Topgolf Callaway Brands (NYSE:MODG) Trading Down 5.2% – Should You Sell?

Topgolf Callaway Brands Corp. (NYSE:MODG) dropped 5.2% on Tuesday . The stock traded as low as $8.37 and last traded at $8.39. Approximately 650,628 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 2,510,054 shares. The stock had previously closed at $8.85.

Analyst Upgrades and Downgrades

MODG has been the subject of several research reports. JPMorgan Chase & Co. dropped their target price on Topgolf Callaway Brands from $13.00 to $11.00 and set a “neutral” rating for the company in a research report on Wednesday, November 13th. Morgan Stanley dropped their target price on Topgolf Callaway Brands from $11.00 to $10.00 and set an “underweight” rating for the company in a research report on Thursday, August 8th. KeyCorp downgraded Topgolf Callaway Brands from an “overweight” rating to a “sector weight” rating in a research report on Thursday, August 8th. The Goldman Sachs Group lowered their price objective on 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. Finally, Raymond James downgraded Topgolf Callaway Brands from an “outperform” rating to an “underperform” rating in a research report on Friday, August 23rd. Two 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. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $14.92.

Topgolf Callaway Brands Price Performance

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 company’s 50 day simple moving average is $9.87 and its 200 day simple moving average is $12.40. The company has a market capitalization of $1.53 billion, a PE ratio of -103.80, a price-to-earnings-growth ratio of 6.02 and a beta of 1.75.

Institutional Investors Weigh In On Topgolf Callaway Brands

Large investors have recently modified their holdings of the stock. Fifth Third Bancorp increased its stake in Topgolf Callaway Brands by 327.6% in the 2nd quarter. Fifth Third Bancorp now owns 2,527 shares of the company’s stock valued at $39,000 after buying an additional 1,936 shares during the period. Dnca Finance acquired a new position in shares of Topgolf Callaway Brands during the second quarter worth about $134,000. Koss Olinger Consulting LLC purchased a new position in Topgolf Callaway Brands during the second quarter worth about $160,000. Simon Quick Advisors LLC acquired a new stake in Topgolf Callaway Brands in the second quarter valued at about $161,000. Finally, Cetera Advisors LLC purchased a new stake in Topgolf Callaway Brands in the 1st quarter valued at approximately $182,000. Hedge funds and other institutional investors own 84.69% of the company’s stock.

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.