Topgolf Callaway Brands (NYSE:MODG) Shares Down 8.2% – Here’s Why

Topgolf Callaway Brands Corp. (NYSE:MODG)’s share price traded down 8.2% during mid-day trading on Wednesday . The company traded as low as $9.58 and last traded at $9.4440. 706,810 shares traded hands during trading, a decline of 75% from the average session volume of 2,784,929 shares. The stock had previously closed at $10.29.

Wall Street Analysts Forecast Growth

MODG has been the topic of several analyst reports. UBS Group started coverage on shares of Topgolf Callaway Brands in a report on Friday, October 17th. They issued a “neutral” rating and a $10.00 price objective on the stock. Wall Street Zen upgraded Topgolf Callaway Brands from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Topgolf Callaway Brands in a report on Monday. B. Riley restated a “neutral” rating and set a $11.00 target price (up from $9.50) on shares of Topgolf Callaway Brands in a research report on Monday, November 10th. Finally, Zacks Research cut Topgolf Callaway Brands from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $10.69.

Topgolf Callaway Brands Trading Down 8.2%

The business’s 50 day simple moving average is $9.59 and its 200 day simple moving average is $8.78. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of -1.16 and a beta of 1.19. The company has a quick ratio of 1.25, a current ratio of 1.85 and a debt-to-equity ratio of 0.48.

Topgolf Callaway Brands (NYSE:MODG) last posted its earnings results on Thursday, November 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.16. Topgolf Callaway Brands had a negative net margin of 36.08% and a positive return on equity of 0.37%. The company had revenue of $465.30 million during the quarter, compared to analysts’ expectations of $903.96 million. During the same quarter last year, the company posted $0.02 EPS. Topgolf Callaway Brands’s quarterly revenue was down 7.8% compared to the same quarter last year. Topgolf Callaway Brands has set its Q4 2025 guidance at EPS. FY 2025 guidance at EPS. On average, research analysts expect that Topgolf Callaway Brands Corp. will post 0.16 EPS for the current fiscal year.

Institutional Trading of Topgolf Callaway Brands

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Topgolf Callaway Brands by 1.9% in the 3rd quarter. Vanguard Group Inc. now owns 14,713,227 shares of the company’s stock valued at $139,776,000 after purchasing an additional 271,394 shares during the period. Marshall Wace LLP grew its stake in shares of Topgolf Callaway Brands by 11.7% in the third quarter. Marshall Wace LLP now owns 5,238,690 shares of the company’s stock valued at $49,768,000 after acquiring an additional 546,904 shares in the last quarter. Hill Path Capital LP acquired a new position in shares of Topgolf Callaway Brands in the second quarter valued at about $37,722,000. Alliancebernstein L.P. increased its position in Topgolf Callaway Brands by 6.4% during the third quarter. Alliancebernstein L.P. now owns 2,993,494 shares of the company’s stock worth $28,438,000 after acquiring an additional 179,202 shares during the period. Finally, Long Focus Capital Management LLC grew its position in shares of Topgolf Callaway Brands by 44.8% during the 1st quarter. Long Focus Capital Management LLC now owns 2,950,844 shares of the company’s stock worth $19,446,000 after purchasing an additional 912,844 shares in the last quarter. 84.69% of the stock is owned by institutional investors and hedge funds.

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.