Weiss Ratings Reaffirms Sell (D) Rating for Topgolf Callaway Brands (NYSE:MODG)

Topgolf Callaway Brands (NYSE:MODG)‘s stock had its “sell (d)” rating reissued by analysts at Weiss Ratings in a research note issued on Saturday,Weiss Ratings reports.

A number of other research firms have also commented on MODG. UBS Group began coverage on Topgolf Callaway Brands in a research report on Friday, October 17th. They set a “neutral” rating and a $10.00 price target on the stock. Wall Street Zen raised shares of Topgolf Callaway Brands from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Cfra reaffirmed a “hold” rating and issued a $9.00 price target on shares of Topgolf Callaway Brands in a research note on Friday, July 11th. Morgan Stanley assumed coverage on Topgolf Callaway Brands in a report on Friday, July 18th. They issued an “equal weight” rating and a $9.50 price target on the stock. Finally, Zacks Research raised shares of Topgolf Callaway Brands from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Topgolf Callaway Brands has a consensus rating of “Hold” and a consensus price target of $9.78.

Topgolf Callaway Brands Stock Performance

MODG opened at $10.10 on Friday. The stock has a market cap of $1.86 billion, a PE ratio of -1.24 and a beta of 1.24. The stock’s 50 day simple moving average is $9.44 and its 200-day simple moving average is $8.35. Topgolf Callaway Brands has a 1 year low of $5.42 and a 1 year high of $10.74. The company has a current ratio of 1.85, a quick ratio of 1.25 and a debt-to-equity ratio of 0.48.

Topgolf Callaway Brands (NYSE:MODG) last posted its earnings results on Wednesday, August 6th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.21. Topgolf Callaway Brands had a negative net margin of 36.08% and a positive return on equity of 0.37%. The business had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the previous year, the firm posted $0.42 earnings per share. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. Sell-side analysts forecast that Topgolf Callaway Brands will post 0.16 EPS for the current year.

Insider Buying and Selling at Topgolf Callaway Brands

In other Topgolf Callaway Brands news, Director Erik J. Anderson sold 25,704 shares of the business’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $9.25, for a total transaction of $237,762.00. Following the sale, the director owned 20,607 shares of the company’s stock, valued at approximately $190,614.75. The trade was a 55.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Artie Starrs sold 106,734 shares of the business’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $8.64, for a total value of $922,181.76. Following the sale, the chief executive officer owned 105,823 shares in the company, valued at $914,310.72. This represents a 50.21% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.49% of the company’s stock.

Institutional Trading of Topgolf Callaway Brands

A number of institutional investors have recently bought and sold shares of MODG. Public Employees Retirement System of Ohio raised its position in shares of Topgolf Callaway Brands by 24.6% in the second quarter. Public Employees Retirement System of Ohio now owns 6,275 shares of the company’s stock valued at $51,000 after purchasing an additional 1,240 shares during the period. Jump Financial LLC grew its stake in shares of Topgolf Callaway Brands by 3.1% during the first quarter. Jump Financial LLC now owns 75,685 shares of the company’s stock valued at $499,000 after buying an additional 2,265 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Topgolf Callaway Brands by 7.2% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 36,326 shares of the company’s stock worth $292,000 after purchasing an additional 2,453 shares during the last quarter. Covestor Ltd grew its stake in shares of Topgolf Callaway Brands by 26.9% in the first quarter. Covestor Ltd now owns 11,785 shares of the company’s stock worth $78,000 after purchasing an additional 2,499 shares during the last quarter. Finally, CWM LLC boosted its holdings in Topgolf Callaway Brands by 124.0% in the second quarter. CWM LLC now owns 4,679 shares of the company’s stock valued at $38,000 after acquiring an additional 2,590 shares in the last quarter. Institutional investors own 84.69% of the company’s stock.

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.