39,088 Shares in Topgolf Callaway Brands Corp. $MODG Bought by GSA Capital Partners LLP

GSA Capital Partners LLP bought a new position in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) during the third quarter, Holdings Channel reports. The fund bought 39,088 shares of the company’s stock, valued at approximately $371,000.

A number of other hedge funds and other institutional investors have also modified their holdings of MODG. Smartleaf Asset Management LLC increased its stake in Topgolf Callaway Brands by 42.3% in the 3rd quarter. Smartleaf Asset Management LLC now owns 3,893 shares of the company’s stock worth $37,000 after purchasing an additional 1,157 shares in the last quarter. CWM LLC boosted its holdings in shares of Topgolf Callaway Brands by 124.0% in the second quarter. CWM LLC now owns 4,679 shares of the company’s stock worth $38,000 after buying an additional 2,590 shares during the period. LSV Asset Management acquired a new position in shares of Topgolf Callaway Brands in the third quarter worth about $94,000. Nisa Investment Advisors LLC increased its position in shares of Topgolf Callaway Brands by 148.4% in the second quarter. Nisa Investment Advisors LLC now owns 10,563 shares of the company’s stock worth $85,000 after acquiring an additional 6,310 shares in the last quarter. Finally, iSAM Funds UK Ltd acquired a new stake in shares of Topgolf Callaway Brands during the second quarter valued at approximately $128,000. Institutional investors and hedge funds own 84.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on MODG shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Topgolf Callaway Brands in a research report on Monday, December 29th. Morgan Stanley set a $15.00 target price on Topgolf Callaway Brands in a research report on Thursday, January 15th. UBS Group reissued a “neutral” rating and set a $11.00 price target on shares of Topgolf Callaway Brands in a research report on Monday, November 24th. KeyCorp set a $17.00 price objective on Topgolf Callaway Brands and gave the stock an “overweight” rating in a research report on Friday, January 16th. Finally, Compass Point lifted their target price on Topgolf Callaway Brands from $14.50 to $17.50 and gave the company a “buy” rating in a research note on Monday, January 5th. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $12.94.

Topgolf Callaway Brands Price Performance

MODG opened at $14.59 on Friday. The stock has a fifty day moving average price of $13.84 and a 200 day moving average price of $11.35. The company has a current ratio of 1.87, a quick ratio of 1.30 and a debt-to-equity ratio of 0.60. Topgolf Callaway Brands Corp. has a 1 year low of $5.42 and a 1 year high of $15.02. The stock has a market cap of $2.68 billion, a price-to-earnings ratio of -1.78 and a beta of 0.92.

Topgolf Callaway Brands declared that its Board of Directors has authorized a stock repurchase plan on Monday, January 5th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to buy up to 9.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Topgolf Callaway Brands Profile

Topgolf Callaway Brands plc (NYSE: MODG) is a leading global sports and entertainment company formed through the merger of Callaway Golf Company and Topgolf Entertainment Group in July 2022. The company combines Callaway’s heritage in golf equipment design and manufacturing with Topgolf’s innovative, technology-driven entertainment venues. Topgolf Callaway Brands serves a diverse audience of golf enthusiasts, casual players and social visitors, offering experiences that span both competitive sport and leisure activities.

Under the Callaway Golf brand, the company develops and markets a broad portfolio of premium golf clubs, balls, accessories and apparel.