Topgolf Callaway Brands (NYSE:MODG) Hits New 52-Week Low – Time to Sell?

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

Analysts Set New Price Targets

A number of research firms have recently weighed in on MODG. JPMorgan Chase & Co. dropped their price objective on Topgolf Callaway Brands from $11.00 to $9.00 and set a “neutral” rating for the company in a research note on Thursday, January 23rd. Jefferies Financial Group raised Topgolf Callaway Brands from a “hold” rating to a “buy” rating and increased their price objective for the company from $11.00 to $13.00 in a research note on Thursday, January 2nd. Roth Mkm reissued a “buy” rating and set a $16.00 price objective (down previously from $17.00) on shares of Topgolf Callaway Brands in a research note on Thursday, November 14th. The Goldman Sachs Group dropped 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, November 14th. Finally, Truist Financial dropped their price objective on Topgolf Callaway Brands from $14.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $14.36.

Topgolf Callaway Brands Stock Performance

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 company has a market cap of $1.29 billion, a P/E ratio of -87.68 and a beta of 1.70. The business has a fifty day moving average of $7.96 and a 200 day moving average of $9.25.

Hedge Funds Weigh In On Topgolf Callaway Brands

A number of institutional investors have recently added to or reduced their stakes in MODG. Asset Planning Inc bought a new position in Topgolf Callaway Brands in the fourth quarter worth $33,000. Sterling Capital Management LLC raised its holdings in Topgolf Callaway Brands by 821.5% in the fourth quarter. Sterling Capital Management LLC now owns 4,543 shares of the company’s stock worth $36,000 after purchasing an additional 4,050 shares in the last quarter. KBC Group NV raised its holdings in Topgolf Callaway Brands by 81.8% in the fourth quarter. KBC Group NV now owns 8,330 shares of the company’s stock worth $65,000 after purchasing an additional 3,749 shares in the last quarter. Covestor Ltd raised its holdings in Topgolf Callaway Brands by 147.2% in the fourth quarter. Covestor Ltd now owns 9,286 shares of the company’s stock worth $73,000 after purchasing an additional 5,530 shares in the last quarter. Finally, FORA Capital LLC bought a new position in Topgolf Callaway Brands in the fourth quarter worth $81,000. 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.