Topgolf Callaway Brands Corp. (NYSE:MODG) Given Average Rating of “Hold” by Brokerages

Topgolf Callaway Brands Corp. (NYSE:MODG) has earned a consensus recommendation of “Hold” from the eight research firms that are covering the company, MarketBeat reports. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $9.75.

Several equities research analysts have recently commented on the company. B. Riley reissued a “neutral” rating and set a $9.50 price target (up previously from $7.00) on shares of Topgolf Callaway Brands in a research note on Monday, August 11th. Cfra reissued a “hold” rating and set a $9.00 price target on shares of Topgolf Callaway Brands in a research note on Friday, July 11th. Wall Street Zen raised Topgolf Callaway Brands from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Finally, Morgan Stanley began coverage on Topgolf Callaway Brands in a research note on Friday, July 18th. They issued an “equal weight” rating and a $9.50 target price on the stock.

Insider Buying and Selling

In related news, Director Erik J. Anderson sold 25,704 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $9.25, for a total value of $237,762.00. Following the sale, the director owned 20,607 shares of the company’s stock, valued at approximately $190,614.75. This represents a 55.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Artie Starrs sold 106,734 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $8.64, for a total value of $922,181.76. Following the completion of the sale, the chief executive officer directly owned 105,823 shares in the company, valued at approximately $914,310.72. The trade was a 50.21% decrease in their position. The disclosure for this sale can be found here. 2.49% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Topgolf Callaway Brands

Institutional investors and hedge funds have recently bought and sold shares of the stock. Signaturefd LLC lifted its stake in Topgolf Callaway Brands by 1,669.0% in the 2nd quarter. Signaturefd LLC now owns 3,078 shares of the company’s stock valued at $25,000 after buying an additional 2,904 shares in the last quarter. GAMMA Investing LLC purchased a new position in shares of Topgolf Callaway Brands during the 2nd quarter worth $36,000. CWM LLC lifted its stake in shares of Topgolf Callaway Brands by 124.0% during the 2nd quarter. CWM LLC now owns 4,679 shares of the company’s stock worth $38,000 after purchasing an additional 2,590 shares during the period. Public Employees Retirement System of Ohio lifted its stake in shares of Topgolf Callaway Brands by 24.6% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 6,275 shares of the company’s stock worth $51,000 after purchasing an additional 1,240 shares during the period. Finally, FNY Investment Advisers LLC purchased a new position in shares of Topgolf Callaway Brands during the 2nd quarter worth $53,000. Hedge funds and other institutional investors own 84.69% of the company’s stock.

Topgolf Callaway Brands Price Performance

Shares of NYSE:MODG opened at $9.47 on Tuesday. The business’s 50 day simple moving average is $9.38 and its 200-day simple moving average is $7.95. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of -1.16 and a beta of 1.25. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.85 and a quick ratio of 1.25. Topgolf Callaway Brands has a 12 month low of $5.42 and a 12 month high of $11.28.

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