3 Best Golf Stocks to Buy Now

In this article, we discuss 3 best golf stocks to buy now. If you want to see more stocks in this selection, check out 6 Best Golf Stocks to Buy Now. 

3. Topgolf Callaway Brands Corp. (NYSE:MODG)

Number of Hedge Fund Holders: 29

Topgolf Callaway Brands Corp. (NYSE:MODG) is a California-based global sports equipment manufacturing company that designs, manufactures, and sells golf equipment, such as clubs, balls, bags, gloves, and caps. It is one of the best golf stocks to consider. Topgolf Callaway Brands Corp. (NYSE:MODG) also manufactures golf clothing and shoes through its subsidiaries. In 2021, Callaway Golf purchased Topgolf and rebranded as Topgolf Callaway Brands Corp. (NYSE:MODG). The company also operates a network of golf-related amusement centers.

On October 10, B. Riley analyst Eric Wold assumed coverage of Topgolf Callaway Brands Corp. (NYSE:MODG) with a Buy rating and a $29 price target. The analyst expects traditional golf participation to benefit from “long-term tailwinds following the incremental pandemic boost” and also sees the company’s pairing with Topgolf as a natural fit to generate resilient profitability and growth “as cross-promotion opportunities into traditional golf and apparel come into play.” 

According to Insider Monkey’s data, 29 hedge funds were bullish on Topgolf Callaway Brands Corp. (NYSE:MODG) at the end of June 2022, and Dmitry Balyasny’s Balyasny Asset Management is a prominent stakeholder of the company, with 1.85 million shares worth $37.8 million.