Topgolf Callaway Brands (NYSE:MODG) Sets New 52-Week Low – Should You Sell?

Topgolf Callaway Brands Corp. (NYSE:MODG)’s share price hit a new 52-week low on Tuesday . The stock traded as low as $8.01 and last traded at $8.03, with a volume of 67763 shares trading hands. The stock had previously closed at $8.16.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MODG. Jefferies Financial Group downgraded shares of Topgolf Callaway Brands from a “buy” rating to a “hold” rating and dropped their target price for the stock from $40.00 to $12.00 in a report on Thursday, August 29th. Bank of America reduced their price objective on Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Roth Mkm reaffirmed 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. Morgan Stanley cut their price target on shares of Topgolf Callaway Brands from $11.00 to $10.00 and set an “underweight” rating on the stock in a report on Thursday, August 8th. Finally, B. Riley downgraded Topgolf Callaway Brands from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $18.00 to $12.00 in a research note on Thursday, October 17th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Topgolf Callaway Brands presently has an average rating of “Hold” and an average price target of $14.92.

Topgolf Callaway Brands Stock Up 0.5 %

The company has a quick ratio of 1.14, a current ratio of 1.93 and a debt-to-equity ratio of 0.37. The stock has a fifty day moving average price of $10.02 and a 200-day moving average price of $12.72.

Institutional Investors Weigh In On Topgolf Callaway Brands

A number of hedge funds have recently made changes to their positions in MODG. Sei Investments Co. raised its stake in shares of Topgolf Callaway Brands by 161.7% in the first quarter. Sei Investments Co. now owns 241,798 shares of the company’s stock worth $3,910,000 after acquiring an additional 149,402 shares during the last quarter. QRG Capital Management Inc. bought a new position in shares of Topgolf Callaway Brands during the 1st quarter valued at about $178,000. ProShare Advisors LLC increased its position in shares of Topgolf Callaway Brands by 7.4% during the first quarter. ProShare Advisors LLC now owns 28,982 shares of the company’s stock worth $469,000 after acquiring an additional 1,997 shares in the last quarter. Blair William & Co. IL increased its holdings in Topgolf Callaway Brands by 2.0% during the 1st quarter. Blair William & Co. IL now owns 96,389 shares of the company’s stock worth $1,559,000 after purchasing an additional 1,899 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Topgolf Callaway Brands by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 15,484,400 shares of the company’s stock worth $250,383,000 after acquiring an additional 81,021 shares during the period. Institutional investors and hedge funds own 84.69% of the company’s stock.

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.