Topgolf Callaway Brands Corp. (NYSE:MODG) Receives Consensus Rating of “Hold” from Analysts

Topgolf Callaway Brands Corp. (NYSE:MODG) has received an average rating of “Hold” from the eleven brokerages that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $10.50.

A number of equities analysts have recently weighed in on the stock. B. Riley assumed coverage on shares of Topgolf Callaway Brands in a research report on Friday, May 16th. They set a “neutral” rating and a $7.00 price target on the stock. Truist Financial reduced their price target on shares of Topgolf Callaway Brands from $12.00 to $7.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Roth Mkm restated a “buy” rating and set a $11.00 price objective (down from $16.00) on shares of Topgolf Callaway Brands in a report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Topgolf Callaway Brands from $11.00 to $9.00 and set a “neutral” rating on the stock in a report on Thursday, January 23rd.

Insider Buying and Selling at Topgolf Callaway Brands

In other Topgolf Callaway Brands news, Director Russell L. Fleischer purchased 30,000 shares of the stock in a transaction on Wednesday, May 14th. The shares were purchased at an average cost of $6.41 per share, for a total transaction of $192,300.00. Following the purchase, the director now owns 116,187 shares of the company’s stock, valued at approximately $744,758.67. This represents a 34.81% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Glenn F. Hickey purchased 10,000 shares of the stock in a transaction on Monday, May 19th. The stock was acquired at an average price of $6.86 per share, for a total transaction of $68,600.00. Following the completion of the purchase, the executive vice president now directly owns 10,000 shares in the company, valued at approximately $68,600. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 60,000 shares of company stock worth $388,900. Insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On Topgolf Callaway Brands

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Crossmark Global Holdings Inc. raised its holdings in shares of Topgolf Callaway Brands by 7.8% in the 4th quarter. Crossmark Global Holdings Inc. now owns 37,329 shares of the company’s stock valued at $293,000 after purchasing an additional 2,712 shares during the period. SG Americas Securities LLC acquired a new stake in Topgolf Callaway Brands in the 4th quarter valued at about $433,000. Requisite Capital Management LLC acquired a new stake in Topgolf Callaway Brands in the 4th quarter valued at about $2,426,000. KBC Group NV lifted its stake in Topgolf Callaway Brands by 81.8% in the 4th quarter. KBC Group NV now owns 8,330 shares of the company’s stock valued at $65,000 after purchasing an additional 3,749 shares during the last quarter. Finally, Empowered Funds LLC lifted its stake in Topgolf Callaway Brands by 5.1% in the 4th quarter. Empowered Funds LLC now owns 325,106 shares of the company’s stock valued at $2,555,000 after purchasing an additional 15,857 shares during the last quarter. 84.69% of the stock is currently owned by institutional investors and hedge funds.

Topgolf Callaway Brands Trading Up 3.3%

Shares of NYSE MODG opened at $6.79 on Wednesday. The company’s fifty day moving average is $6.54 and its 200-day moving average is $7.45. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of -84.86 and a beta of 1.25. Topgolf Callaway Brands has a twelve month low of $5.42 and a twelve month high of $16.89. The company has a quick ratio of 1.14, a current ratio of 1.93 and a debt-to-equity ratio of 0.37.

Topgolf Callaway Brands (NYSE:MODG) last announced its quarterly earnings results on Monday, May 12th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.15. The company had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Topgolf Callaway Brands had a negative net margin of 0.29% and a positive return on equity of 1.20%. The business’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same period last year, the firm posted $0.08 earnings per share. Equities research analysts predict that Topgolf Callaway Brands will post 0.16 EPS for the current year.

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.