A Guide To The Risks Of Investing In Topgolf Callaway Brands Corp. (MODG)


Topgolf Callaway Brands Corp.’s recently made public that its President and CEO BREWER OLIVER G III acquired Company’s shares for reported $0.16 million on Aug 25. In the deal valued at $16.21 per share,10,000 shares were bought. As a result of this transaction, BREWER OLIVER G III now holds 847,556 shares worth roughly $ 14.76 million.

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Then, ANDERSON ERIK J sold 10,000 shares, generating $165,800 in total proceeds. Upon selling the shares at $16.58, the Director now owns 822,959 shares.

Before that, ANDERSON ERIK J sold 10,000 shares. Topgolf Callaway Brands Corp. shares valued at $162,900 were divested by the Director at a price of $16.29 per share. As a result of the transaction, ANDERSON ERIK J now holds 832,959 shares, worth roughly $14.5 million.

KeyBanc Capital Markets initiated its Topgolf Callaway Brands Corp. [MODG] rating to an Overweight in a research note published on Friday, April 19, 2023; the price target was $27. PT values the company’s stock at a premium of 35.52 to its Friday closing price.

Price Performance Review of MODG

On Friday, Topgolf Callaway Brands Corp. [NYSE:MODG] saw its stock fall -0.17% to $17.41. On the same session, the stock had its day’s lowest price of $17.39, but rose to a high of $17.63. Over the last five days, the stock has gained 5.96%. Topgolf Callaway Brands Corp. shares have fallen nearly -11.85% since the year began. Nevertheless, the stocks have fallen -21.33% over the past one year. While a 52-week high of $25.96 was reached on 02/03/23, a 52-week low of $16.13 was recorded on 08/18/23. SMA at 50 days reached $18.60, while 200 days put it at $20.62. A total of 1.58 million shares were traded, compared to the trading of 3.62 million shares in the previous session.

Levels Of Support And Resistance For MODG Stock

The 24-hour chart illustrates a support level at 17.32, which if violated will result in even more drops to 17.24. On the upside, there is a resistance level at 17.56. A further resistance level may holdings at 17.72. The Relative Strength Index (RSI) on the 14-day chart is 48.59, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.71, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 15.23%. Stochastics %K at 85.81% indicates the stock is a selling.

How much short interest is there in Topgolf Callaway Brands Corp.?

A steep rise in short interest was recorded in Topgolf Callaway Brands Corp. stocks on Aug 14, 2023, growing by 3.16 million shares to a total of 16.64 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 13.48 million shares. There was a rise of 18.99%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 11.69% of the overall stock float, the days-to-cover ratio (short ratio) rose to 6.54.

Topgolf Callaway Brands Corp. [MODG] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 15,150,982 shares, or roughly 8.16% of the outstanding MODG shares. In other words, the investor’s shares have risen by 467,061 from its previous 13-F filing of 14683921.0. Additionally, The Vanguard Group, Inc. increased 0.52% of its stake after which the total value it holdings stand at $263,388,444, while Dimensional Fund Advisors LP added 26.39% of its stake to hold $161.69 million in the firm. Over the last quarter, SSgA Funds Management, Inc. purchased 62,540 shares of Topgolf Callaway Brands Corp., while Boston Partners Global Investors, bought -1,035,373 shares. At present, Loomis, Sayles & Co. LP is holding 3,147,206 shares valued at $62.85 million. Fisher Asset Management LLC owned 3,078,369 shares of the company at the time of its most recent 13F filing, worth $61.48 million.

According to FactSet, Topgolf Callaway Brands Corp.’s share price will average $28.83 in the next year, based on opinions of analysts polled by the firm. This is up nearly 57.68 percent from its previous closing price of $17.44. Analysts expect Topgolf Callaway Brands Corp. stock to reach the higher price of $56.00, while the lowest price estimate is $16.00. However, 13 analysts have rated MODG stock as a Buy in their predictions for 2023.


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