Arizona PSPRS Trust Makes New Investment in Topgolf Callaway Brands Corp. (NYSE:MODG)

Arizona PSPRS Trust bought a new position in Topgolf Callaway Brands Corp. (NYSE:MODG) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 154,500 shares of the company’s stock, valued at approximately $1,696,000.

Other large investors have also recently modified their holdings of the company. Paloma Partners Management Co bought a new stake in shares of Topgolf Callaway Brands during the third quarter valued at approximately $200,000. Edgestream Partners L.P. purchased a new stake in Topgolf Callaway Brands during the 3rd quarter valued at $417,000. PDT Partners LLC bought a new stake in shares of Topgolf Callaway Brands in the 3rd quarter worth $1,934,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Topgolf Callaway Brands by 1.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 355,256 shares of the company’s stock worth $3,901,000 after purchasing an additional 3,841 shares during the last quarter. Finally, Blueshift Asset Management LLC lifted its holdings in shares of Topgolf Callaway Brands by 965.8% during the third quarter. Blueshift Asset Management LLC now owns 133,218 shares of the company’s stock valued at $1,463,000 after purchasing an additional 120,719 shares in the last quarter. Hedge funds and other institutional investors own 84.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MODG. Jefferies Financial Group lowered Topgolf Callaway Brands from a “buy” rating to a “hold” rating and decreased their target price for the stock from $40.00 to $12.00 in a research report on Thursday, August 29th. KeyCorp cut shares of Topgolf Callaway Brands from an “overweight” rating to a “sector weight” rating in a report on Thursday, August 8th. 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. Raymond James lowered shares of Topgolf Callaway Brands from an “outperform” rating to an “underperform” rating in a research note on Friday, August 23rd. Finally, Bank of America dropped their price target on 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. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $14.92.

Topgolf Callaway Brands Stock Performance

NYSE:MODG opened at $8.42 on Monday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.14 and a current ratio of 1.93. The stock has a 50-day simple moving average of $9.72 and a two-hundred day simple moving average of $12.28. The firm has a market capitalization of $1.55 billion, a PE ratio of -105.25, a P/E/G ratio of 5.73 and a beta of 1.75. Topgolf Callaway Brands Corp. has a 52-week low of $7.95 and a 52-week high of $16.89.

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.