Augustine Asset Management Inc. Buys 1,500 Shares of Topgolf Callaway Brands Corp. (NYSE:MODG)

Augustine Asset Management Inc. boosted its stake in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) by 7.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 21,843 shares of the company’s stock after buying an additional 1,500 shares during the quarter. Augustine Asset Management Inc.’s holdings in Topgolf Callaway Brands were worth $172,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in MODG. KBC Group NV grew its stake in Topgolf Callaway Brands by 81.8% during the fourth quarter. KBC Group NV now owns 8,330 shares of the company’s stock worth $65,000 after purchasing an additional 3,749 shares during the period. nVerses Capital LLC acquired a new stake in shares of Topgolf Callaway Brands during the 3rd quarter worth approximately $133,000. Quest Partners LLC bought a new stake in shares of Topgolf Callaway Brands in the 3rd quarter valued at $161,000. International Assets Investment Management LLC lifted its position in shares of 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 valued at $165,000 after acquiring an additional 13,663 shares during the period. Finally, Park Avenue Securities LLC boosted its stake in Topgolf Callaway Brands by 13.5% during the third quarter. Park Avenue Securities LLC now owns 16,679 shares of the company’s stock worth $183,000 after acquiring an additional 1,985 shares in the last quarter. Institutional investors own 84.69% of the company’s stock.

Analyst Upgrades and Downgrades

MODG has been the topic of several research reports. The Goldman Sachs Group dropped their price objective on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, November 14th. B. Riley lowered 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 report on Thursday, October 17th. Truist Financial reduced their price objective on Topgolf Callaway Brands from $14.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Jefferies Financial Group raised Topgolf Callaway Brands from a “hold” rating to a “buy” rating and upped their target price for the stock from $11.00 to $13.00 in a research report on Thursday, January 2nd. Finally, Roth Mkm reissued a “buy” rating and issued a $16.00 price target (down previously from $17.00) on shares of Topgolf Callaway Brands in a research report on Thursday, November 14th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $14.67.

Topgolf Callaway Brands Stock Performance

Shares of MODG opened at $7.60 on Wednesday. The stock has a 50 day moving average of $8.09 and a 200 day moving average of $9.66. 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 $7.16 and a 12 month high of $16.89. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of -94.93 and a beta of 1.70.

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.