Why ClubCorp (MYCC) Stock Is Surging Today

NEW YORK (TheStreet) -- Shares of ClubCorp Holding (MYCC) are up 7.99% to $18.24 on very heavy trading volume after the largest owner of private golf and country clubs in the U.S., bought Sequoia Golf for $265 million to add 50 properties and expand its geographic footprint, Bloomberg reports.

The purchase will make Dallas-based ClubCorp, which already owned or operated 159 courses, almost five times the size of its next largest competitor in the U.S., Bloomberg said.

Sequioa’s portfolio includes four Atlanta-based clubs, 25 private Canongate brand clubs and the 63-hole Woodlands Country Club in Texas, the companies said today.

 

MYCC ChartMYCC data by YCharts

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