Asset Planning Inc Purchases Shares of 4,155 Topgolf Callaway Brands Corp. (NYSE:MODG)

Asset Planning Inc purchased a new stake in Topgolf Callaway Brands Corp. (NYSE:MODG) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 4,155 shares of the company’s stock, valued at approximately $33,000.

A number of other institutional investors have also made changes to their positions in MODG. Creative Planning lifted its position in shares of Topgolf Callaway Brands by 6.8% in the second quarter. Creative Planning now owns 22,201 shares of the company’s stock worth $340,000 after purchasing an additional 1,415 shares in the last quarter. nVerses Capital LLC bought a new stake in shares of Topgolf Callaway Brands in the third quarter worth $133,000. Everence Capital Management Inc. lifted its position in shares of Topgolf Callaway Brands by 63.1% in the third quarter. Everence Capital Management Inc. now owns 27,900 shares of the company’s stock worth $306,000 after purchasing an additional 10,790 shares in the last quarter. International Assets Investment Management LLC increased its holdings in Topgolf Callaway Brands by 998.0% during the third quarter. International Assets Investment Management LLC now owns 15,032 shares of the company’s stock worth $165,000 after buying an additional 13,663 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in Topgolf Callaway Brands during the third quarter worth $482,000. Institutional investors own 84.69% of the company’s stock.

Topgolf Callaway Brands Trading Down 4.6 %

MODG stock opened at $7.24 on Friday. 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 company’s 50-day simple moving average is $8.04 and its 200 day simple moving average is $9.57. Topgolf Callaway Brands Corp. has a 52 week low of $7.13 and a 52 week high of $16.89. The company has a market capitalization of $1.33 billion, a PE ratio of -90.43 and a beta of 1.70.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MODG. The Goldman Sachs Group lowered 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. Jefferies Financial Group upgraded shares of Topgolf Callaway Brands from a “hold” rating to a “buy” rating and boosted their target price for the stock from $11.00 to $13.00 in a report on Thursday, January 2nd. Truist Financial lowered their target price on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. JPMorgan Chase & Co. lowered their target price on shares of Topgolf Callaway Brands from $11.00 to $9.00 and set a “neutral” rating on the stock in a report on Thursday, January 23rd. Finally, Roth Mkm reiterated a “buy” rating and issued a $16.00 price objective (down from $17.00) on shares of Topgolf Callaway Brands in a report on Thursday, November 14th. Two equities research 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. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $14.36.

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.