Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Topgolf Callaway Brands Corp shares valued at $151,900 were sold by ANDERSON ERIK J on May 10 ’24. At $15.19 per share, ANDERSON ERIK J sold 10,000 shares. The insider’s holdings dropped to 767,959 shares worth approximately $6.15 million following the completion of this transaction.
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Also, ANDERSON ERIK J sold 7,500 shares, netting a total of over 115,275 in proceeds. Following the sale of shares at $15.37 each, the insider now holds 760,459 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 $6.27 million.
As published in a research note from B. Riley Securities on October 17, 2024, Topgolf Callaway Brands Corp [MODG] has been rated down from a Buy to a Neutral and the price target has been revised to $12 from $18. Analysts at Jefferies downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in late August. As of August 23, 2024, Raymond James has decreased its “an Outperform” rating to a “an Underperform” for MODG. Earlier on August 08, 2024, KeyBanc Capital Markets downgraded its rating. Their new recommendation was “a Sector weight” for MODG stock which previously was a “an Overweight”.
Analyzing MODG Stock Performance
During the last five days, there has been a drop of approximately -0.62%. Over the course of the year, Topgolf Callaway Brands Corp shares have dropped approximately -44.14%. Shares of the company reached a 52-week high of $16.89 on 07/31/24 and a 52-week low of $7.93 on 12/06/24. A 50-day SMA is recorded $9.35, while a 200-day SMA reached $12.92. Nevertheless, trading volume fell to 1.58 million shares from 2.03 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 7.92, which, if violated, would cause prices to drop to 7.82. In the upper region, resistance lies at 8.17. The next price resistance is at 8.32. RSI (Relative Strength Index) is 37.84 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.16, which suggests the price will decrease in the coming days. Percent R is at 93.19%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
