Topgolf Callaway Brands (NYSE:MODG) Stock Price Down 9.6%

Topgolf Callaway Brands Corp. (NYSE:MODG) shares dropped 9.6% during mid-day trading on Thursday . The stock traded as low as $14.74 and last traded at $14.78. Approximately 363,784 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 2,417,630 shares. The stock had previously closed at $16.35.

Analysts Set New Price Targets

MODG has been the subject of a number of research reports. KeyCorp dropped their target price on Topgolf Callaway Brands from $20.00 to $18.00 and set an “overweight” rating for the company in a report on Wednesday, February 14th. B. Riley boosted their price objective on shares of Topgolf Callaway Brands from $18.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Tigress Financial reaffirmed a “buy” rating and set a $38.00 target price on shares of Topgolf Callaway Brands in a report on Friday, April 12th. Finally, Truist Financial lifted their price target on shares of Topgolf Callaway Brands from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, April 29th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $19.91.

Topgolf Callaway Brands Trading Down 6.9 %

The firm has a 50-day moving average of $15.47 and a two-hundred day moving average of $14.07. The firm has a market capitalization of $2.80 billion, a P/E ratio of 32.20, a P/E/G ratio of 1.67 and a beta of 1.84. The company has a current ratio of 1.72, a quick ratio of 0.88 and a debt-to-equity ratio of 0.39.

Topgolf Callaway Brands (NYSE:MODG) last posted its earnings results on Wednesday, May 8th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.08. The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Topgolf Callaway Brands had a net margin of 2.22% and a return on equity of 2.39%. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.17 earnings per share. On average, analysts anticipate that Topgolf Callaway Brands Corp. will post 0.29 EPS for the current year.

Insider Buying and Selling at Topgolf Callaway Brands

In other Topgolf Callaway Brands news, Director Erik J. Anderson sold 2,028 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $14.79, for a total transaction of $29,994.12. Following the sale, the director now owns 2,242 shares of the company’s stock, valued at $33,159.18. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Erik J. Anderson sold 2,028 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $14.79, for a total transaction of $29,994.12. Following the sale, the director now directly owns 2,242 shares in the company, valued at $33,159.18. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Erik J. Anderson sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $14.55, for a total value of $72,750.00. Following the completion of the transaction, the director now directly owns 777,959 shares of the company’s stock, valued at approximately $11,319,303.45. 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

Institutional investors have recently modified their holdings of the business. Shapiro Capital Management LLC lifted its holdings in Topgolf Callaway Brands by 651.6% during the 3rd quarter. Shapiro Capital Management LLC now owns 9,659,158 shares of the company’s stock worth $133,683,000 after buying an additional 8,373,946 shares during the period. Vanguard Group Inc. increased its position in Topgolf Callaway Brands by 13.6% during the 4th quarter. Vanguard Group Inc. now owns 15,403,379 shares of the company’s stock valued at $220,884,000 after purchasing an additional 1,845,864 shares during the period. Norges Bank acquired a new stake in Topgolf Callaway Brands during the 4th quarter valued at approximately $10,467,000. Assenagon Asset Management S.A. acquired a new position in shares of Topgolf Callaway Brands in the 4th quarter worth approximately $9,412,000. Finally, First Dallas Securities Inc. lifted its position in shares of Topgolf Callaway Brands by 1,004.7% in the 3rd quarter. First Dallas Securities Inc. now owns 611,466 shares of the company’s stock worth $8,463,000 after purchasing an additional 556,116 shares during the period. Institutional investors own 84.69% of the company’s stock.

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.