Topgolf Callaway Brands (NYSE:MODG) Trading 8.4% Higher - Should You Buy?

Topgolf Callaway Brands Corp. (NYSE:MODG - Get Free Report) traded up 8.4% on Tuesday . The company traded as high as $8.87 and last traded at $8.72. 1,092,147 shares were traded during mid-day trading, a decline of 62% from the average session volume of 2,839,727 shares. The stock had previously closed at $8.05.

Wall Street Analyst Weigh In

Several analysts have issued reports on MODG shares. Wall Street Zen raised shares of Topgolf Callaway Brands from a "sell" rating to a "hold" rating in a research report on Saturday, June 28th. B. Riley began coverage on shares of Topgolf Callaway Brands in a report on Friday, May 16th. They set a "neutral" rating and a $7.00 price target for the company. JPMorgan Chase & Co. dropped their price target on shares of Topgolf Callaway Brands from $8.00 to $7.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 27th. Finally, Truist Financial cut their price objective on shares of Topgolf Callaway Brands from $12.00 to $7.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Topgolf Callaway Brands currently has an average rating of "Hold" and an average target price of $10.30.

Topgolf Callaway Brands Stock Performance

The company's fifty day simple moving average is $7.23 and its two-hundred day simple moving average is $7.20. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of -1.15 and a beta of 1.27. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.41 and a current ratio of 2.12.

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

Insider Transactions at Topgolf Callaway Brands

In other Topgolf Callaway Brands news, EVP Glenn F. Hickey bought 10,000 shares of the company's stock in a transaction on Monday, May 19th. The shares were bought at an average cost of $6.86 per share, with a total value of $68,600.00. Following the completion of the acquisition, the executive vice president owned 10,000 shares of the company's stock, valued at approximately $68,600. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Adebayo O. Ogunlesi purchased 38,782 shares of Topgolf Callaway Brands stock in a transaction dated Tuesday, June 10th. The stock was acquired at an average price of $7.59 per share, for a total transaction of $294,355.38. Following the completion of the transaction, the director owned 845,284 shares in the company, valued at approximately $6,415,705.56. The trade was a 4.81% increase in their position. 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 90 days. Insiders own 2.40% of the company's stock.

Institutional Investors Weigh In On Topgolf Callaway Brands

A number of institutional investors have recently modified their holdings of the business. TrueWealth Advisors LLC boosted its stake in Topgolf Callaway Brands by 13.0% in the second quarter. TrueWealth Advisors LLC now owns 23,050 shares of the company's stock valued at $186,000 after acquiring an additional 2,650 shares during the period. Inspire Investing LLC acquired a new stake in shares of Topgolf Callaway Brands during the 1st quarter worth approximately $346,000. Intech Investment Management LLC lifted its holdings in shares of Topgolf Callaway Brands by 251.5% in the 1st quarter. Intech Investment Management LLC now owns 200,878 shares of the company's stock worth $1,324,000 after purchasing an additional 143,722 shares during the last quarter. Focus Partners Wealth acquired a new position in Topgolf Callaway Brands during the 1st quarter valued at approximately $109,000. Finally, Bayforest Capital Ltd grew its stake in Topgolf Callaway Brands by 99.5% during the 1st quarter. Bayforest Capital Ltd now owns 58,135 shares of the company's stock worth $383,000 after buying an additional 28,998 shares during the last quarter. 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.