Grace & White Inc. NY Decreases Holdings in Topgolf Callaway Brands Corp. (NYSE:MODG)

Grace & White Inc. NY trimmed its position in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) by 11.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 581,344 shares of the company’s stock after selling 78,150 shares during the period. Grace & White Inc. NY’s holdings in Topgolf Callaway Brands were worth $4,569,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of MODG. Augustine Asset Management Inc. lifted its position in Topgolf Callaway Brands by 7.4% in the 4th quarter. Augustine Asset Management Inc. now owns 21,843 shares of the company’s stock valued at $172,000 after purchasing an additional 1,500 shares during the last quarter. Thompson Investment Management Inc. increased its holdings in shares of Topgolf Callaway Brands by 11.1% in the fourth quarter. Thompson Investment Management Inc. now owns 362,299 shares of the company’s stock valued at $2,848,000 after buying an additional 36,201 shares in the last quarter. Empowered Funds LLC raised its position in shares of Topgolf Callaway Brands by 5.1% during the fourth quarter. Empowered Funds LLC now owns 325,106 shares of the company’s stock worth $2,555,000 after purchasing an additional 15,857 shares during the period. KBC Group NV lifted its stake in Topgolf Callaway Brands by 81.8% during the fourth quarter. KBC Group NV now owns 8,330 shares of the company’s stock valued at $65,000 after buying an additional 3,749 shares in the last quarter. Finally, Requisite Capital Management LLC purchased a new position in Topgolf Callaway Brands during the 4th quarter worth approximately $2,426,000. 84.69% of the stock is currently owned by institutional investors and hedge funds.

Topgolf Callaway Brands Stock Performance

Shares of NYSE MODG opened at $7.28 on Thursday. The business has a 50-day simple moving average of $8.07 and a two-hundred day simple moving average of $9.64. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 1.14. Topgolf Callaway Brands Corp. has a fifty-two week low of $7.16 and a fifty-two week high of $16.89.

Wall Street Analysts Forecast Growth

MODG has been the topic of a number of research reports. The Goldman Sachs Group dropped 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. JPMorgan Chase & Co. dropped their target price on shares of Topgolf Callaway Brands from $11.00 to $9.00 and set a “neutral” rating on the stock in a report on Thursday, January 23rd. 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 report on Thursday, November 14th. Jefferies Financial Group raised Topgolf Callaway Brands from a “hold” rating to a “buy” rating and raised their target price for the stock from $11.00 to $13.00 in a research report on Thursday, January 2nd. Finally, Truist Financial cut their target price on Topgolf Callaway Brands from $14.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Topgolf Callaway Brands has an average rating of “Hold” and an average price target of $14.67.

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.