Qsemble Capital Management LP Invests $207,000 in Topgolf Callaway Brands Corp. (NYSE:MODG)

Qsemble Capital Management LP purchased a new stake in Topgolf Callaway Brands Corp. (NYSE:MODG) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 12,783 shares of the company’s stock, valued at approximately $207,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Teachers Retirement System of The State of Kentucky lifted its position in shares of Topgolf Callaway Brands by 93.9% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 47,502 shares of the company’s stock worth $658,000 after purchasing an additional 22,998 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Topgolf Callaway Brands by 0.9% during the third quarter. Vanguard Group Inc. now owns 13,557,515 shares of the company’s stock worth $187,636,000 after purchasing an additional 116,267 shares during the last quarter. North Star Investment Management Corp. lifted its position in shares of Topgolf Callaway Brands by 57,166.7% during the fourth quarter. North Star Investment Management Corp. now owns 120,260 shares of the company’s stock worth $1,725,000 after purchasing an additional 120,050 shares during the last quarter. Profit Investment Management LLC lifted its position in shares of Topgolf Callaway Brands by 8.3% during the fourth quarter. Profit Investment Management LLC now owns 208,805 shares of the company’s stock worth $2,994,000 after purchasing an additional 15,945 shares during the last quarter. Finally, Raymond James & Associates lifted its position in shares of Topgolf Callaway Brands by 2.3% during the fourth quarter. Raymond James & Associates now owns 99,827 shares of the company’s stock worth $1,432,000 after purchasing an additional 2,258 shares during the last quarter. 84.69% of the stock is currently owned by institutional investors and hedge funds.

Topgolf Callaway Brands Stock Performance

NYSE:MODG traded up $0.68 during trading hours on Tuesday, hitting $15.60. 1,721,920 shares of the company traded hands, compared to its average volume of 2,247,776. Topgolf Callaway Brands Corp. has a twelve month low of $9.84 and a twelve month high of $20.14. The stock has a market capitalization of $2.86 billion, a price-to-earnings ratio of 40.33, a P/E/G ratio of 2.48 and a beta of 1.77. The company has a current ratio of 1.82, a quick ratio of 1.02 and a debt-to-equity ratio of 0.39. The firm has a 50-day moving average of $15.17 and a 200 day moving average of $14.91.

Topgolf Callaway Brands (NYSE:MODG) last posted its earnings results on Wednesday, May 8th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.08. Topgolf Callaway Brands had a net margin of 1.80% and a return on equity of 1.93%. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the prior year, the firm earned $0.17 EPS. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. On average, analysts forecast that Topgolf Callaway Brands Corp. will post 0.34 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on MODG shares. TD Cowen raised their price target on shares of Topgolf Callaway Brands from $10.00 to $13.00 and gave the company a “hold” rating in a research note on Monday, May 13th. Tigress Financial restated a “buy” rating and issued a $38.00 price target on shares of Topgolf Callaway Brands in a research note on Friday, April 12th. Truist Financial raised their price target on shares of Topgolf Callaway Brands from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, April 29th. Finally, B. Riley raised their price objective on shares of Topgolf Callaway Brands from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $19.33.

Insiders Place Their Bets

In other news, Director Erik J. Anderson sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $15.37, for a total value of $115,275.00. Following the transaction, the director now owns 760,459 shares of the company’s stock, valued at approximately $11,688,254.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Erik J. Anderson sold 10,000 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $15.19, for a total value of $151,900.00. Following the sale, the director now directly owns 767,959 shares in the company, valued at approximately $11,665,297.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Erik J. Anderson sold 7,500 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $15.37, for a total transaction of $115,275.00. Following the completion of the sale, the director now owns 760,459 shares in the company, valued at $11,688,254.83. The disclosure for this sale can be found here. Insiders own 2.49% of the company’s stock.

Topgolf Callaway Brands 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.