Verition Fund Management LLC Has $7.02 Million Stock Position in Topgolf Callaway Brands Corp. (NYSE:MODG)

Verition Fund Management LLC lessened its holdings in Topgolf Callaway Brands Corp. (NYSE:MODG) by 29.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 639,471 shares of the company’s stock after selling 264,014 shares during the quarter. Verition Fund Management LLC owned 0.35% of Topgolf Callaway Brands worth $7,021,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Louisiana State Employees Retirement System boosted its stake in Topgolf Callaway Brands by 1.0% in the second quarter. Louisiana State Employees Retirement System now owns 71,100 shares of the company’s stock valued at $1,088,000 after buying an additional 700 shares in the last quarter. Creative Planning grew its holdings in shares of Topgolf Callaway Brands by 6.8% during 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 increased its position in Topgolf Callaway Brands by 5.2% during the 2nd quarter. SG Americas Securities LLC now owns 36,961 shares of the company’s stock worth $566,000 after purchasing an additional 1,819 shares in the last quarter. The Manufacturers Life Insurance Company lifted 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 grew its stake in shares of 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 buying an additional 1,936 shares during the last quarter. Institutional investors own 84.69% of the company’s stock.

Wall Street Analyst Weigh In

MODG has been the topic of several recent research reports. Raymond James downgraded Topgolf Callaway Brands from an “outperform” rating to an “underperform” rating in a report on Friday, August 23rd. Truist Financial reduced their price target on Topgolf Callaway Brands from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. B. Riley lowered shares of Topgolf Callaway Brands from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $18.00 to $12.00 in a report on Thursday, October 17th. JPMorgan Chase & Co. reduced their target price on shares of Topgolf Callaway Brands from $13.00 to $11.00 and set a “neutral” rating on the stock in a report on Wednesday, November 13th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $16.00 price target (down previously from $17.00) on shares of Topgolf Callaway Brands in a research note on Thursday, November 14th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $14.92.

Topgolf Callaway Brands Stock Up 1.4 %

Shares of NYSE:MODG opened at $8.42 on Monday. The business’s 50-day moving average is $9.72 and its 200-day moving average is $12.28. Topgolf Callaway Brands Corp. has a 1 year low of $7.95 and a 1 year high of $16.89. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of -105.25, a P/E/G ratio of 5.73 and a beta of 1.75. 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 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.