Requisite Capital Management LLC Buys Shares of 308,649 Topgolf Callaway Brands Corp. (NYSE:MODG)

Requisite Capital Management LLC bought a new stake in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 308,649 shares of the company’s stock, valued at approximately $2,426,000. Topgolf Callaway Brands makes up approximately 0.5% of Requisite Capital Management LLC’s holdings, making the stock its 20th largest holding. Requisite Capital Management LLC owned approximately 0.17% of Topgolf Callaway Brands as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. increased its holdings in shares of Topgolf Callaway Brands by 18.8% during the second quarter. Envestnet Asset Management Inc. now owns 236,597 shares of the company’s stock valued at $3,620,000 after acquiring an additional 37,376 shares in the last quarter. Hsbc Holdings PLC raised its holdings in shares of Topgolf Callaway Brands by 16.3% in the second quarter. Hsbc Holdings PLC now owns 37,151 shares of the company’s stock worth $567,000 after buying an additional 5,209 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of Topgolf Callaway Brands during the second quarter worth $218,000. Sei Investments Co. grew its holdings in shares of Topgolf Callaway Brands by 61.8% during the second quarter. Sei Investments Co. now owns 391,343 shares of the company’s stock valued at $5,987,000 after buying an additional 149,545 shares during the last quarter. Finally, Marshall Wace LLP increased its position in shares of Topgolf Callaway Brands by 27.1% in the 2nd quarter. Marshall Wace LLP now owns 644,734 shares of the company’s stock valued at $9,864,000 after acquiring an additional 137,365 shares during the period. 84.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on MODG shares. JPMorgan Chase & Co. lowered their price target on 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 downgraded Topgolf Callaway Brands from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $18.00 to $12.00 in a report on Thursday, October 17th. Truist Financial cut 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 report on Tuesday, January 7th. Roth Mkm reissued a “buy” rating and set a $16.00 price target (down from $17.00) on shares of Topgolf Callaway Brands in a research report on Thursday, November 14th. Finally, Jefferies Financial Group raised shares of Topgolf Callaway Brands from a “hold” rating to a “buy” rating and upped their price objective for the company from $11.00 to $13.00 in a report on Thursday, January 2nd. 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. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $14.67.

Topgolf Callaway Brands Trading Down 0.8 %

Shares of NYSE MODG opened at $8.02 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 1.14. The business’s 50 day moving average is $8.21 and its two-hundred day moving average is $10.32. Topgolf Callaway Brands Corp. has a 52-week low of $7.22 and a 52-week high of $16.89.

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.