Topgolf Callaway Brands (NYSE:MODG) Hits New 12-Month Low – Time to Sell?

Topgolf Callaway Brands Corp. (NYSE:MODG)’s stock price hit a new 52-week low during mid-day trading on Friday . The company traded as low as $7.10 and last traded at $7.11, with a volume of 1010400 shares. The stock had previously closed at $7.23.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. cut their price objective on Topgolf Callaway Brands from $11.00 to $9.00 and set a “neutral” rating for the company in a research report on Thursday, January 23rd. The Goldman Sachs Group cut their price objective on Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, November 14th. Truist Financial cut their price objective on Topgolf Callaway Brands from $14.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Jefferies Financial Group raised Topgolf Callaway Brands from a “hold” rating to a “buy” rating and raised their price objective for the stock from $11.00 to $13.00 in a research report on Thursday, January 2nd. Finally, Roth Mkm restated a “buy” rating and set a $16.00 target price (down from $17.00) on shares of Topgolf Callaway Brands in a report on Thursday, November 14th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Topgolf Callaway Brands currently has a consensus rating of “Hold” and an average target price of $14.36.

Topgolf Callaway Brands Stock Down 3.0 %

The firm has a 50 day moving average price of $7.98 and a 200-day moving average price of $9.33. The company has a current ratio of 1.93, a quick ratio of 1.14 and a debt-to-equity ratio of 0.37. The firm has a market cap of $1.29 billion, a PE ratio of -87.68 and a beta of 1.70.

Hedge Funds Weigh In On Topgolf Callaway Brands

Several hedge funds and other institutional investors have recently made changes to their positions in MODG. International Assets Investment Management LLC boosted its stake in shares of 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 buying an additional 13,663 shares during the period. Assenagon Asset Management S.A. purchased a new position in shares of Topgolf Callaway Brands in the 3rd quarter valued at about $482,000. Harbor Capital Advisors Inc. lifted its stake in 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 worth $18,059,000 after purchasing an additional 881,535 shares during the last quarter. Lansing Street Advisors purchased a new stake in Topgolf Callaway Brands during the third quarter worth approximately $187,000. Finally, Advisor Resource Council lifted its stake in Topgolf Callaway Brands by 111.3% during the third quarter. Advisor Resource Council now owns 32,589 shares of the company’s stock worth $358,000 after purchasing an additional 17,164 shares during the last quarter. Hedge funds and other institutional investors own 84.69% of the company’s stock.

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.