Bowlero Corp. (NYSE:BOWL) CFO Sells $471,250.00 in Stock

Bowlero Corp. (NYSE:BOWL – Get Rating) CFO Brett I. Parker sold 32,500 shares of the business’s stock in a transaction dated Friday, January 20th. The shares were sold at an average price of $14.50, for a total value of $471,250.00. Following the completion of the sale, the chief financial officer now directly owns 2,117,673 shares of the company’s stock, valued at $30,706,258.50. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Bowlero Stock Performance

BOWL traded up $0.09 during midday trading on Tuesday, reaching $14.28. 901,891 shares of the company were exchanged, compared to its average volume of 886,326. The company’s fifty day moving average price is $13.38 and its 200 day moving average price is $12.92. The company has a market cap of $2.37 billion, a price-to-earnings ratio of -25.05 and a beta of 0.25. 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, hitting analysts’ consensus estimates of $0.03. The firm had revenue of $230.26 million during the quarter, compared to analyst estimates of $222.35 million. Bowlero had a negative return on equity of 157.07% and a negative net margin of 8.22%. As a group, sell-side analysts anticipate that Bowlero Corp. will post 0.73 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bowlero

A number of hedge funds and other institutional investors have recently modified their holdings of the business. North Star Investment Management Corp. purchased a new position in shares of Bowlero in the 4th quarter worth approximately $1,494,000. Bank of New York Mellon Corp boosted its stake in shares of Bowlero by 12.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 253,036 shares of the company’s stock worth $3,114,000 after buying an additional 27,496 shares during the last quarter. California State Teachers Retirement System boosted its stake in shares of Bowlero by 3.5% in the 3rd quarter. California State Teachers Retirement System now owns 50,941 shares of the company’s stock worth $627,000 after buying an additional 1,705 shares during the last quarter. Alpha Paradigm Partners LLC purchased a new position in shares of Bowlero in the 3rd quarter worth approximately $740,000. Finally, CIBC Private Wealth Group LLC boosted its stake in shares of Bowlero by 22.1% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 43,948 shares of the company’s stock worth $541,000 after buying an additional 7,948 shares during the last quarter. Hedge funds and other institutional investors own 64.88% of the company’s stock.

Analyst Ratings Changes

Separately, Oppenheimer started coverage on Bowlero in a report on Monday, October 3rd. They set an “outperform” rating and a $16.00 price objective for the company.

Bowlero Company Profile

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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.