Topgolf Callaway Brands (NYSE:MODG) Shares Gap Up – Time to Buy?

Topgolf Callaway Brands Corp. (NYSE:MODG) gapped up prior to trading on Thursday . The stock had previously closed at $7.86, but opened at $8.64. Topgolf Callaway Brands shares last traded at $8.95, with a volume of 2,232,275 shares changing hands.

Wall Street Analyst Weigh In

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

Topgolf Callaway Brands Stock Up 4.2 %

The company has a quick ratio of 1.14, a current ratio of 1.93 and a debt-to-equity ratio of 0.37. The stock’s 50-day simple moving average is $8.56 and its 200 day simple moving average is $11.05. The firm has a market cap of $1.72 billion, a P/E ratio of -117.24, a PEG ratio of 5.62 and a beta of 1.70.

Hedge Funds Weigh In On Topgolf Callaway Brands

Several institutional investors have recently added to or reduced their stakes in MODG. Koss Olinger Consulting LLC acquired a new stake in shares of Topgolf Callaway Brands in the 2nd quarter valued at about $160,000. Simon Quick Advisors LLC bought a new stake in shares of Topgolf Callaway Brands during the second quarter valued at approximately $161,000. nVerses Capital LLC acquired a new position in shares of Topgolf Callaway Brands during the third quarter worth approximately $133,000. XTX Topco Ltd bought a new position in shares of Topgolf Callaway Brands in the 2nd quarter worth $218,000. Finally, Quest Partners LLC bought a new stake in Topgolf Callaway Brands during the 3rd quarter valued at $161,000. 84.69% of the stock is owned by institutional investors and hedge funds.

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.