Why Topgolf Callaway Brands Stock Is Driving Higher Today [Yahoo! Finance]
Topgolf Callaway Brands Corp. (MODG)
Company Research
Source: Yahoo! Finance
Investors are intrigued by the possibility, sending Topgolf shares up 11% as of 10:45 Eastern. Time to unwind a three-year-old deal? Callaway is one of the biggest names in golf, a manufacturer of clubs, balls, and other apparel and equipment. In 2021 the company acquired Topgolf, a chain of golf-related entertainment centers , in an effort to appeal to a younger audience that might not want to commit to hours on the golf course. The deal has so far not been a hit with investors. Topgolf Callaway shares today trade at less than half of their summer 2021 highs. According to reports, Callaway's private equity owners are considering options. South Korea's Chosun Daily says that major shareholders BlackRock Advisors, Providence Equity Partners, and Thomas Dundon, who together own about one-third of the company's shares, have put the Callaway business up for sale. A sale could unwind the 2021 merger. According to the report, the shareholders are considering spinning Topgolf out a
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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