company in a report on Wednesday, November 13th. TD Cowen lowered 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. Jefferies Financial Group upgraded Topgolf Callaway Brands from a “hold” rating to a “buy” rating and lifted their price target for the company from $11.00 to $13.00 in a research note on Thursday, January 2nd. Finally, Roth Mkm reissued a “buy” rating and issued a $16.00 price objective (down from $17.00) on shares of Topgolf Callaway Brands in a research note on Thursday, November 14th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Topgolf Callaway Brands has an average rating of “Hold” and a consensus price target of $14.83.

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.