Topgolf Callaway Brands Corp. (NYSE:MODG) Receives Consensus Recommendation of "Hold" from Analysts

Topgolf Callaway Brands Corp. (NYSE:MODG - Get Free Report) has been assigned a consensus recommendation of "Hold" from the twelve analysts that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $10.18.

MODG has been the topic of a number of recent analyst reports. Cfra reaffirmed a "hold" rating and set a $9.00 target price on shares of Topgolf Callaway Brands in a research note on Friday. B. Riley started coverage on shares of Topgolf Callaway Brands in a report on Friday, May 16th. They issued a "neutral" rating and a $7.00 price objective on the stock. JPMorgan Chase & Co. cut their target price on Topgolf Callaway Brands from $8.00 to $7.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 27th. Truist Financial lowered their price target on Topgolf Callaway Brands from $12.00 to $7.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, Wall Street Zen cut Topgolf Callaway Brands from a "hold" rating to a "sell" rating in a research note on Sunday, July 6th.

Insider Activity

In related news, Director Russell L. Fleischer purchased 30,000 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The shares were purchased at an average cost of $6.41 per share, for a total transaction of $192,300.00. Following the purchase, the director directly owned 116,187 shares of the company's stock, valued at $744,758.67. The trade was a 34.81% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Adebayo O. Ogunlesi purchased 38,782 shares of Topgolf Callaway Brands stock in a transaction that occurred on Tuesday, June 10th. The stock was bought at an average cost of $7.59 per share, with a total value of $294,355.38. Following the completion of the transaction, the director owned 845,284 shares of the company's stock, valued at $6,415,705.56. The trade was a 4.81% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 905,284 shares of company stock valued at $5,922,500 over the last quarter. Company insiders own 2.40% of the company's stock.

Hedge Funds Weigh In On Topgolf Callaway Brands

Several hedge funds have recently made changes to their positions in MODG. Charles Schwab Investment Management Inc. grew its position in Topgolf Callaway Brands by 14.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,286,719 shares of the company's stock worth $17,974,000 after purchasing an additional 291,052 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Topgolf Callaway Brands by 31.1% during the 4th quarter. Victory Capital Management Inc. now owns 158,327 shares of the company's stock worth $1,244,000 after purchasing an additional 37,600 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Topgolf Callaway Brands in the fourth quarter valued at about $380,000. PNC Financial Services Group Inc. boosted its holdings in Topgolf Callaway Brands by 170.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 13,757 shares of the company's stock worth $108,000 after buying an additional 8,672 shares in the last quarter. Finally, Wealthfront Advisers LLC grew its position in Topgolf Callaway Brands by 589.5% during the fourth quarter. Wealthfront Advisers LLC now owns 85,807 shares of the company's stock worth $674,000 after buying an additional 73,362 shares during the period. Hedge funds and other institutional investors own 84.69% of the company's stock.

Topgolf Callaway Brands Trading Down 2.4%

Shares of Topgolf Callaway Brands stock traded down $0.22 during mid-day trading on Thursday, hitting $8.88. The stock had a trading volume of 3,534,374 shares, compared to its average volume of 2,871,108. The firm has a 50-day moving average of $7.49 and a two-hundred day moving average of $7.25. The firm has a market cap of $1.63 billion, a P/E ratio of -1.12 and a beta of 1.27. The company has a quick ratio of 1.41, a current ratio of 2.12 and a debt-to-equity ratio of 0.60. Topgolf Callaway Brands has a 12-month low of $5.42 and a 12-month high of $16.89.

Topgolf Callaway Brands (NYSE:MODG - Get Free Report) last posted its earnings results on Monday, May 12th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.15. Topgolf Callaway Brands had a positive return on equity of 1.51% and a negative net margin of 34.68%. The company had revenue of $1.09 billion during the quarter, compared to analysts' expectations of $1.08 billion. During the same quarter last year, the firm earned $0.08 earnings per share. The firm's quarterly revenue was down 4.5% compared to the same quarter last year. Sell-side analysts forecast that Topgolf Callaway Brands will post 0.16 earnings per share for the current 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.