Topgolf, Callaway brands could be spun apart, according to report [USA TODAY]
Topgolf Callaway Brands Corp. (MODG)
Company Research
Source: USA TODAY
According to the reports, the golf equipment maker would be valued at nearly $3 billion. Topgolf Callaway Brands Corp.'s major shareholders – BlackRock Advisors LLC, Providence Equity Partners LLC and Thomas Dundon – have selected a lead manager to explore possible deals. The New York Stock Exchange share price for Topgolf Callaway Brands Corp. surged more than 12 percent to more than $16 in the wake of the reports, as of noon Wednesday. That put the company's market cap at $2.98 billion. Topgolf Callaway Brands Corp.'s stock price had dropped from a 12-month high of $22.87 on April 21, 2023, to a low of $10.05 on November 10. In 2024, it has traded in the $13-$14 range Reports indicate that the major shareholders want to spin off Topgolf, the entertainment brand with technology-boosted driving ranges and extensive food-and-beverage operations. Callaway Golf Co. closed a deal in March of 2021 to acquire the remainder of Topgolf Entertainment Group it didn't already own, valuing t
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MODG
News
- Topgolf Callaway Brands Corp. (NYSE: MODG) had its price target raised by analysts at B. Riley from $18.00 to $21.00. They now have a "buy" rating on the stock.MarketBeat
- Topgolf Callaway Brands to Release First Quarter 2024 Financial ResultsPR Newswire
- Topgolf Callaway Brands Corp. (NYSE: MODG) had its price target raised by analysts at Truist Financial Co. from $18.00 to $20.00. They now have a "buy" rating on the stock.MarketBeat
- [Latest] Global Golf Training Aids Market Size/Share Worth USD 4.6 Billion by 2033 at a 5.7% CAGR: Custom Market Insights (Analysis, Outlook, Leaders, Report, Trends, Forecast, Segmentation, Growth, Growth Rate, Value) [Yahoo! Finance]Latest
- Topgolf Callaway Brands (NYSE:MODG) shareholders have endured a 47% loss from investing in the stock three years ago [Yahoo! Finance]Yahoo! Finance
MODG
Earnings
- 2/13/24 - Beat
MODG
Sec Filings
- 4/24/24 - Form 4
- 4/18/24 - Form ARS
- 4/18/24 - Form DEFA14A
- MODG's page on the SEC website