Topgolf Callaway Brands (NYSE:MODG) Reaches New 52-Week Low – Here’s Why

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

Wall Street Analyst Weigh In

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

Topgolf Callaway Brands Trading Down 3.0 %

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 firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of -87.68 and a beta of 1.70. The company has a 50 day moving average price of $7.98 and a two-hundred day moving average price of $9.33.

Institutional Trading of Topgolf Callaway Brands

Several large investors have recently made changes to their positions in MODG. Asset Planning Inc purchased a new stake in shares of Topgolf Callaway Brands during the fourth quarter worth approximately $33,000. Sterling Capital Management LLC increased its position in shares of Topgolf Callaway Brands by 821.5% during 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 increased its position in shares of Topgolf Callaway Brands by 81.8% during 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 increased its position in shares of Topgolf Callaway Brands by 147.2% during 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 purchased a new stake in shares of Topgolf Callaway Brands during the fourth quarter worth approximately $81,000. 84.69% of the stock is currently owned by hedge funds and other 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.