Topgolf Callaway Brands (NYSE:MODG) Sets New 52-Week High – Here’s What Happened

Topgolf Callaway Brands Corp. (NYSE:MODG) reached a new 52-week high during mid-day trading on Saturday . The company traded as high as $10.67 and last traded at $10.5890, with a volume of 6576960 shares traded. The stock had previously closed at $9.27.

Analysts Set New Price Targets

Several analysts have commented on MODG shares. Morgan Stanley initiated coverage on shares of Topgolf Callaway Brands in a research report on Friday, July 18th. They issued an “equal weight” rating and a $9.50 price objective on the stock. Weiss Ratings restated a “sell (d)” rating on shares of Topgolf Callaway Brands in a research note on Wednesday, October 8th. UBS Group assumed coverage on Topgolf Callaway Brands in a research note on Friday, October 17th. They issued a “neutral” rating and a $10.00 price objective on the stock. Cfra reissued a “hold” rating and set a $9.00 price objective on shares of Topgolf Callaway Brands in a report on Friday, July 11th. Finally, Truist Financial raised their target price on Topgolf Callaway Brands from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Topgolf Callaway Brands currently has an average rating of “Hold” and an average target price of $10.33.

Topgolf Callaway Brands Stock Up 14.2%

The stock’s 50 day moving average is $9.40 and its 200 day moving average is $8.56. The company has a market capitalization of $1.95 billion, a PE ratio of -1.30 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 released its quarterly earnings data on Thursday, November 6th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.16. The business had revenue of $465.30 million during the quarter, compared to analyst estimates of $903.96 million. Topgolf Callaway Brands had a negative net margin of 36.08% and a positive return on equity of 0.37%. Topgolf Callaway Brands’s revenue was down 7.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.02 EPS. Topgolf Callaway Brands has set its Q4 2025 guidance at EPS. FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Topgolf Callaway Brands Corp. will post 0.16 EPS for the current fiscal year.

Insider Activity

In related news, CEO Artie Starrs sold 106,734 shares of the business’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $8.64, for a total transaction of $922,181.76. Following the sale, the chief executive officer directly owned 105,823 shares in the company, valued at approximately $914,310.72. The trade was a 50.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in MODG. Signaturefd LLC increased its position in shares of Topgolf Callaway Brands by 1,669.0% during the second quarter. Signaturefd LLC now owns 3,078 shares of the company’s stock valued at $25,000 after buying an additional 2,904 shares during the period. Smartleaf Asset Management LLC boosted its position in shares of Topgolf Callaway Brands by 42.3% in the third quarter. Smartleaf Asset Management LLC now owns 3,893 shares of the company’s stock valued at $37,000 after acquiring an additional 1,157 shares during the period. GAMMA Investing LLC purchased a new position in Topgolf Callaway Brands during the second quarter valued at approximately $36,000. CWM LLC grew its stake in Topgolf Callaway Brands by 124.0% during the second quarter. CWM LLC now owns 4,679 shares of the company’s stock valued at $38,000 after acquiring an additional 2,590 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its holdings in Topgolf Callaway Brands by 24.6% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 6,275 shares of the company’s stock worth $51,000 after acquiring an additional 1,240 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.