Pathstone Holdings LLC Sells 194,439 Shares of Topgolf Callaway Brands Corp. (NYSE:MODG)

Pathstone Holdings LLC lessened its stake in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) by 55.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 156,762 shares of the company’s stock after selling 194,439 shares during the quarter. Pathstone Holdings LLC owned about 0.09% of Topgolf Callaway Brands worth $1,721,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Fifth Third Bancorp boosted its position in Topgolf Callaway Brands by 327.6% during the second quarter. Fifth Third Bancorp now owns 2,527 shares of the company’s stock worth $39,000 after purchasing an additional 1,936 shares during the period. nVerses Capital LLC bought a new stake in shares of Topgolf Callaway Brands during the 3rd quarter worth $133,000. Dnca Finance bought a new position in Topgolf Callaway Brands in the 2nd quarter worth $134,000. Koss Olinger Consulting LLC acquired a new position in Topgolf Callaway Brands during the 2nd quarter worth $160,000. Finally, Simon Quick Advisors LLC bought a new stake in Topgolf Callaway Brands during the second quarter valued at about $161,000. Institutional investors and hedge funds own 84.69% of the company’s stock.

Topgolf Callaway Brands Trading Down 0.1 %

Shares of MODG stock opened at $8.31 on Thursday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.14 and a current ratio of 1.93. The firm has a fifty day moving average of $9.87 and a 200-day moving average of $12.40. Topgolf Callaway Brands Corp. has a 52-week low of $7.95 and a 52-week high of $16.89. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of -103.80, a P/E/G ratio of 6.02 and a beta of 1.75.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on MODG shares. TD Cowen dropped their price objective on Topgolf Callaway Brands from $13.00 to $10.00 and set a “hold” rating on the stock in a research note on Tuesday, September 17th. Raymond James lowered Topgolf Callaway Brands from an “outperform” rating to an “underperform” rating in a report on Friday, August 23rd. Jefferies Financial Group cut Topgolf Callaway Brands from a “buy” rating to a “hold” rating and reduced their price objective for the company from $40.00 to $12.00 in a research report on Thursday, August 29th. Morgan Stanley dropped their target price on shares of Topgolf Callaway Brands from $11.00 to $10.00 and set an “underweight” rating on the stock in a research report on Thursday, August 8th. Finally, KeyCorp downgraded shares of Topgolf Callaway Brands from an “overweight” rating to a “sector weight” rating in a report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Topgolf Callaway Brands presently has a consensus rating of “Hold” and an average price target of $14.92.

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.