Traders Purchase High Volume of Topgolf Callaway Brands Call Options (NYSE:MODG)

Topgolf Callaway Brands Corp. (NYSE:MODG - Get Free Report) was the target of unusually large options trading on Thursday. Stock investors purchased 2,228 call options on the company. This is an increase of approximately 144% compared to the average daily volume of 912 call options.

Topgolf Callaway Brands Trading Up 14.5 %

Shares of NYSE:MODG traded up $1.14 during mid-day trading on Thursday, hitting $9.00. The company had a trading volume of 8,793,230 shares, compared to its average volume of 2,495,509. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 1.14. Topgolf Callaway Brands has a one year low of $7.22 and a one year high of $16.89. The firm has a fifty day moving average price of $8.58 and a 200 day moving average price of $11.10. The company has a market capitalization of $1.65 billion, a PE ratio of -112.49, a price-to-earnings-growth ratio of 5.62 and a beta of 1.70.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. dropped their price target 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. TD Cowen lowered their target price on Topgolf Callaway Brands from $13.00 to $10.00 and set a "hold" rating for the company in a research report on Tuesday, September 17th. Jefferies Financial Group raised 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. Roth Mkm reissued a "buy" rating and issued a $16.00 price target (down previously from $17.00) on shares of Topgolf Callaway Brands in a research note on Thursday, November 14th. Finally, Truist Financial cut their price objective on Topgolf Callaway Brands from $16.00 to $14.00 and set a "buy" rating on the stock in a research note on Wednesday, November 13th. Two research 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. According to data from MarketBeat.com, Topgolf Callaway Brands presently has a consensus rating of "Hold" and an average target price of $15.00.

Institutional Investors Weigh In On Topgolf Callaway Brands

Several hedge funds and other institutional investors have recently bought and sold shares of MODG. Leonard Green & Partners L.P. bought a new position in shares of Topgolf Callaway Brands in the 2nd quarter worth $97,173,000. Charles Schwab Investment Management Inc. raised its holdings in Topgolf Callaway Brands by 8.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,995,667 shares of the company's stock worth $21,912,000 after buying an additional 148,451 shares during the last quarter. PDT Partners LLC bought a new position in shares of Topgolf Callaway Brands in the third quarter valued at $1,934,000. Harbor Capital Advisors Inc. grew its holdings in shares of Topgolf Callaway Brands by 115.5% during the third quarter. Harbor Capital Advisors Inc. now owns 1,644,741 shares of the company's stock valued at $18,059,000 after buying an additional 881,535 shares during the last quarter. Finally, Empowered Funds LLC bought a new stake in shares of Topgolf Callaway Brands during the third quarter worth about $3,396,000. 84.69% of the stock is owned by institutional investors.

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.