Topgolf Callaway: The Breakup Is A Great Idea [Seeking Alpha]
Topgolf Callaway Brands Corp. (MODG)
Company Research
Source: Seeking Alpha
2.8K Follower s Follow Play 11min Summary The split of Topgolf and Callaway is expected to maximize shareholder value by allowing each brand to focus on their core business models independently. Topgolf's capital-intensive nature has been a drag on Callaway, making the separation beneficial for both entities to operate more efficiently. The combined entity trades at a deep value of 0.52x forward book value, presenting a 92.3% upside if shares converge to 1x book value. The split will leave Topgolf with no debt and $200 million in cash, while Callaway retains a 20% stake in Topgolf for future upside. Scott Halleran/Getty Images Sport Co-Authored By Noah Cox and Brock Heilig Investment Thesis Topgolf Callaway ( NYSE: MODG ) shares have been laggards compared to the broader market ever since the merger between Callaway, a leading golf club manufacturer, and Topgolf, a leading driving range venue. At the time, the two companies announced a $2 billion merger that
Show less
Read more
Impact Snapshot
Event Time:
MODG
Last Price
Price Change
Price Change%
Volume Shares
Max Up
Max Down
%
Volume Ratio
Performance Comparison
Updated
|
Event Day
Stock performance from the time of news release until the following 4pm ET market close
|
Last price at news event
|
Since Event
Multi-day stock performance from the time of the news release
|
|---|---|---|
|
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
|
LAST
PRICE AT NEWS EVENT |
SINCE EVENT
Multi-day stock performance from the time of the news release
|
| Last Price | ||
| VWAP | ||
|
High:
|
Max Up |
High:
|
|
Low:
|
Max Down |
Low:
|
|
%
|
Post news range |
%
|
|
|
Price change |
|
|
|
Price Change Percentage |
|
|
|
S&P 500 (SPX) |
|
|
%
|
Volume ratio |
%
|
| Volume | ||
| Ticks | ||
|
|
Avg transaction size |
|
Don't Miss Out On The Next BIG Stock Move
Event day
Event Day Chart will not be displayed beyond 90-day period of the event
Performance since event
Time And Velocity Analysis
Be the first to know
Opt in for alerts from News Quantifed
Sign Up Today
Opt-in for
MODG alerts
Learn More With NQ
Reading the Impact Report
Help Me Understand This Data
Help Me Understand This Data
How NQ Works
What is news-based trading?
And why is it so successful?
And why is it so successful?
Movers & Shakers
The biggest gainers and losers and WHY it moved
MODG alerts
High impacting Topgolf Callaway Brands Corp. news events
Weekly update
A roundup of the hottest topics
MODG
News
- Shop 12 top golf deals for up to 41% off Callaway, Titleist, Under Armour and more [USA TODAY]USA TODAY
- Topgolf and SEGA of America Partner to Launch Exclusive New Sonic the Hedgehog™ Game at TopgolfPR Newswire
- Topgolf Callaway Brands Corp. (MODG): A Bull Case Theory [Yahoo! Finance]Yahoo! Finance
- MODG Expands Presence in Saudi Arabia With Golf Saudi Partnership [Yahoo! Finance]Yahoo! Finance
- Topgolf Callaway Brands Enters into Multiyear Strategic Agreement with Golf Saudi [Yahoo! Finance]Yahoo! Finance
MODG
Earnings
- 8/7/24 - Beat
MODG
Sec Filings
- 9/16/24 - Form 4
- 9/16/24 - Form 4
- 9/16/24 - Form 4
- MODG's page on the SEC website