Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Topgolf Callaway Brands Corp shares valued at $72,750 were sold by ANDERSON ERIK J on Feb 20 ’24. At $14.55 per share, ANDERSON ERIK J sold 5,000 shares. The insider’s holdings dropped to 777,959 shares worth approximately $12.19 million following the completion of this transaction.
Also, ANDERSON ERIK J sold 2,028 shares, netting a total of over 29,994 in proceeds. Following the sale of shares at $14.79 each, the insider now holds 2,242 shares.
Before that, ANDERSON ERIK J had sold 10,000 shares from its account. In a trade valued at $151,200, the Director traded Topgolf Callaway Brands Corp shares for $15.12 each. Upon closing the transaction, the insider’s holdings decreased to 10,000 shares, worth approximately $12.27 million.
As published in a research note from Stephens on November 09, 2023, Topgolf Callaway Brands Corp [MODG] has been rated down from an Overweight to an Equal-weight and the price target has been revised to $13. Analysts at JP Morgan downgraded the stock from ‘”an Overweight”‘ to ‘”a Neutral”‘ outlook in a report released in early November. As of September 27, 2023, Morgan Stanley has initiated its “an Underweight” rating for MODG. Earlier on April 19, 2023, KeyBanc Capital Markets initiated its rating. Their recommendation was “an Overweight” for MODG stock.
Analyzing MODG Stock Performance
During the last five days, there has been a drop of approximately -3.45%. Over the course of the year, Topgolf Callaway Brands Corp shares have jumped approximately 9.27%. Shares of the company reached a 52-week high of $16.75 on 04/04/24 and a 52-week low of $12.90 on 02/06/24. A 50-day SMA is recorded $14.87, while a 200-day SMA reached $14.96. Nevertheless, trading volume fell to 1.17 million shares from 1.54 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 15.56, which, if violated, would cause prices to drop to 15.45. In the upper region, resistance lies at 15.84. The next price resistance is at 16.00. RSI (Relative Strength Index) is 51.55 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.51, which suggests the price will decrease in the coming days. Percent R is at 78.26%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
