Topgolf Callaway Brands Corp. [NYSE: MODG] stock went on an upward path that rose over 5.05% on Thursday, amounting to a one-week price increase of more than 9.60%. The company report on January 6, 2023 that Callaway Golf and Stephen Curry Announce Multi-Year Partnership Extension.
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The Global Sports Icon Will Continue to Partner with Callaway Golf on Philanthropic and Game-Expanding Endeavors.
Stephen Curry, the four-time NBA champion and two-time MVP, and Callaway Golf today announced that they have agreed to a multi-year extension of their partnership. Together, they will continue to work on various initiatives, with a strong focus on expanding the game by making it more accessible to underserved and underrepresented youth.
Over the last 12 months, MODG stock dropped by -20.35%. The one-year Topgolf Callaway Brands Corp. stock forecast points to a potential upside of 33.18. The average equity rating for MODG stock is currently 1.80, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $4.06 billion, with 184.80 million shares outstanding and 152.66 million shares in the current float. Compared to the average trading volume of 1.41M shares, MODG stock reached a trading volume of 3482281 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Topgolf Callaway Brands Corp. [MODG]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MODG shares is $33.33 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MODG stock is a recommendation set at 1.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
B. Riley Securities have made an estimate for Topgolf Callaway Brands Corp. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 10, 2022.
The Average True Range (ATR) for Topgolf Callaway Brands Corp. is set at 0.69, with the Price to Sales ratio for MODG stock in the period of the last 12 months amounting to 1.05. The Price to Book ratio for the last quarter was 1.08, with the Price to Cash per share for the same quarter was set at 1.10.
MODG Stock Performance Analysis:
Topgolf Callaway Brands Corp. [MODG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 9.60. With this latest performance, MODG shares gained by 1.27% in over the last four-week period, additionally plugging by 9.27% over the last 6 months – not to mention a drop of -20.35% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MODG stock in for the last two-week period is set at 68.58, with the RSI for the last a single of trading hit 77.86, and the three-weeks RSI is set at 63.13 for Topgolf Callaway Brands Corp. [MODG]. The present Moving Average for the last 50 days of trading for this stock 20.47, while it was recorded at 21.17 for the last single week of trading, and 21.14 for the last 200 days.
Insight into Topgolf Callaway Brands Corp. Fundamentals:
Topgolf Callaway Brands Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 1.30.
MODG Stock EPS
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MODG. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Topgolf Callaway Brands Corp. go to 12.00%.
Topgolf Callaway Brands Corp. [MODG] Insider Position Details
There are presently around $3,237 million, or 80.80% of MODG stock, in the hands of institutional investors. The top three institutional holders of MODG stocks are: PROVIDENCE EQUITY PARTNERS L.L.C. with ownership of 21,175,226, which is approximately 0% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 15,362,994 shares of the stock with an approximate value of $342.13 million in MODG stocks shares; and VANGUARD GROUP INC, currently with $289.15 million in MODG stock with ownership of nearly 3.025% of the company’s market capitalization.
Positions in Topgolf Callaway Brands Corp. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 171 institutional holders increased their position in Topgolf Callaway Brands Corp. [NYSE:MODG] by around 12,822,368 shares. Additionally, 134 investors decreased positions by around 11,559,376 shares, while 62 investors held positions by with 120,961,160 shares. The mentioned changes placed institutional holdings at 145,342,904 shares, according to the latest SEC report filing. MODG stock had 44 new institutional investments in for a total of 2,056,086 shares, while 53 institutional investors sold positions of 6,077,777 shares during the same period.