Topgolf Callaway Brands (NYSE:MODG) Hits New 1-Year Low - Should You Sell?

Topgolf Callaway Brands Corp. (NYSE:MODG - Get Free Report)'s stock price hit a new 52-week low on Tuesday . The company 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.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. KeyCorp cut shares of Topgolf Callaway Brands from an "overweight" rating to a "sector weight" rating in a report on Thursday, August 8th. Roth Mkm reaffirmed 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. JPMorgan Chase & Co. dropped their price target on Topgolf Callaway Brands from $13.00 to $11.00 and set a "neutral" rating on the stock in a research report on Wednesday, November 13th. Truist Financial decreased their price objective on Topgolf Callaway Brands from $16.00 to $14.00 and set a "buy" rating for the company in a research report on Wednesday, November 13th. Finally, B. Riley lowered shares of Topgolf Callaway Brands from a "buy" rating to a "neutral" rating and cut their price target for the company 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 assigned a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $14.92.

Topgolf Callaway Brands Trading Up 4.2 %

The business has a 50-day moving average of $10.01 and a 200-day moving average of $12.66. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 1.14. The firm has a market cap of $1.56 billion, a price-to-earnings ratio of -106.31, a P/E/G ratio of 5.89 and a beta of 1.75.

Institutional Investors Weigh In On Topgolf Callaway Brands

Several large investors have recently made changes to their positions in MODG. Sei Investments Co. lifted its stake in Topgolf Callaway Brands by 161.7% in the 1st quarter. Sei Investments Co. now owns 241,798 shares of the company's stock valued at $3,910,000 after purchasing an additional 149,402 shares during the last quarter. QRG Capital Management Inc. acquired a new stake in shares of Topgolf Callaway Brands in the first quarter valued at approximately $178,000. ProShare Advisors LLC boosted its stake in shares of Topgolf Callaway Brands by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 28,982 shares of the company's stock worth $469,000 after acquiring an additional 1,997 shares during the period. Blair William & Co. IL increased its holdings in shares of 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 acquiring an additional 1,899 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Topgolf Callaway Brands by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 15,484,400 shares of the company's stock valued at $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.

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.