Topgolf Callaway Brands (NYSE:MODG) Stock Price Down 5.3% - Time to Sell?

Shares of Topgolf Callaway Brands Corp. (NYSE:MODG - Get Free Report) traded down 5.3% during mid-day trading on Monday . The stock traded as low as $6.01 and last traded at $6.01. 891,466 shares traded hands during trading, a decline of 68% from the average session volume of 2,752,854 shares. The stock had previously closed at $6.34.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of Topgolf Callaway Brands from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Roth Mkm reaffirmed a "buy" rating and set a $11.00 price target (down previously from $16.00) on shares of Topgolf Callaway Brands in a research note on Tuesday, February 25th. B. Riley assumed coverage on shares of Topgolf Callaway Brands in a research note on Friday, May 16th. They set a "neutral" rating and a $7.00 price target for the company. JPMorgan Chase & Co. dropped their price target on shares of Topgolf Callaway Brands from $8.00 to $7.00 and set a "neutral" rating for the company in a research note on Tuesday, May 27th. Finally, Truist Financial dropped their price target on shares of Topgolf Callaway Brands from $12.00 to $7.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $10.30.

Topgolf Callaway Brands Trading Up 5.8%

The company has a quick ratio of 1.14, a current ratio of 1.93 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $1.20 billion, a P/E ratio of -81.61 and a beta of 1.25. The firm's 50 day simple moving average is $6.48 and its two-hundred day simple moving average is $7.23.

Topgolf Callaway Brands (NYSE:MODG - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.15. Topgolf Callaway Brands had a negative net margin of 0.29% and a positive return on equity of 1.20%. The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the previous year, the firm posted $0.08 earnings per share. The business's revenue was down 4.5% compared to the same quarter last year. As a group, analysts forecast that Topgolf Callaway Brands Corp. will post 0.16 earnings per share for the current fiscal year.

Insider Buying and Selling at Topgolf Callaway Brands

In other Topgolf Callaway Brands news, Director Russell L. Fleischer acquired 30,000 shares of Topgolf Callaway Brands stock in a transaction dated Wednesday, May 14th. The stock was purchased at an average cost of $6.41 per share, for a total transaction of $192,300.00. Following the completion of the acquisition, the director now directly owns 116,187 shares of the company's stock, valued at $744,758.67. This represents a 34.81% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Oliver G. Brewer III purchased 20,000 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The shares were purchased at an average price of $6.40 per share, for a total transaction of $128,000.00. Following the completion of the acquisition, the chief executive officer now owns 1,009,297 shares of the company's stock, valued at $6,459,500.80. The trade was a 2.02% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 60,000 shares of company stock valued at $388,900. Corporate insiders own 2.40% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Thompson Investment Management Inc. boosted its holdings in Topgolf Callaway Brands by 11.1% during the fourth quarter. Thompson Investment Management Inc. now owns 362,299 shares of the company's stock worth $2,848,000 after purchasing an additional 36,201 shares during the last quarter. Wealthfront Advisers LLC boosted its holdings in Topgolf Callaway Brands by 589.5% during the fourth quarter. Wealthfront Advisers LLC now owns 85,807 shares of the company's stock worth $674,000 after purchasing an additional 73,362 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Topgolf Callaway Brands by 14.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,286,719 shares of the company's stock worth $17,974,000 after purchasing an additional 291,052 shares during the last quarter. Invesco Ltd. boosted its holdings in Topgolf Callaway Brands by 41.9% during the fourth quarter. Invesco Ltd. now owns 1,591,742 shares of the company's stock worth $12,511,000 after purchasing an additional 469,728 shares during the last quarter. Finally, Claar Advisors LLC purchased a new position in Topgolf Callaway Brands during the fourth quarter worth about $4,716,000. 84.69% of the stock is currently owned by hedge funds and other 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.