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

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

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. B. Riley raised their target price on Topgolf Callaway Brands from $18.00 to $21.00 and gave the company a "buy" rating in a research report on Thursday, May 2nd. KeyCorp reduced their target price on Topgolf Callaway Brands from $20.00 to $18.00 and set an "overweight" rating for the company in a research note on Wednesday, February 14th. Tigress Financial reissued a "buy" rating and issued a $38.00 price target on shares of Topgolf Callaway Brands in a report on Friday, April 12th. Finally, Truist Financial boosted their price objective on Topgolf Callaway Brands from $18.00 to $20.00 and gave the stock a "buy" rating in a research note on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $19.91.

Topgolf Callaway Brands Trading Down 6.7 %

The stock has a market cap of $2.80 billion, a price-to-earnings ratio of 32.20, a price-to-earnings-growth ratio of 1.67 and a beta of 1.84. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.88 and a current ratio of 1.72. The company has a 50 day moving average of $15.47 and a 200-day moving average of $14.07.

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

Insiders Place Their Bets

In other news, Director Erik J. Anderson sold 5,000 shares of the company's stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $14.55, for a total transaction of $72,750.00. Following the completion of the sale, the director now owns 777,959 shares in the company, valued at $11,319,303.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Erik J. Anderson sold 2,028 shares of the firm's stock in a transaction on Friday, February 16th. The stock was sold at an average price of $14.79, for a total value of $29,994.12. Following the completion of the transaction, the director now owns 2,242 shares in the company, valued at $33,159.18. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Erik J. Anderson sold 5,000 shares of the company's stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $14.55, for a total transaction of $72,750.00. Following the completion of the sale, the director now directly owns 777,959 shares in the company, valued at approximately $11,319,303.45. The disclosure for this sale can be found here. 2.49% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Blair William & Co. IL lifted its position in shares of Topgolf Callaway Brands by 2.0% in the first quarter. Blair William & Co. IL now owns 96,389 shares of the company's stock valued at $1,559,000 after acquiring an additional 1,899 shares in the last quarter. SageView Advisory Group LLC purchased a new position in Topgolf Callaway Brands in the 1st quarter valued at about $314,000. Everence Capital Management Inc. acquired a new stake in shares of Topgolf Callaway Brands during the 1st quarter worth about $277,000. Motley Fool Asset Management LLC raised its position in shares of Topgolf Callaway Brands by 406.1% in the first quarter. Motley Fool Asset Management LLC now owns 451,448 shares of the company's stock valued at $7,300,000 after buying an additional 362,242 shares during the last quarter. Finally, ProShare Advisors LLC lifted its stake in shares of Topgolf Callaway Brands by 7.4% during the first quarter. ProShare Advisors LLC now owns 28,982 shares of the company's stock valued at $469,000 after buying an additional 1,997 shares during the period. 84.69% of the stock is currently 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.