Insider Buying: Fine Rebecca, Topgolf Callaway Brands Corp. [MODG] EVP, Global CPO invested 7,000 shares


The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Topgolf Callaway Brands Corp. shares valued at $113,610 were purchased by Fine Rebecca on May 22. At $16.23 per share, Fine Rebecca acquired 7,000 shares. The insider’s holdings grew to 21,012 shares worth approximately $0.36 million following the completion of this transaction.

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Also, ANDERSON ERIK J sold 10,000 shares, netting a total of over 181,200 in proceeds. Following the sale of shares at $18.12 each, the insider now holds 862,959 shares.

Before that, ANDERSON ERIK J had sold 10,000 shares from its account. In a trade valued at $179,300, the Director traded Topgolf Callaway Brands Corp. shares for $17.93 each. Upon closing the transaction, the insider’s holdings decreased to 10,000 shares, worth approximately $14.97 million.

Analyzing MODG Stock Performance

On Thursday, Topgolf Callaway Brands Corp. [NYSE: MODG] plunged -0.69% to $17.15. The stock’s lowest price that day was $16.86, but it reached a high of $17.29 in the same session. During the last five days, there has been a drop of approximately -1.78%. Over the course of the year, Topgolf Callaway Brands Corp. shares have dropped approximately -13.16%. Shares of the company reached a 52-week high of $25.96 on 02/03/23 and a 52-week low of $16.13 on 05/22/23. A 50-day SMA is recorded $20.71, while a 200-day SMA reached $21.29. Nevertheless, trading volume fell to 3.48 million shares from 4.15 million shares the previous day.

Support And Resistance Levels for Topgolf Callaway Brands Corp. (MODG)

According to the 24-hour chart, there is a support level at 16.91, which, if violated, would cause prices to drop to 16.67. In the upper region, resistance lies at 17.34. The next price resistance is at 17.53. RSI (Relative Strength Index) is 32.94 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.96, which suggests the price will decrease in the coming days. Percent R is at 83.76%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Topgolf Callaway Brands Corp. subject to short interest?

Stocks of Topgolf Callaway Brands Corp. saw a sharp rise in short interest on May 14, 2023 jumping by 1.34 million shares to 10.84 million. Data from Yahoo Finance shows that the short interest on Apr 13, 2023 was 9.5 million shares. A jump of 12.36% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 4.48 of the overall float, the days-to-cover ratio (short ratio) jumped to 4.48.

Which companies own the most shares of Topgolf Callaway Brands Corp. (MODG)?

According to BlackRock Fund Advisors filings, the company currently owns 14,683,921 shares, which is about 7.92% of the total MODG shares outstanding. The investor’s shares have plunged by -57,183 from its previous 13-F filing of 14741104.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $290,887,693. Dimensional Fund Advisors LP acquire a 17.15% interest valued at $142.03 million while SSgA Funds Management, Inc. purchased a 161,200 stake. A total of -3,173,106 shares of Topgolf Callaway Brands Corp. were bought by Boston Partners Global Investors, during the quarter, and 1,093,836 were bought by Loomis, Sayles & Co. LP. In its current portfolio, Fisher Asset Management LLC holds 3,137,115 shares valued at $69.55 million.

In terms of Topgolf Callaway Brands Corp. share price expectations, FactSet research, analysts set an average price target of $31.58 in the next 12 months, up nearly 76.61% from the previous closing price of $17.27. Analysts anticipate Topgolf Callaway Brands Corp. stock to reach $56.00 by 2023, with the lowest price target being $18.00. In spite of this, 13 analysts ranked Topgolf Callaway Brands Corp. stock as an Overweight at the end of 2023.


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