Democrats and Corporate Insiders are Buying These 5 Stocks

4. Topgolf Callaway Brands Corp (NYSE:MODG)

Unusual Whales Democratic ETF (NANC) Stake: $163,987.20

Topgolf Callaway Brands Corp (NYSE:MODG) ranks fourth in our list of the stocks Democrats and corporate insiders are buying. On November 22, Topgolf Callaway Brands Corp’s (NYSE:MODG) CEO and President Oliver G. Brewer III loaded up on 11,000 shares at $11.68 per share. Since this transaction the stock is up 33%. Topgolf Callaway Brands Corp (NYSE:MODG) accounts for about 0.22% of the total assets of the Unusual Whales Democratic ETF.

Polen U.S. Small Company Growth Strategy stated the following regarding Topgolf Callaway Brands Corp. (NYSE:MODG) in its fourth quarter 2023 investor letter:

“Topgolf Callaway Brands Corp. (NYSE:MODG) was created in 2021 with the merger of Callaway, a longstanding and slower-growing collection of high-quality golf brands, and Topgolf, an emerging sports and entertainment company. We spent over a year researching Topgolf Callaway as we sought to gain comfort with the level of earnings post-pandemic (golf popularity increased significantly and the Topgolf operating model. Importantly, we believe the Topgolf business model has significant room for growth both in units and in unit-level profitability. At the same time, the core Callaway brands provide ballast and cash flow to be reinvested to drive future growth. Beyond stores/units, Topgolf Callaway has invested in great brands and golf technology that we believe will create additional runways for growth. While the company is profitable, earnings have been under pressure over the past year. However, we believe they will reach an inflection point based on business mix and growth in Topgolf sometime in FY24, before growing at a consistent low-to-mid teens rate driven by store/unit expansion.”