Topgolf Callaway Brands (NYSE:MODG) Hits New 12-Month Low - Should You Sell?

Topgolf Callaway Brands Corp. (NYSE:MODG - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Friday . The company traded as low as $7.90 and last traded at $7.94, with a volume of 194778 shares trading hands. The stock had previously closed at $8.01.

Analyst Ratings Changes

Several brokerages recently commented on MODG. Jefferies Financial Group downgraded shares of Topgolf Callaway Brands from a "buy" rating to a "hold" rating and decreased their target price for the stock from $40.00 to $12.00 in a research note on Thursday, August 29th. Roth Mkm reiterated a "buy" rating and issued a $16.00 price objective (down previously from $17.00) on shares of Topgolf Callaway Brands in a report on Thursday, November 14th. JPMorgan Chase & Co. reduced their target price on Topgolf Callaway Brands from $13.00 to $11.00 and set a "neutral" rating on the stock in a research note on Wednesday, November 13th. Raymond James lowered Topgolf Callaway Brands from an "outperform" rating to an "underperform" rating in a research note on Friday, August 23rd. Finally, B. Riley downgraded shares of Topgolf Callaway Brands from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $18.00 to $12.00 in a research report on Thursday, October 17th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $14.92.

Topgolf Callaway Brands Stock Performance

The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.14 and a current ratio of 1.93. The business's 50-day moving average is $9.26 and its 200-day moving average is $11.82. The company has a market capitalization of $1.46 billion, a PE ratio of -99.19, a PEG ratio of 5.62 and a beta of 1.70.

Institutional Trading of Topgolf Callaway Brands

A number of hedge funds have recently made changes to their positions in MODG. Fifth Third Bancorp raised its holdings in Topgolf Callaway Brands by 327.6% in the second quarter. Fifth Third Bancorp now owns 2,527 shares of the company's stock worth $39,000 after buying an additional 1,936 shares during the last quarter. nVerses Capital LLC purchased a new stake in shares of Topgolf Callaway Brands during the third quarter valued at $133,000. Koss Olinger Consulting LLC bought a new stake in Topgolf Callaway Brands in the 2nd quarter worth about $160,000. Simon Quick Advisors LLC bought a new position in Topgolf Callaway Brands during the 2nd quarter valued at about $161,000. Finally, Quest Partners LLC purchased a new stake in shares of Topgolf Callaway Brands during the 3rd quarter valued at about $161,000. 84.69% of the stock is owned by institutional investors.

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.