Grace & White Inc. NY Sells 78,150 Shares of Topgolf Callaway Brands Corp. (NYSE:MODG)

Grace & White Inc. NY lessened its stake in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) by 11.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 581,344 shares of the company’s stock after selling 78,150 shares during the period. Grace & White Inc. NY owned about 0.32% of Topgolf Callaway Brands worth $4,569,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. KBC Group NV raised its position in Topgolf Callaway Brands by 81.8% during the 4th quarter. KBC Group NV now owns 8,330 shares of the company’s stock valued at $65,000 after purchasing an additional 3,749 shares in the last quarter. nVerses Capital LLC bought a new stake in shares of Topgolf Callaway Brands in the third quarter valued at about $133,000. Quest Partners LLC purchased a new stake in Topgolf Callaway Brands in the third quarter worth about $161,000. International Assets Investment Management LLC grew its holdings in Topgolf Callaway Brands by 998.0% during the 3rd quarter. International Assets Investment Management LLC now owns 15,032 shares of the company’s stock worth $165,000 after acquiring an additional 13,663 shares in the last quarter. Finally, Augustine Asset Management Inc. increased its position in Topgolf Callaway Brands by 7.4% during the 4th quarter. Augustine Asset Management Inc. now owns 21,843 shares of the company’s stock valued at $172,000 after purchasing an additional 1,500 shares during the period. Hedge funds and other institutional investors own 84.69% of the company’s stock.

Analyst Upgrades and Downgrades

MODG has been the subject of several research reports. Jefferies Financial Group raised shares of Topgolf Callaway Brands from a “hold” rating to a “buy” rating and upped their price target for the stock from $11.00 to $13.00 in a research report on Thursday, January 2nd. The Goldman Sachs Group lowered their target price 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. JPMorgan Chase & Co. cut their price target on Topgolf Callaway Brands from $11.00 to $9.00 and set a “neutral” rating on the stock in a report on Thursday, January 23rd. B. Riley downgraded 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 report on Thursday, October 17th. Finally, Roth Mkm restated a “buy” rating and issued a $16.00 target price (down previously 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, six have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $14.67.

Topgolf Callaway Brands Stock Performance

Shares of NYSE MODG opened at $7.28 on Thursday. The company has a current ratio of 1.93, a quick ratio of 1.14 and a debt-to-equity ratio of 0.37. The firm has a 50-day moving average price of $8.07 and a 200 day moving average price of $9.64. Topgolf Callaway Brands Corp. has a 52 week low of $7.16 and a 52 week high of $16.89.

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.