Bryce Point Capital LLC Has $105,000 Stock Holdings in Topgolf Callaway Brands Corp. $MODG

Bryce Point Capital LLC decreased its stake in Topgolf Callaway Brands Corp. (NYSE:MODG) by 88.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 11,025 shares of the company’s stock after selling 83,683 shares during the quarter. Bryce Point Capital LLC’s holdings in Topgolf Callaway Brands were worth $105,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of MODG. Smartleaf Asset Management LLC lifted its stake in Topgolf Callaway Brands by 42.3% during the third quarter. Smartleaf Asset Management LLC now owns 3,893 shares of the company’s stock valued at $37,000 after buying an additional 1,157 shares in the last quarter. New York State Common Retirement Fund increased its position in shares of Topgolf Callaway Brands by 34.2% in the third quarter. New York State Common Retirement Fund now owns 42,814 shares of the company’s stock worth $407,000 after acquiring an additional 10,900 shares in the last quarter. Compass Wealth Management LLC acquired a new stake in shares of Topgolf Callaway Brands during the third quarter valued at approximately $200,000. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in shares of Topgolf Callaway Brands in the 3rd quarter valued at approximately $769,000. Finally, Bayforest Capital Ltd acquired a new position in Topgolf Callaway Brands in the 3rd quarter worth approximately $604,000. Hedge funds and other institutional investors own 84.69% of the company’s stock.

Topgolf Callaway Brands Stock Performance

Shares of NYSE MODG opened at $14.59 on Wednesday. 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 one year low of $5.42 and a one year high of $15.02. The business’s 50-day moving average price is $13.13 and its two-hundred day moving average price is $10.91. The company has a market capitalization of $2.68 billion, a P/E ratio of -1.78 and a beta of 0.92.

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

Analyst Ratings Changes

Several brokerages have issued reports on MODG. Morgan Stanley set a $15.00 target price on shares of Topgolf Callaway Brands in a research note on Thursday, January 15th. Compass Point lifted 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 issued a $11.00 price objective on shares of Topgolf Callaway Brands in a research note on Monday, November 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Topgolf Callaway Brands in a research note on Monday, December 29th. Finally, Roth Mkm reissued a “buy” rating and issued a $14.00 price target on shares of Topgolf Callaway Brands in a research report on Wednesday, November 19th. Four investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $12.94.

Topgolf Callaway Brands Company Profile

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.