Topgolf Callaway Brands Corp. (NYSE:MODG) Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC reduced its position in Topgolf Callaway Brands Corp. (NYSE:MODG) by 67.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,050,399 shares of the company’s stock after selling 2,223,381 shares during the period. Fisher Asset Management LLC owned about 0.57% of Topgolf Callaway Brands worth $11,533,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its stake in Topgolf Callaway Brands by 8.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,995,667 shares of the company’s stock valued at $21,912,000 after purchasing an additional 148,451 shares during the last quarter. Intech Investment Management LLC acquired a new position in shares of Topgolf Callaway Brands during the 3rd quarter valued at about $424,000. LGT Capital Partners LTD. purchased a new position in shares of Topgolf Callaway Brands during the 3rd quarter worth about $6,588,000. Prospera Financial Services Inc purchased a new position in shares of Topgolf Callaway Brands during the 3rd quarter worth about $211,000. Finally, Quest Partners LLC acquired a new stake in shares of Topgolf Callaway Brands in the third quarter worth approximately $161,000. 84.69% of the stock is currently owned by institutional investors and hedge funds.

Topgolf Callaway Brands Trading Down 0.1 %

NYSE MODG opened at $8.31 on Thursday. The stock has a market cap of $1.53 billion, a P/E ratio of -103.80, a PEG ratio of 6.02 and a beta of 1.75. The company’s fifty day simple moving average is $9.87 and its 200-day simple moving average is $12.40. 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 52 week low of $7.95 and a 52 week high of $16.89.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MODG. Bank of America cut 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, September 12th. Roth Mkm reaffirmed a “buy” rating and issued a $16.00 target price (down from $17.00) on shares of Topgolf Callaway Brands in a research report on Thursday, November 14th. JPMorgan Chase & Co. lowered their price target on Topgolf Callaway Brands from $13.00 to $11.00 and set a “neutral” rating for the company in a research report on Wednesday, November 13th. Raymond James downgraded Topgolf Callaway Brands from an “outperform” rating to an “underperform” rating in a report on Friday, August 23rd. Finally, Truist Financial decreased 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. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $14.92.

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.