Capstone Investment Advisors LLC Sells 41,965 Shares of Topgolf Callaway Brands Corp. (NYSE:MODG)

Capstone Investment Advisors LLC trimmed its holdings in Topgolf Callaway Brands Corp. (NYSE:MODG) by 78.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 11,460 shares of the company’s stock after selling 41,965 shares during the quarter. Capstone Investment Advisors LLC’s holdings in Topgolf Callaway Brands were worth $126,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of MODG. Dimensional Fund Advisors LP boosted its holdings in Topgolf Callaway Brands by 21.8% in the second quarter. Dimensional Fund Advisors LP now owns 8,646,731 shares of the company’s stock worth $132,296,000 after purchasing an additional 1,549,222 shares in the last quarter. Leonard Green & Partners L.P. acquired a new position in shares of Topgolf Callaway Brands during the 2nd quarter valued at about $97,173,000. American Century Companies Inc. raised its stake in shares of Topgolf Callaway Brands by 60.8% in the 2nd quarter. American Century Companies Inc. now owns 3,178,681 shares of the company’s stock valued at $48,634,000 after acquiring an additional 1,202,347 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Topgolf Callaway Brands by 8.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,995,667 shares of the company’s stock worth $21,912,000 after purchasing an additional 148,451 shares during the last quarter. Finally, Bwcp LP boosted its position in Topgolf Callaway Brands by 20.3% during the second quarter. Bwcp LP now owns 1,853,048 shares of the company’s stock worth $28,352,000 after purchasing an additional 312,836 shares during the period. Institutional investors and hedge funds own 84.69% of the company’s stock.

Analysts Set New Price Targets

MODG has been the subject of a number of analyst reports. B. Riley cut shares of Topgolf Callaway Brands from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $18.00 to $12.00 in a research note on Thursday, October 17th. The Goldman Sachs Group dropped their target price on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, November 14th. Roth Mkm restated a “buy” rating and set a $16.00 price target (down from $17.00) on shares of Topgolf Callaway Brands in a report on Thursday, November 14th. Truist Financial dropped their price objective on Topgolf Callaway Brands from $16.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. Finally, TD Cowen decreased their target price on Topgolf Callaway Brands from $13.00 to $10.00 and set a “hold” rating for the company in a research note on Tuesday, September 17th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $14.92.

Topgolf Callaway Brands Stock Performance

MODG stock opened at $8.42 on Monday. The company has a 50 day moving average price of $9.72 and a 200 day moving average price of $12.28. Topgolf Callaway Brands Corp. has a fifty-two week low of $7.95 and a fifty-two week high of $16.89. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 1.14. The stock has a market capitalization of $1.55 billion, a PE ratio of -105.25, a price-to-earnings-growth ratio of 5.73 and a beta of 1.75.

Topgolf Callaway Brands Company 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.