International Assets Investment Management LLC Has $165,000 Holdings in Topgolf Callaway Brands Corp. (NYSE:MODG)

International Assets Investment Management LLC raised its stake in Topgolf Callaway Brands Corp. (NYSE:MODG) by 998.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,032 shares of the company’s stock after buying an additional 13,663 shares during the quarter. International Assets Investment Management LLC’s holdings in Topgolf Callaway Brands were worth $165,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC raised its holdings in Topgolf Callaway Brands by 34.2% in the first quarter. Commonwealth Equity Services LLC now owns 38,807 shares of the company’s stock worth $628,000 after purchasing an additional 9,884 shares during the period. BNP Paribas Financial Markets lifted its holdings in Topgolf Callaway Brands by 7.5% during the first quarter. BNP Paribas Financial Markets now owns 272,599 shares of the company’s stock worth $4,408,000 after acquiring an additional 18,965 shares in the last quarter. Texas Permanent School Fund Corp grew its stake in Topgolf Callaway Brands by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 124,043 shares of the company’s stock valued at $2,006,000 after acquiring an additional 1,633 shares during the period. SG Americas Securities LLC increased its holdings in shares of Topgolf Callaway Brands by 50.8% in the first quarter. SG Americas Securities LLC now owns 35,142 shares of the company’s stock worth $568,000 after acquiring an additional 11,841 shares in the last quarter. Finally, Illinois Municipal Retirement Fund acquired a new stake in shares of Topgolf Callaway Brands during the first quarter worth about $1,360,000. Institutional investors and hedge funds own 84.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on MODG shares. KeyCorp lowered Topgolf Callaway Brands from an “overweight” rating to a “sector weight” rating in a research report on Thursday, August 8th. Raymond James cut shares of Topgolf Callaway Brands from an “outperform” rating to an “underperform” rating in a report on Friday, August 23rd. Morgan Stanley cut their price objective on shares of Topgolf Callaway Brands from $11.00 to $10.00 and set an “underweight” rating on the stock in a research report on Thursday, August 8th. Truist Financial reduced their target price on shares of Topgolf Callaway Brands from $20.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Finally, Roth Mkm reissued a “buy” rating and issued a $17.00 price target on shares of Topgolf Callaway Brands in a research note on Thursday, September 5th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Topgolf Callaway Brands presently has a consensus rating of “Hold” and a consensus target price of $15.31.

Topgolf Callaway Brands Stock Performance

Shares of MODG stock opened at $9.75 on Friday. The company has a market capitalization of $1.79 billion, a price-to-earnings ratio of 97.50, a PEG ratio of 6.37 and a beta of 1.75. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.15 and a current ratio of 1.93. Topgolf Callaway Brands Corp. has a 52 week low of $9.05 and a 52 week high of $16.89. The company has a 50-day simple moving average of $10.23 and a 200 day simple moving average of $13.13.

Topgolf Callaway Brands (NYSE:MODG) last posted its earnings results on Wednesday, August 7th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.28 by $0.14. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.19 billion. Topgolf Callaway Brands had a return on equity of 2.07% and a net margin of 0.50%. The firm’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.39 earnings per share. On average, sell-side analysts predict that Topgolf Callaway Brands Corp. will post 0.18 earnings per share for the current year.

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.