Traders Buy Large Volume of Topgolf Callaway Brands Call Options (NYSE:MODG)

Topgolf Callaway Brands Corp. (NYSE:MODG) saw unusually large options trading activity on Thursday. Traders purchased 2,228 call options on the stock. This represents an increase of approximately 144% compared to the average volume of 912 call options.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Bank of America decreased their target price on Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. B. Riley cut Topgolf Callaway Brands from a “buy” rating to a “neutral” rating and dropped their price target for the company from $18.00 to $12.00 in a report on Thursday, October 17th. Roth Mkm reaffirmed a “buy” rating and issued a $16.00 price target (down from $17.00) on shares of Topgolf Callaway Brands in a report on Thursday, November 14th. TD Cowen decreased their price objective on shares of Topgolf Callaway Brands from $13.00 to $10.00 and set a “hold” rating on the stock in a report on Tuesday, September 17th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Topgolf Callaway Brands from $13.00 to $11.00 and set a “neutral” rating for the company in a research note on Wednesday, November 13th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Topgolf Callaway Brands currently has an average rating of “Hold” and a consensus price target of $15.00.

Topgolf Callaway Brands Trading Up 4.2 %

NYSE:MODG opened at $9.38 on Friday. The company has a market cap of $1.72 billion, a P/E ratio of -117.24, a price-to-earnings-growth ratio of 5.62 and a beta of 1.70. Topgolf Callaway Brands has a twelve month low of $7.22 and a twelve month high of $16.89. The business has a 50 day moving average price of $8.56 and a two-hundred day moving average price of $11.05. The company has a quick ratio of 1.14, a current ratio of 1.93 and a debt-to-equity ratio of 0.37.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. nVerses Capital LLC acquired a new position in shares of Topgolf Callaway Brands during the 3rd quarter worth about $133,000. Koss Olinger Consulting LLC bought a new position in Topgolf Callaway Brands in the second quarter valued at approximately $160,000. Simon Quick Advisors LLC acquired a new position in shares of Topgolf Callaway Brands during the 2nd quarter worth approximately $161,000. Quest Partners LLC bought a new stake in shares of Topgolf Callaway Brands during the 3rd quarter worth approximately $161,000. Finally, International Assets Investment Management LLC boosted its holdings in shares of Topgolf Callaway Brands by 998.0% in the 3rd quarter. International Assets Investment Management LLC now owns 15,032 shares of the company’s stock valued at $165,000 after buying an additional 13,663 shares during the last quarter. Institutional investors and hedge funds 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.