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

Topgolf Callaway Brands Corp. (NYSE:MODG - Get Free Report) shares hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $5.80 and last traded at $5.69, with a volume of 389291 shares. The stock had previously closed at $5.98.

Analyst Ratings Changes

MODG has been the subject of several recent analyst reports. Truist Financial decreased their target price 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. Roth Mkm reissued a "buy" rating and set a $11.00 price target (down from $16.00) on shares of Topgolf Callaway Brands in a research report on Tuesday, February 25th. JPMorgan Chase & Co. decreased their price target on shares of 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. The Goldman Sachs Group reduced their target price on shares of 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, Jefferies Financial Group upgraded shares of Topgolf Callaway Brands from a "hold" rating to a "buy" rating and raised their price objective for the company from $11.00 to $13.00 in a research report on Thursday, January 2nd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $13.91.

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Topgolf Callaway Brands Stock Performance

The firm has a market capitalization of $1.05 billion, a P/E ratio of -71.10 and a beta of 1.70. The firm has a 50-day moving average price of $7.66 and a two-hundred day moving average price of $8.83. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.93 and a quick ratio of 1.14.

Topgolf Callaway Brands (NYSE:MODG - Get Free Report) last posted its earnings results on Monday, February 24th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.07. Topgolf Callaway Brands had a positive return on equity of 1.20% and a negative net margin of 0.29%. The company had revenue of $924.40 million for the quarter, compared to analyst estimates of $1.13 billion. On average, analysts forecast that Topgolf Callaway Brands Corp. will post 0.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Alliancebernstein L.P. increased its position in Topgolf Callaway Brands by 97.6% during the fourth quarter. Alliancebernstein L.P. now owns 2,152,565 shares of the company's stock worth $16,919,000 after purchasing an additional 1,063,033 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in Topgolf Callaway Brands by 57.8% in the fourth quarter. Ameriprise Financial Inc. now owns 2,086,700 shares of the company's stock valued at $16,401,000 after purchasing an additional 764,322 shares during the period. ExodusPoint Capital Management LP acquired a new position in shares of Topgolf Callaway Brands during the fourth quarter worth about $4,769,000. LGT Capital Partners LTD. purchased a new stake in shares of Topgolf Callaway Brands during the 3rd quarter worth $6,588,000. Finally, Claar Advisors LLC purchased a new stake in Topgolf Callaway Brands during the fourth quarter worth approximately $4,716,000. 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.

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