Arizona PSPRS Trust Invests $1.70 Million in Topgolf Callaway Brands Corp. (NYSE:MODG)

Arizona PSPRS Trust acquired a new stake in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 154,500 shares of the company’s stock, valued at approximately $1,696,000. Arizona PSPRS Trust owned about 0.08% of Topgolf Callaway Brands at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Fifth Third Bancorp boosted its position in Topgolf Callaway Brands by 327.6% during the second quarter. Fifth Third Bancorp now owns 2,527 shares of the company’s stock valued at $39,000 after buying an additional 1,936 shares during the period. nVerses Capital LLC bought a new position in Topgolf Callaway Brands during the 3rd quarter worth approximately $133,000. Dnca Finance purchased a new position in Topgolf Callaway Brands in the 2nd quarter worth approximately $134,000. Koss Olinger Consulting LLC bought a new stake in Topgolf Callaway Brands in the second quarter valued at approximately $160,000. Finally, Simon Quick Advisors LLC purchased a new stake in shares of Topgolf Callaway Brands during the second quarter valued at approximately $161,000. Institutional investors own 84.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on MODG. Jefferies Financial Group lowered shares of Topgolf Callaway Brands from a “buy” rating to a “hold” rating and lowered their price target for the company from $40.00 to $12.00 in a report on Thursday, August 29th. B. Riley downgraded shares of Topgolf Callaway Brands from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $18.00 to $12.00 in a research note on Thursday, October 17th. Raymond James downgraded Topgolf Callaway Brands from an “outperform” rating to an “underperform” rating in a report on Friday, August 23rd. JPMorgan Chase & Co. dropped their price objective on Topgolf Callaway Brands from $13.00 to $11.00 and set a “neutral” rating for the company in a report on Wednesday, November 13th. Finally, KeyCorp cut Topgolf Callaway Brands from an “overweight” rating to a “sector weight” rating in a research note on Thursday, August 8th. 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.com, Topgolf Callaway Brands has a consensus rating of “Hold” and a consensus target price of $14.92.

Topgolf Callaway Brands Stock Performance

Shares of MODG stock opened at $8.42 on Monday. The company’s fifty day moving average price is $9.72 and its 200-day moving average price is $12.28. The stock has a market cap of $1.55 billion, a PE ratio of -105.25, a price-to-earnings-growth ratio of 5.73 and a beta of 1.75. The company has a current ratio of 1.93, a quick ratio of 1.14 and a debt-to-equity ratio of 0.37. 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.