Requisite Capital Management LLC Makes New $2.43 Million Investment in Topgolf Callaway Brands Corp. (NYSE:MODG)

Requisite Capital Management LLC purchased a new position in Topgolf Callaway Brands Corp. (NYSE:MODG) in the 4th quarter, HoldingsChannel reports. The fund purchased 308,649 shares of the company’s stock, valued at approximately $2,426,000. Topgolf Callaway Brands comprises approximately 0.5% of Requisite Capital Management LLC’s holdings, making the stock its 20th biggest position.

A number of other large investors have also modified their holdings of the stock. Envestnet Asset Management Inc. grew its stake in Topgolf Callaway Brands by 18.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 236,597 shares of the company’s stock worth $3,620,000 after purchasing an additional 37,376 shares in the last quarter. Hsbc Holdings PLC boosted its stake in shares of Topgolf Callaway Brands by 16.3% in the 2nd quarter. Hsbc Holdings PLC now owns 37,151 shares of the company’s stock valued at $567,000 after buying an additional 5,209 shares during the period. XTX Topco Ltd purchased a new stake in shares of Topgolf Callaway Brands during the second quarter worth approximately $218,000. Sei Investments Co. raised its holdings in shares of Topgolf Callaway Brands by 61.8% in the 2nd quarter. Sei Investments Co. now owns 391,343 shares of the company’s stock valued at $5,987,000 after purchasing an additional 149,545 shares in the last quarter. Finally, Marshall Wace LLP lifted its holdings in Topgolf Callaway Brands by 27.1% during the 2nd quarter. Marshall Wace LLP now owns 644,734 shares of the company’s stock worth $9,864,000 after buying an additional 137,365 shares during the last quarter. Hedge funds and other institutional investors own 84.69% of the company’s stock.

Topgolf Callaway Brands Stock Performance

Topgolf Callaway Brands stock opened at $8.02 on Friday. The business has a 50 day simple moving average of $8.21 and a 200-day simple moving average of $10.32. Topgolf Callaway Brands Corp. has a 12 month low of $7.22 and a 12 month high of $16.89. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.14 and a current ratio of 1.93.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Roth Mkm reiterated a “buy” rating and issued a $16.00 price objective (down previously from $17.00) on shares of Topgolf Callaway Brands in a report on Thursday, November 14th. Truist Financial dropped their price target on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. JPMorgan Chase & Co. reduced their price objective on shares of Topgolf Callaway Brands from $11.00 to $9.00 and set a “neutral” rating for the company in a research report on Thursday. B. Riley lowered shares of Topgolf Callaway Brands from a “buy” rating to a “neutral” rating and cut their price target for the stock from $18.00 to $12.00 in a research note on Thursday, October 17th. Finally, 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 research note 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 issued a buy rating to the company’s stock. According to MarketBeat.com, Topgolf Callaway Brands has an average rating of “Hold” and a consensus target price of $14.67.

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.