Bowlero Corp. (NYSE:BOWL) CEO Thomas F. Shannon Sells 192,654 Shares

Bowlero Corp. (NYSE:BOWL – Get Rating) CEO Thomas F. Shannon sold 192,654 shares of the business’s stock in a transaction on Friday, January 20th. The shares were sold at an average price of $14.37, for a total transaction of $2,768,437.98. Following the transaction, the chief executive officer now owns 1,225,774 shares of the company’s stock, valued at $17,614,372.38. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Bowlero Stock Up 0.6 %

Shares of NYSE:BOWL traded up $0.09 during midday trading on Tuesday, hitting $14.28. 901,891 shares of the stock traded hands, compared to its average volume of 886,326. The stock has a market capitalization of $2.37 billion, a PE ratio of -25.05 and a beta of 0.25. The business’s 50 day moving average is $13.38 and its two-hundred day moving average is $12.92. Bowlero Corp. has a one year low of $6.96 and a one year high of $15.28.

Bowlero (NYSE:BOWL – Get Rating) last issued its quarterly earnings data on Wednesday, November 16th. The company reported $0.03 EPS for the quarter, meeting the consensus estimate of $0.03. The firm had revenue of $230.26 million during the quarter, compared to the consensus estimate of $222.35 million. Bowlero had a negative net margin of 8.22% and a negative return on equity of 157.07%. As a group, sell-side analysts forecast that Bowlero Corp. will post 0.73 earnings per share for the current year.

Hedge Funds Weigh In On Bowlero

Several hedge funds and other institutional investors have recently modified their holdings of BOWL. Soros Fund Management LLC raised its stake in Bowlero by 2.2% in the second quarter. Soros Fund Management LLC now owns 9,673,524 shares of the company’s stock worth $102,443,000 after buying an additional 206,858 shares in the last quarter. Apollo Management Holdings L.P. raised its stake in Bowlero by 3.7% in the second quarter. Apollo Management Holdings L.P. now owns 9,455,680 shares of the company’s stock worth $100,136,000 after buying an additional 337,482 shares in the last quarter. Vanguard Group Inc. raised its stake in Bowlero by 134.3% in the third quarter. Vanguard Group Inc. now owns 3,602,828 shares of the company’s stock worth $44,352,000 after buying an additional 2,064,961 shares in the last quarter. BlackRock Inc. raised its stake in Bowlero by 0.8% in the third quarter. BlackRock Inc. now owns 2,508,405 shares of the company’s stock worth $30,878,000 after buying an additional 20,392 shares in the last quarter. Finally, Marshall Wace LLP raised its stake in Bowlero by 73.2% in the third quarter. Marshall Wace LLP now owns 1,044,264 shares of the company’s stock worth $12,853,000 after buying an additional 441,399 shares in the last quarter. 64.88% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Oppenheimer assumed coverage on shares of Bowlero in a research note on Monday, October 3rd. They issued an “outperform” rating and a $16.00 price target for the company.

About Bowlero

(Get Rating)

Bowlero Corp. operates bowling entertainment centers under the AMF, Bowlmor Lanes, and Bowlero brand names. The company also provides hosting and overseeing professional and non-professional bowling tournaments and related broadcasting. As of July 3, 2022, it operated approximately 317 centers in the United States, Mexico, and Canada.