nVerses Capital LLC Invests $133,000 in Topgolf Callaway Brands Corp. (NYSE:MODG)

nVerses Capital LLC bought a new position in shares of Topgolf Callaway Brands Corp. (NYSE:MODG) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 12,100 shares of the company’s stock, valued at approximately $133,000.

A number of other institutional investors and hedge funds also recently modified their holdings of MODG. Fifth Third Bancorp grew its holdings in shares of Topgolf Callaway Brands by 327.6% during the second 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 in the last quarter. Dnca Finance purchased a new position in shares of Topgolf Callaway Brands during the second quarter valued at $134,000. Koss Olinger Consulting LLC purchased a new position in shares of Topgolf Callaway Brands during the second quarter valued at $160,000. Simon Quick Advisors LLC purchased a new position in shares of Topgolf Callaway Brands during the second quarter valued at $161,000. Finally, QRG Capital Management Inc. purchased a new position in shares of Topgolf Callaway Brands during the first quarter valued at $178,000. 84.69% of the stock is owned by institutional investors and hedge funds.

Topgolf Callaway Brands Stock Performance

MODG opened at $10.66 on Friday. The company has a market cap of $1.96 billion, a PE ratio of 28.81, a price-to-earnings-growth ratio of 6.42 and a beta of 1.75. The stock has a 50-day moving average of $10.60 and a 200-day moving average of $13.69. Topgolf Callaway Brands Corp. has a 52-week low of $9.05 and a 52-week high of $16.89. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.15 and a current ratio of 1.93.

Topgolf Callaway Brands (NYSE:MODG) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.14. Topgolf Callaway Brands had a return on equity of 2.07% and a net margin of 0.50%. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the previous year, the firm earned $0.39 EPS. The firm’s revenue was down 1.9% compared to the same quarter last year. As a group, equities research analysts forecast that Topgolf Callaway Brands Corp. will post 0.18 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on MODG shares. Raymond James downgraded Topgolf Callaway Brands from an “outperform” rating to an “underperform” rating in a report on Friday, August 23rd. KeyCorp downgraded Topgolf Callaway Brands from an “overweight” rating to a “sector weight” rating in a research note on Thursday, August 8th. Roth Mkm restated a “buy” rating and issued a $17.00 target price on shares of Topgolf Callaway Brands in a research note on Thursday, September 5th. B. Riley downgraded Topgolf Callaway Brands from a “buy” rating to a “neutral” rating and lowered their target price for the company from $18.00 to $12.00 in a research note on Thursday. Finally, Bank of America lowered their target price on Topgolf Callaway Brands from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, September 12th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Topgolf Callaway Brands currently has a consensus rating of “Hold” and a consensus target price of $15.31.

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.