Topgolf Callaway Brands Corp. (NYSE:MODG) Shares Sold by Public Sector Pension Investment Board

Public Sector Pension Investment Board decreased its holdings in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) by 3.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 300,281 shares of the company’s stock after selling 10,700 shares during the quarter. Public Sector Pension Investment Board’s holdings in Topgolf Callaway Brands were worth $3,297,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Leonard Green & Partners L.P. acquired a new stake in shares of Topgolf Callaway Brands during the 2nd quarter worth about $97,173,000. Dimensional Fund Advisors LP increased its position in shares of Topgolf Callaway Brands by 21.8% during the second quarter. Dimensional Fund Advisors LP now owns 8,646,731 shares of the company’s stock valued at $132,296,000 after acquiring an additional 1,549,222 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Topgolf Callaway Brands by 60.8% in the 2nd quarter. American Century Companies Inc. now owns 3,178,681 shares of the company’s stock valued at $48,634,000 after acquiring an additional 1,202,347 shares during the period. Granite Investment Partners LLC acquired a new position in shares of Topgolf Callaway Brands in the 2nd quarter worth approximately $13,757,000. Finally, Harbor Capital Advisors Inc. boosted its position in shares of Topgolf Callaway Brands by 115.5% during the 3rd 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 period. Hedge funds and other institutional investors own 84.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on MODG shares. The Goldman Sachs Group cut their target price 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. JPMorgan Chase & Co. decreased their target price on Topgolf Callaway Brands from $13.00 to $11.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 13th. Roth Mkm reaffirmed a “buy” rating and issued a $16.00 target price (down from $17.00) on shares of Topgolf Callaway Brands in a research report on Thursday, November 14th. Truist Financial reduced their price target on shares of Topgolf Callaway Brands from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Finally, Jefferies Financial Group cut shares of Topgolf Callaway Brands from a “buy” rating to a “hold” rating and dropped their price objective for the company from $40.00 to $12.00 in a report on Thursday, August 29th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $14.92.

Topgolf Callaway Brands Price Performance

Topgolf Callaway Brands stock opened at $8.21 on Wednesday. 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 fifty day simple moving average of $9.68 and a 200-day simple moving average of $12.21. Topgolf Callaway Brands Corp. has a 12-month low of $7.95 and a 12-month high of $16.89.

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.