New World Advisors LLC Purchases 6,500 Shares of Topgolf Callaway Brands Corp. (NYSE:MODG)

New World Advisors LLC increased its position in Topgolf Callaway Brands Corp. (NYSE:MODG) by 30.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,125 shares of the company’s stock after acquiring an additional 6,500 shares during the period. New World Advisors LLC’s holdings in Topgolf Callaway Brands were worth $221,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of MODG. Harbor Capital Advisors Inc. grew its holdings in shares of Topgolf Callaway Brands by 115.5% in the third quarter. Harbor Capital Advisors Inc. now owns 1,644,741 shares of the company’s stock worth $18,059,000 after acquiring an additional 881,535 shares during the period. LGT Capital Partners LTD. purchased a new position in Topgolf Callaway Brands during the third quarter valued at $6,588,000. Portolan Capital Management LLC purchased a new position in Topgolf Callaway Brands during the third quarter valued at $3,862,000. Empowered Funds LLC purchased a new position in Topgolf Callaway Brands during the third quarter valued at $3,396,000. Finally, Requisite Capital Management LLC purchased a new position in Topgolf Callaway Brands during the fourth quarter valued at $2,426,000. Institutional investors own 84.69% of the company’s stock.

Topgolf Callaway Brands Price Performance

NYSE:MODG opened at $7.02 on Monday. The company has a current ratio of 1.93, a quick ratio of 1.14 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $1.29 billion, a P/E ratio of -87.68 and a beta of 1.70. Topgolf Callaway Brands Corp. has a 12 month low of $6.98 and a 12 month high of $16.89. The business’s 50-day moving average is $7.96 and its 200 day moving average is $9.23.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MODG. JPMorgan Chase & Co. lowered their target price on Topgolf Callaway Brands from $11.00 to $9.00 and set a “neutral” rating on the stock in a research report on Thursday, January 23rd. Jefferies Financial Group upgraded Topgolf Callaway Brands from a “hold” rating to a “buy” rating and lifted their target price for the company from $11.00 to $13.00 in a research report on Thursday, January 2nd. Truist Financial lowered their target price on Topgolf Callaway Brands from $14.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. The Goldman Sachs Group lowered their target price on Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday, November 14th. Finally, Roth Mkm restated 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. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $14.36.

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.