Aigen Investment Management LP Buys 14,826 Shares of Topgolf Callaway Brands Corp. (NYSE:MODG)

Aigen Investment Management LP grew its stake in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) by 104.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,083 shares of the company’s stock after purchasing an additional 14,826 shares during the period. Aigen Investment Management LP’s holdings in Topgolf Callaway Brands were worth $319,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of MODG. Louisiana State Employees Retirement System boosted its position in Topgolf Callaway Brands by 1.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 71,100 shares of the company’s stock valued at $1,088,000 after acquiring an additional 700 shares in the last quarter. Creative Planning grew its stake in Topgolf Callaway Brands by 6.8% in the second quarter. Creative Planning now owns 22,201 shares of the company’s stock worth $340,000 after purchasing an additional 1,415 shares during the period. SG Americas Securities LLC raised its holdings in Topgolf Callaway Brands by 5.2% in the second quarter. SG Americas Securities LLC now owns 36,961 shares of the company’s stock worth $566,000 after purchasing an additional 1,819 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Topgolf Callaway Brands by 2.5% during the second quarter. The Manufacturers Life Insurance Company now owns 78,434 shares of the company’s stock valued at $1,200,000 after buying an additional 1,888 shares during the period. Finally, Blair William & Co. IL boosted its holdings in shares of Topgolf Callaway Brands by 2.0% during the 1st quarter. Blair William & Co. IL now owns 96,389 shares of the company’s stock valued at $1,559,000 after buying an additional 1,899 shares in the last quarter. Hedge funds and other institutional investors own 84.69% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. TD Cowen decreased their price target on shares of Topgolf Callaway Brands from $13.00 to $10.00 and set a “hold” rating for the company in a research note on Tuesday, September 17th. Roth Mkm reissued a “buy” rating and issued a $16.00 price target (down from $17.00) on shares of Topgolf Callaway Brands in a research report on Thursday. KeyCorp lowered Topgolf Callaway Brands from an “overweight” rating to a “sector weight” rating in a research report on Thursday, August 8th. Jefferies Financial Group downgraded Topgolf Callaway Brands from a “buy” rating to a “hold” rating and dropped their target price for the stock from $40.00 to $12.00 in a report on Thursday, August 29th. Finally, JPMorgan Chase & Co. lowered their price target on Topgolf Callaway Brands from $13.00 to $11.00 and set a “neutral” rating for the company in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $14.92.

Topgolf Callaway Brands Stock Performance

Shares of MODG stock opened at $8.54 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.93 and a debt-to-equity ratio of 0.37. The company has a 50 day moving average price of $10.07 and a 200-day moving average price of $12.82. Topgolf Callaway Brands Corp. has a 52 week low of $8.23 and a 52 week high of $16.89. The firm has a market capitalization of $1.57 billion, a PE ratio of -106.75, a P/E/G ratio of 8.62 and a beta of 1.75.

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.