Topgolf Callaway Brands (NYSE:MODG) Stock Price Down 9.9% – Time to Sell?

Topgolf Callaway Brands Corp. (NYSE:MODG)’s share price fell 9.9% during mid-day trading on Monday . The company traded as low as $5.63 and last traded at $5.65. 3,802,350 shares changed hands during mid-day trading, an increase of 48% from the average session volume of 2,576,308 shares. The stock had previously closed at $6.27.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Truist Financial reduced their price objective on shares of 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. Jefferies Financial Group upgraded shares of Topgolf Callaway Brands from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $11.00 to $13.00 in a report on Thursday, January 2nd. Roth Mkm reiterated a “buy” rating and set a $11.00 target price (down from $16.00) on shares of Topgolf Callaway Brands in a research note on Tuesday, February 25th. Finally, JPMorgan Chase & Co. decreased their price target on 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. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Topgolf Callaway Brands currently has an average rating of “Hold” and a consensus target price of $13.91.

Topgolf Callaway Brands Price Performance

The firm has a market capitalization of $1.05 billion, a PE ratio of -71.30 and a beta of 1.47. 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 firm has a 50-day simple moving average of $6.87 and a 200-day simple moving average of $8.27.

Topgolf Callaway Brands (NYSE:MODG) last released its quarterly earnings results on Monday, February 24th. The company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.07. Topgolf Callaway Brands had a negative net margin of 0.29% and a positive return on equity of 1.20%. The business had revenue of $924.40 million for the quarter, compared to the consensus estimate of $1.13 billion. As a group, equities analysts forecast that Topgolf Callaway Brands Corp. will post 0.16 earnings per share for the current year.

Hedge Funds Weigh In On Topgolf Callaway Brands

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC bought a new position in shares of Topgolf Callaway Brands in the fourth quarter worth about $289,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Topgolf Callaway Brands by 23.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 437,898 shares of the company’s stock worth $3,442,000 after acquiring an additional 82,642 shares during the period. Voloridge Investment Management LLC lifted its holdings in Topgolf Callaway Brands by 22.6% during the fourth quarter. Voloridge Investment Management LLC now owns 322,452 shares of the company’s stock valued at $2,534,000 after purchasing an additional 59,416 shares in the last quarter. Wexford Capital LP bought a new position in shares of Topgolf Callaway Brands in the fourth quarter worth approximately $98,000. Finally, Two Sigma Advisers LP purchased a new stake in shares of Topgolf Callaway Brands in the fourth quarter worth $159,000. 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.