39,088 Shares in Topgolf Callaway Brands Corp. $MODG Purchased by GSA Capital Partners LLP

GSA Capital Partners LLP acquired a new stake in Topgolf Callaway Brands Corp. (NYSE:MODG) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 39,088 shares of the company’s stock, valued at approximately $371,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Smartleaf Asset Management LLC increased its stake in shares of Topgolf Callaway Brands by 42.3% in the third quarter. Smartleaf Asset Management LLC now owns 3,893 shares of the company’s stock valued at $37,000 after purchasing an additional 1,157 shares during the period. CWM LLC increased its position in Topgolf Callaway Brands by 124.0% in the 2nd quarter. CWM LLC now owns 4,679 shares of the company’s stock valued at $38,000 after acquiring an additional 2,590 shares during the period. Nisa Investment Advisors LLC raised its stake in Topgolf Callaway Brands by 148.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 10,563 shares of the company’s stock valued at $85,000 after acquiring an additional 6,310 shares in the last quarter. LSV Asset Management bought a new stake in Topgolf Callaway Brands during the 3rd quarter valued at $94,000. Finally, Focus Partners Wealth acquired a new position in Topgolf Callaway Brands during the 1st quarter worth $109,000. Institutional investors own 84.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on MODG shares. Compass Point raised their price target on Topgolf Callaway Brands from $14.50 to $17.50 and gave the company a “buy” rating in a report on Monday, January 5th. UBS Group reissued a “neutral” rating and set a $11.00 target price on shares of Topgolf Callaway Brands in a research note on Monday, November 24th. JPMorgan Chase & Co. upped their price target on shares of Topgolf Callaway Brands from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Topgolf Callaway Brands in a report on Monday, December 29th. Finally, Truist Financial raised their price objective on shares of Topgolf Callaway Brands from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Four analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Topgolf Callaway Brands has a consensus rating of “Hold” and a consensus price target of $12.94.

Topgolf Callaway Brands Stock Performance

Shares of MODG opened at $14.59 on Friday. The firm’s 50 day moving average is $13.84 and its 200-day moving average is $11.35. The stock has a market capitalization of $2.68 billion, a P/E ratio of -1.78 and a beta of 0.92. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.87 and a quick ratio of 1.30. Topgolf Callaway Brands Corp. has a 12-month low of $5.42 and a 12-month high of $15.02.

Topgolf Callaway Brands declared that its board has initiated a stock buyback plan on Monday, January 5th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 9.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

About Topgolf Callaway Brands

Topgolf Callaway Brands plc (NYSE: MODG) is a leading global sports and entertainment company formed through the merger of Callaway Golf Company and Topgolf Entertainment Group in July 2022. The company combines Callaway’s heritage in golf equipment design and manufacturing with Topgolf’s innovative, technology-driven entertainment venues. Topgolf Callaway Brands serves a diverse audience of golf enthusiasts, casual players and social visitors, offering experiences that span both competitive sport and leisure activities.

Under the Callaway Golf brand, the company develops and markets a broad portfolio of premium golf clubs, balls, accessories and apparel.