Topgolf Callaway Brands (NYSE:MODG) Trading Up 7.7% – Here’s What Happened

Topgolf Callaway Brands Corp. (NYSE:MODG)’s share price shot up 7.7% during mid-day trading on Wednesday . The company traded as high as $12.51 and last traded at $12.5850. 1,471,729 shares traded hands during mid-day trading, a decline of 48% from the average session volume of 2,813,463 shares. The stock had previously closed at $11.69.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on MODG shares. Truist Financial upped their price target on shares of Topgolf Callaway Brands from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Roth Capital restated a “buy” rating and set a $14.00 target price on shares of Topgolf Callaway Brands in a research report on Wednesday, November 19th. Wall Street Zen upgraded shares of Topgolf Callaway Brands from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. B. Riley reissued a “neutral” rating and set a $11.00 price target (up previously from $9.50) on shares of Topgolf Callaway Brands in a research report on Monday, November 10th. Finally, Zacks Research lowered Topgolf Callaway Brands from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. Four investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Topgolf Callaway Brands has a consensus rating of “Hold” and a consensus target price of $11.17.

Topgolf Callaway Brands Price Performance

The business has a fifty day moving average price of $9.68 and a 200 day moving average price of $8.90. The company has a market cap of $2.30 billion, a price-to-earnings ratio of -1.54 and a beta of 1.19. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.25 and a current ratio of 1.85.

Topgolf Callaway Brands (NYSE:MODG) last issued its earnings results on Thursday, November 6th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.16. The firm had revenue of $465.30 million during the quarter, compared to the consensus estimate of $903.96 million. Topgolf Callaway Brands had a positive return on equity of 0.37% and a negative net margin of 36.08%.The business’s quarterly revenue was down 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.02 earnings per share. Topgolf Callaway Brands has set its Q4 2025 guidance at EPS. FY 2025 guidance at EPS. As a group, research analysts anticipate that Topgolf Callaway Brands Corp. will post 0.16 earnings per share for the current year.

Institutional Trading of Topgolf Callaway Brands

A number of hedge funds have recently made changes to their positions in the company. Signaturefd LLC boosted its position in Topgolf Callaway Brands by 1,669.0% during the 2nd quarter. Signaturefd LLC now owns 3,078 shares of the company’s stock worth $25,000 after buying an additional 2,904 shares during the period. Johnson Financial Group Inc. lifted its stake in Topgolf Callaway Brands by 5,092.9% in the third quarter. Johnson Financial Group Inc. now owns 3,635 shares of the company’s stock valued at $35,000 after buying an additional 3,565 shares during the period. GAMMA Investing LLC bought a new position in Topgolf Callaway Brands during the second quarter worth $36,000. Smartleaf Asset Management LLC grew its holdings in Topgolf Callaway Brands by 42.3% in the third quarter. Smartleaf Asset Management LLC now owns 3,893 shares of the company’s stock worth $37,000 after purchasing an additional 1,157 shares during the period. Finally, CWM LLC grew its stake in shares of Topgolf Callaway Brands by 124.0% in the 2nd quarter. CWM LLC now owns 4,679 shares of the company’s stock valued at $38,000 after buying an additional 2,590 shares during the period. 84.69% of the stock is 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.