Topgolf Callaway Soars on Report It's Exploring Sale, Spinoff [BNN Bloomberg (Canada)]
Topgolf Callaway Brands Corp. (MODG)
Company Research
Source: BNN Bloomberg
Shares climbed as much as 12% Wednesday after the Chosun Daily reported that the Callaway Golf business would be valued at nearly $3 billion in a potential deal, citing sources in the investment banking industry. Topgolf Callaway's major shareholders will spin off Topgolf, the chain of high-tech driving ranges, and sell only Callaway, the news outlet said. The report comes as the golf industry struggles to hold onto a pandemic boom in the sport. The uncertainty has done little to deter some investors. Centroid Investment Partners — which owns TaylorMade, the company Tiger Woods is partnering with for an apparel line — said in February it was raising a $500 million fund for a new acquisition. Read more: Golf-Loving Investor Behind Tiger Woods Deal Seeks More M&A Callaway's major shareholders have selected a lead manager and are in the process of selling their stakes and management rights, according to the South Korean news outlet. Topgolf Callaway didn't respond to a request for
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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