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

Topgolf Callaway Brands Corp. (NYSE:MODG) has been given an average recommendation of “Hold” by the eleven ratings firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $9.75.

Several equities research analysts have issued reports on the company. B. Riley assumed coverage on Topgolf Callaway Brands in a report on Friday, May 16th. They set a “neutral” rating and a $7.00 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. Truist Financial dropped their price objective on Topgolf Callaway Brands from $12.00 to $7.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Morgan Stanley assumed coverage on Topgolf Callaway Brands in a report on Friday, July 18th. They set an “equal weight” rating and a $9.50 price objective on the stock. Finally, Cfra restated a “hold” rating and set a $9.00 price objective on shares of Topgolf Callaway Brands in a report on Friday, July 11th.

Topgolf Callaway Brands Stock Performance

Topgolf Callaway Brands stock opened at $8.59 on Monday. The stock’s 50-day moving average is $8.51 and its 200-day moving average is $7.37. The company has a market cap of $1.58 billion, a price-to-earnings ratio of -1.06 and a beta of 1.26. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.85 and a quick ratio of 1.41. Topgolf Callaway Brands has a 12 month low of $5.42 and a 12 month high of $12.03.

Topgolf Callaway Brands (NYSE:MODG) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.21. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the business posted $0.42 EPS. Equities analysts anticipate that Topgolf Callaway Brands will post 0.16 earnings per share for the current year.

Insider Transactions at Topgolf Callaway Brands

In related news, CEO Oliver G. Brewer III acquired 20,000 shares of Topgolf Callaway Brands stock in a transaction that occurred on Wednesday, May 14th. The stock was acquired at an average price of $6.40 per share, for a total transaction of $128,000.00. Following the transaction, the chief executive officer directly owned 1,009,297 shares of the company’s stock, valued at $6,459,500.80. This trade represents a 2.02% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Glenn F. Hickey acquired 10,000 shares of Topgolf Callaway Brands stock in a transaction that occurred on Monday, May 19th. The shares were bought at an average price of $6.86 per share, with a total value of $68,600.00. Following the transaction, the executive vice president directly owned 10,000 shares in the company, valued at approximately $68,600. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 905,284 shares of company stock worth $5,922,500 in the last quarter. Insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MODG. Public Employees Retirement System of Ohio raised its stake in 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 valued at $51,000 after acquiring an additional 1,240 shares in the last quarter. Boyar Asset Management Inc. raised its stake in Topgolf Callaway Brands by 1.7% during the 1st quarter. Boyar Asset Management Inc. now owns 109,984 shares of the company’s stock valued at $725,000 after acquiring an additional 1,857 shares in the last quarter. Jump Financial LLC raised its stake in Topgolf Callaway Brands by 3.1% during the 1st quarter. Jump Financial LLC now owns 75,685 shares of the company’s stock valued at $499,000 after acquiring an additional 2,265 shares in the last quarter. MetLife Investment Management LLC raised its stake in Topgolf Callaway Brands by 2.9% during the 4th quarter. MetLife Investment Management LLC now owns 82,820 shares of the company’s stock valued at $651,000 after acquiring an additional 2,303 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Topgolf Callaway Brands by 7.2% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 36,326 shares of the company’s stock valued at $292,000 after acquiring an additional 2,453 shares in the last quarter. Institutional investors and hedge funds 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.