BNP Paribas Financial Markets Reduces Stake in Topgolf Callaway Brands Corp. (NYSE:MODG)

BNP Paribas Financial Markets cut its stake in Topgolf Callaway Brands Corp. (NYSE:MODG) by 18.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 38,874 shares of the company’s stock after selling 8,937 shares during the quarter. BNP Paribas Financial Markets’ holdings in Topgolf Callaway Brands were worth $427,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Louisiana State Employees Retirement System raised its stake in Topgolf Callaway Brands by 1.0% in the 2nd quarter. Louisiana State Employees Retirement System now owns 71,100 shares of the company’s stock valued at $1,088,000 after purchasing an additional 700 shares during the last quarter. Creative Planning raised its stake in Topgolf Callaway Brands by 6.8% in the 2nd quarter. Creative Planning now owns 22,201 shares of the company’s stock valued at $340,000 after purchasing an additional 1,415 shares during the last quarter. SG Americas Securities LLC raised its stake in Topgolf Callaway Brands by 5.2% in the 2nd quarter. SG Americas Securities LLC now owns 36,961 shares of the company’s stock valued at $566,000 after purchasing an additional 1,819 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Topgolf Callaway Brands by 2.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 78,434 shares of the company’s stock valued at $1,200,000 after purchasing an additional 1,888 shares during the last quarter. Finally, Fifth Third Bancorp raised its stake 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. 84.69% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on MODG shares. The Goldman Sachs Group reduced their price objective on Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, November 14th. Roth Mkm restated a “buy” rating and issued a $16.00 target price (down from $17.00) on shares of Topgolf Callaway Brands in a report on Thursday, November 14th. TD Cowen dropped their target price on Topgolf Callaway Brands from $13.00 to $10.00 and set a “hold” rating for the company in a report on Tuesday, September 17th. Truist Financial dropped their target price on Topgolf Callaway Brands from $16.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, November 13th. Finally, Bank of America dropped 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, September 12th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $14.92.

Topgolf Callaway Brands Stock Performance

NYSE MODG opened at $7.92 on Friday. The stock has a market cap of $1.46 billion, a PE ratio of -99.00, a P/E/G 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 $7.76 and a twelve month high of $16.89. The stock has a fifty day simple moving average of $9.26 and a 200-day simple moving average of $11.80.

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.