Bowlero Corp. (NYSE:BOWL) Director Sells $549,539.82 in Stock

Bowlero Corp. (NYSE:BOWL) Director Michelle D. Wilson sold 39,309 shares of Bowlero stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $13.98, for a total transaction of $549,539.82. Following the completion of the transaction, the director now directly owns 958,162 shares of the company’s stock, valued at $13,395,104.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Bowlero Trading Down 3.4 %

Bowlero stock opened at $12.78 on Monday. The company has a quick ratio of 1.21, a current ratio of 1.29 and a debt-to-equity ratio of 46.80. The firm has a 50-day moving average price of $12.20 and a two-hundred day moving average price of $12.51. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of 24.11 and a beta of 0.58. Bowlero Corp. has a 52-week low of $8.85 and a 52-week high of $15.47.

Bowlero (NYSE:BOWL) last issued its quarterly earnings results on Monday, May 6th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.11). The company had revenue of $337.67 million during the quarter, compared to analyst estimates of $341.45 million. Bowlero had a return on equity of 330.46% and a net margin of 11.24%. Sell-side analysts expect that Bowlero Corp. will post 0.04 earnings per share for the current year.

Bowlero Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 24th were paid a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date was Thursday, May 23rd. Bowlero’s dividend payout ratio is currently 41.51%.

Institutional Trading of Bowlero

Institutional investors have recently made changes to their positions in the stock. Parkside Financial Bank & Trust lifted its stake in shares of Bowlero by 35.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 4,892 shares of the company’s stock worth $69,000 after acquiring an additional 1,286 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of Bowlero by 2,940.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 6,568 shares of the company’s stock worth $93,000 after purchasing an additional 6,352 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Bowlero by 47.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,800 shares of the company’s stock worth $110,000 after purchasing an additional 2,500 shares in the last quarter. Quent Capital LLC bought a new stake in shares of Bowlero in the 4th quarter worth approximately $198,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Bowlero by 7.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,953 shares of the company’s stock worth $205,000 after purchasing an additional 978 shares in the last quarter. 68.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BOWL has been the subject of several research reports. Stifel Nicolaus decreased their price target on shares of Bowlero from $19.00 to $17.00 and set a “buy” rating for the company in a report on Tuesday, May 7th. CJS Securities reaffirmed a “market perform” rating on shares of Bowlero in a report on Tuesday, May 7th. Roth Mkm decreased their price target on shares of Bowlero from $17.00 to $15.00 and set a “buy” rating for the company in a report on Tuesday, May 7th. B. Riley decreased their price target on shares of Bowlero from $19.00 to $17.00 and set a “buy” rating for the company in a report on Tuesday, May 7th. Finally, Canaccord Genuity Group reduced their target price on shares of Bowlero from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, May 7th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $16.57.

Bowlero Company Profile

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. It operates bowling centers in the United States, Mexico, and Canada.