Topgolf Callaway Brands (NYSE:MODG) Sets New 12-Month Low – Here’s What Happened

Topgolf Callaway Brands Corp. (NYSE:MODG) shares hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $7.16 and last traded at $7.25, with a volume of 122508 shares. The stock had previously closed at $7.30.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. JPMorgan Chase & Co. lowered their price target on shares of 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 price target on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, November 14th. Truist Financial decreased their price target on shares of Topgolf Callaway Brands from $14.00 to $12.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Jefferies Financial Group raised Topgolf Callaway Brands from a “hold” rating to a “buy” rating and increased their target price for the stock from $11.00 to $13.00 in a research report on Thursday, January 2nd. Finally, 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 report on Thursday, November 14th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $14.67.

Topgolf Callaway Brands Trading Up 0.9 %

The company has a current ratio of 1.93, a quick ratio of 1.14 and a debt-to-equity ratio of 0.37. The company has a market cap of $1.35 billion, a price-to-earnings ratio of -92.05 and a beta of 1.70. The firm has a 50-day moving average price of $8.10 and a 200 day moving average price of $9.72.

Hedge Funds Weigh In On Topgolf Callaway Brands

Several institutional investors have recently made changes to their positions in MODG. Creative Planning boosted its position in shares of Topgolf Callaway Brands by 6.8% during the second quarter. Creative Planning now owns 22,201 shares of the company’s stock worth $340,000 after buying an additional 1,415 shares during the period. Truist Financial Corp increased its position in shares of Topgolf Callaway Brands by 63.9% during the 2nd quarter. Truist Financial Corp now owns 45,972 shares of the company’s stock valued at $703,000 after purchasing an additional 17,931 shares during the period. Park Avenue Securities LLC raised its stake in shares of Topgolf Callaway Brands by 13.5% in the 3rd quarter. Park Avenue Securities LLC now owns 16,679 shares of the company’s stock worth $183,000 after buying an additional 1,985 shares in the last quarter. nVerses Capital LLC acquired a new stake in shares of Topgolf Callaway Brands in the third quarter valued at $133,000. Finally, Everence Capital Management Inc. grew its holdings in Topgolf Callaway Brands by 63.1% during the third quarter. Everence Capital Management Inc. now owns 27,900 shares of the company’s stock worth $306,000 after acquiring an additional 10,790 shares during the period. 84.69% of the stock is owned by institutional investors.

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.