Topgolf Callaway Brands Corp. (NYSE:MODG) Shares Acquired by Sterneck Capital Management LLC

Sterneck Capital Management LLC lifted its stake in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) by 31.0% in the fourth quarter, Holdings Channel reports. The firm owned 28,672 shares of the company’s stock after buying an additional 6,786 shares during the period. Sterneck Capital Management LLC’s holdings in Topgolf Callaway Brands were worth $225,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Leonard Green & Partners L.P. purchased a new stake in Topgolf Callaway Brands during the 2nd quarter worth approximately $97,173,000. Charles Schwab Investment Management Inc. increased its position in shares of Topgolf Callaway Brands by 8.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,995,667 shares of the company’s stock worth $21,912,000 after purchasing an additional 148,451 shares in the last quarter. PDT Partners LLC acquired a new position in Topgolf Callaway Brands in the 3rd quarter valued at $1,934,000. Harbor Capital Advisors Inc. lifted its holdings in Topgolf Callaway Brands by 115.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,644,741 shares of the company’s stock valued at $18,059,000 after purchasing an additional 881,535 shares in the last quarter. Finally, Empowered Funds LLC acquired a new stake in Topgolf Callaway Brands during the 3rd quarter worth $3,396,000. Institutional investors and hedge funds own 84.69% of the company’s stock.

Topgolf Callaway Brands Stock Down 1.4 %

MODG opened at $8.92 on Wednesday. Topgolf Callaway Brands Corp. has a 52 week low of $7.22 and a 52 week high of $16.89. The business has a 50 day moving average price of $8.52 and a two-hundred day moving average price of $10.91. The company has a quick ratio of 1.14, a current ratio of 1.93 and a debt-to-equity ratio of 0.37. The company has a market cap of $1.64 billion, a PE ratio of -111.49, a P/E/G ratio of 5.62 and a beta of 1.70.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Truist Financial dropped 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 note on Tuesday. B. Riley cut 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 research note on Thursday, October 17th. TD Cowen cut their target price on shares of Topgolf Callaway Brands from $13.00 to $10.00 and set a “hold” rating on the stock in a research note on Tuesday, September 17th. The Goldman Sachs Group reduced their price target 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 reaffirmed a “buy” rating and set a $16.00 price objective (down from $17.00) on shares of Topgolf Callaway Brands in a research report on Thursday, November 14th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $14.83.

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.