The sports industry usually rakes in millions of dollars. From the actual events to the promotions and endorsements, it’s one of the few sectors that continued to thrive even during the pandemic.
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And for investors, this can translate into profitable investment opportunities and can also provide diversification. Indeed, sport stocks can encompass sport venues, sporting goods or even sports teams.
Here are some of the best investments among sport stocks, based on data collected on April 18:
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Topgolf Callaway Brands
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Past year: -31.43%
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Year to date: 8.30%
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Past month: 7.92%
The stock is traded on the New York Stock Exchange.
There seems to be momentum for the stock, driven by talks around a possible spinoff deal, The Motley Fool reported.
Under the reported deal, Topgolf would become an independent entertainment company, while the golf equipment business would be sold, The Motley Fool added.
Draftkings
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Past year: 98.97%
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Year to date: 18.09%
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Past month: -4.92%
Shares of the online sports entertainment and gaming company DraftKings have been on a roll this past year, yet some analysts said they could continue to grow.
CFRA Research has a Hold opinion on the stock, saying that “DKNG is a first mover in mobile sports betting and mobile gaming with industry best technology and customer service,” according to an April 13 research note.
“DKNG sees the total addressable market for mobile sports betting and iGaming at $80B in North America, which we believe DKNG can control about 40% over the long run as competition consolidates,” wrote CFRA equity analyst Zachary Warring in the note.
Churchill Downs
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Past year: -7.20%
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Year to date: -11.90%
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Past month: 1.23%
Churchill Downs is set to release year-over-year earnings on April 24, and Zacks reported that while these are expected to decline, the stock could bounce higher if they top the estimates.
Vail Resorts
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Past year: -14.59%
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Year to date: 0.38%
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Past month: -4.74%
Several research analysts have a Buy rating on the stock, including Stifel Nicolaus, which also issued a $263 target price on the shares; Truist Financial, which issued a $290 target price; and Morgan Stanley, which increased its target price to $248, according to MarketBeat.
Dick’s Sporting Goods
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Past year: 37.16%
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Year to date: 33.06%
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Past month: -9.04%
Despite inflation, which has taken a toll on many retailers due to budget-conscious consumers, Dick’s Sporting Goods has been faring rather well.
In turn, Zacks noted that savvy investors might want to bet on retail stocks such as Dick’s, which has a Buy opinion.
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This article originally appeared on GOBankingRates.com: 5 Best Sports Stocks To Invest In