Ready to Jump After Recent Trade: Topgolf Callaway Brands Corp. (MODG)

Topgolf Callaway Brands Corp. (NYSE: MODG) stock fell -0.69% on Thursday to $17.15 against a previous-day closing price of $17.27. With 3.48 million shares changed hands, the volume of the stock remained heavier than its average volume of 2.13 million shares. During the session, the Leisure company that operates in wider Consumer Cyclical sector, reached to the highest price of $17.29 whereas the lowest price it dropped to was $16.86. The 52-week range on MODG shows that it touched its highest point at $25.96 and its lowest point at $16.13 during that stretch. It currently has a 1-year price target of $32.62. Beta for the stock currently stands at 1.77.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of MODG was down-trending over the past week, with a drop of -1.78%, but this was down by -22.43% over a month. Three-month performance dropped to -26.74% while six-month performance fell -15.97%. The stock lost -9.40% in the past year, while it has lost -13.16% so far this year. A look at the trailing 12-month EPS for MODG yields 0.47 with Next year EPS estimates of 0.89. For the next quarter, that number is 0.33. This implies an EPS growth rate of -55.20% for this year and 35.52% for next year. EPS is expected to grow by 11.60% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 10.30%.

Float and Shares Shorts:

At present, 185.20 million MODG shares are outstanding with a float of 152.66 million shares on hand for trading. On May 14, 2023, short shares totaled 10.84 million, which was 5.84% higher than short shares on Apr 13, 2023. In addition to Mr. Oliver G. Brewer III as the firm’s Pres, CEO & Director, Mr. Brian P. Lynch serves as its Exec. VP, Chief Legal Officer & CFO.

Institutional Ownership:

Through their ownership of 81.29% of MODG’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 39.62% of MODG, in contrast to 35.64% held by mutual funds. Shares owned by individuals account for 34.96%. As the largest shareholder in MODG with 7.92% of the stake, BlackRock Fund Advisors holds 14,683,921 shares worth 14,683,921. A second-largest stockholder of MODG, The Vanguard Group, Inc., holds 13,120,780 shares, controlling over 7.08% of the firm’s shares. Dimensional Fund Advisors LP is the third largest shareholder in MODG, holding 6,406,225 shares or 3.46% stake. With a 2.34% stake in MODG, the iShares Core S&P Mid Cap ETF is the largest stakeholder. A total of 4,326,166 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.33% of MODG stock, is the second-largest Mutual Fund holder. It holds 4,317,238 shares valued at 95.71 million. Vanguard Small Cap Index Fund holds 1.96% of the stake in MODG, owning 3,627,270 shares worth 80.42 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, MODG reported revenue of $1.12B and operating income of $129.00M. The EBITDA in the recently reported quarter was $189.60M and diluted EPS was $0.53.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for MODG since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With MODG analysts setting a high price target of $56.00 and a low target of $18.00, the average target price over the next 12 months is $31.58. Based on these targets, MODG could surge 226.53% to reach the target high and rise by 4.96% to reach the target low. Reaching the average price target will result in a growth of 84.14% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

Summary of Insider Activity:

Insiders traded MODG stock several times over the past three months with 15 Buys and 16 Sells. In these transactions, 569,769 shares were bought while 3,568,746 shares were sold. The number of buy transactions has increased to 69 while that of sell transactions has risen to 49 over the past year. The total number of shares bought during that period was 1,186,554 while 3,949,113 shares were sold.

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