Topgolf Callaway Brands Corp. (NYSE:MODG) Shares Purchased by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. raised its stake in Topgolf Callaway Brands Corp. (NYSE:MODG) by 14.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,886,496 shares of the company’s stock after acquiring an additional 241,755 shares during the period. Topgolf Callaway Brands accounts for approximately 0.6% of Harbor Capital Advisors Inc.’s portfolio, making the stock its 19th largest position. Harbor Capital Advisors Inc. owned approximately 1.03% of Topgolf Callaway Brands worth $14,828,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Sterneck Capital Management LLC raised its position in Topgolf Callaway Brands by 31.0% in the 4th quarter. Sterneck Capital Management LLC now owns 28,672 shares of the company’s stock valued at $225,000 after purchasing an additional 6,786 shares during the last quarter. Tidal Investments LLC raised its holdings in shares of Topgolf Callaway Brands by 35.7% in the third quarter. Tidal Investments LLC now owns 22,302 shares of the company’s stock valued at $245,000 after buying an additional 5,862 shares during the last quarter. Boyar Asset Management Inc. boosted its stake in shares of Topgolf Callaway Brands by 17.5% during the third quarter. Boyar Asset Management Inc. now owns 104,540 shares of the company’s stock worth $1,148,000 after buying an additional 15,532 shares during the period. Geode Capital Management LLC grew its holdings in shares of Topgolf Callaway Brands by 0.7% during the third quarter. Geode Capital Management LLC now owns 3,255,232 shares of the company’s stock worth $35,749,000 after buying an additional 22,003 shares during the last quarter. Finally, MML Investors Services LLC raised its stake in Topgolf Callaway Brands by 25.3% during the 3rd quarter. MML Investors Services LLC now owns 93,897 shares of the company’s stock valued at $1,031,000 after acquiring an additional 18,988 shares during the last quarter. Institutional investors and hedge funds own 84.69% of the company’s stock.

Topgolf Callaway Brands Price Performance

Shares of MODG stock traded down $0.16 during mid-day trading on Friday, reaching $8.48. The stock had a trading volume of 623,103 shares, compared to its average volume of 3,583,737. The company has a market cap of $1.56 billion, a P/E ratio of -105.99, a price-to-earnings-growth ratio of 5.39 and a beta of 1.70. 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 12-month low of $7.22 and a 12-month high of $16.89. The business has a 50-day simple moving average of $8.47 and a 200 day simple moving average of $10.87.

Analyst Ratings Changes

A number of equities analysts recently weighed in on MODG shares. JPMorgan Chase & Co. lowered their price objective on shares of Topgolf Callaway Brands from $13.00 to $11.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 13th. Bank of America dropped 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. Truist Financial reduced their price objective on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday. TD Cowen dropped their target price on Topgolf Callaway Brands from $13.00 to $10.00 and set a “hold” rating on the stock in a research report on Tuesday, September 17th. Finally, The Goldman Sachs Group reduced their price target on Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $14.83.

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.