Topgolf Callaway Brands Sees Unusually High Options Volume (NYSE:MODG)

Topgolf Callaway Brands Corp. (NYSE:MODG) was the recipient of some unusual options trading on Thursday. Stock traders acquired 2,228 call options on the stock. This is an increase of approximately 144% compared to the average volume of 912 call options.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MODG. Bank of America reduced their price target on shares of 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. Jefferies Financial Group upgraded Topgolf Callaway Brands from a “hold” rating to a “buy” rating and lifted their target price for the stock from $11.00 to $13.00 in a report on Thursday. The Goldman Sachs Group lowered their price target on Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. TD Cowen cut their price objective on 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. lowered their target price on 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 research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Topgolf Callaway Brands presently has an average rating of “Hold” and an average price target of $15.00.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. nVerses Capital LLC acquired a new stake in Topgolf Callaway Brands in the third quarter valued at $133,000. Koss Olinger Consulting LLC acquired a new position in Topgolf Callaway Brands during the second quarter worth approximately $160,000. Simon Quick Advisors LLC bought a new stake in Topgolf Callaway Brands in the second quarter valued at approximately $161,000. Quest Partners LLC bought a new position in shares of Topgolf Callaway Brands during the 3rd quarter worth approximately $161,000. Finally, International Assets Investment Management LLC raised its stake in 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 acquiring an additional 13,663 shares during the period. 84.69% of the stock is owned by institutional investors and hedge funds.

Topgolf Callaway Brands Stock Up 13.2 %

Topgolf Callaway Brands stock traded up $1.04 during mid-day trading on Thursday, reaching $8.90. The company’s stock had a trading volume of 2,793,335 shares, compared to its average volume of 2,495,509. The business’s 50 day simple moving average is $8.58 and its 200 day simple moving average is $11.10. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.14 and a current ratio of 1.93. Topgolf Callaway Brands has a 12 month low of $7.22 and a 12 month high of $16.89. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of -111.24, a price-to-earnings-growth ratio of 5.62 and a beta of 1.70.

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.