LGT Capital Partners LTD. Purchases Shares of 600,000 Topgolf Callaway Brands Corp. (NYSE:MODG)

LGT Capital Partners LTD. acquired a new position in Topgolf Callaway Brands Corp. (NYSE:MODG) during the 3rd quarter, HoldingsChannel.com reports. The firm acquired 600,000 shares of the company’s stock, valued at approximately $6,588,000.

Other large investors have also recently modified their holdings of the company. UniSuper Management Pty Ltd purchased a new position in shares of Topgolf Callaway Brands in the first quarter worth about $643,000. Leonard Green & Partners L.P. bought a new stake in shares of Topgolf Callaway Brands in the second quarter worth about $97,173,000. Quadrature Capital Ltd bought a new stake in shares of Topgolf Callaway Brands in the first quarter worth about $677,000. Vanguard Group Inc. grew its stake in shares of Topgolf Callaway Brands by 0.5% in the first quarter. Vanguard Group Inc. now owns 15,484,400 shares of the company’s stock worth $250,383,000 after purchasing an additional 81,021 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its stake 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 purchasing an additional 881,535 shares during the last quarter. Hedge funds and other institutional investors own 84.69% of the company’s stock.

Wall Street Analysts Forecast Growth

MODG has been the topic of several recent analyst reports. TD Cowen cut their target price on 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. Jefferies Financial Group cut Topgolf Callaway Brands from a “buy” rating to a “hold” rating and dropped their price target for the stock from $40.00 to $12.00 in a research report on Thursday, August 29th. Morgan Stanley decreased their price objective on shares of Topgolf Callaway Brands from $11.00 to $10.00 and set an “underweight” rating for the company in a report on Thursday, August 8th. The Goldman Sachs Group decreased their price objective on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. Finally, Roth Mkm reiterated a “buy” rating and set a $16.00 target price (down from $17.00) on shares of Topgolf Callaway Brands in a research note on Thursday, November 14th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Topgolf Callaway Brands currently has an average rating of “Hold” and a consensus target price of $14.92.

Topgolf Callaway Brands Stock Performance

MODG opened at $8.17 on Tuesday. The firm has a 50-day simple moving average of $10.02 and a two-hundred day simple moving average of $12.72. Topgolf Callaway Brands Corp. has a 52 week low of $8.16 and a 52 week high of $16.89. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 1.14.

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.