Bowlero (NYSE:BOWL) Shares Gap Down to $14.13

Bowlero Corp. (NYSE:BOWL)’s share price gapped down prior to trading on Friday . The stock had previously closed at $14.13, but opened at $13.73. Bowlero shares last traded at $13.73, with a volume of 192 shares.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Craig Hallum increased their price objective on shares of Bowlero from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. B. Riley reissued a “buy” rating and issued a $17.00 price target on shares of Bowlero in a report on Tuesday, June 25th. CJS Securities reaffirmed a “market perform” rating on shares of Bowlero in a report on Tuesday, May 7th. Roth Mkm lowered their target price on Bowlero from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Tuesday, May 7th. Finally, Canaccord Genuity Group cut their price target on Bowlero from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, May 7th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $16.57.

Bowlero Stock Performance

The company has a 50-day moving average price of $12.73 and a 200-day moving average price of $12.79. The firm has a market capitalization of $2.14 billion, a P/E ratio of 26.66 and a beta of 0.62.

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

Bowlero Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 24th were paid a $0.055 dividend. This represents a $0.22 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend was Thursday, May 23rd. Bowlero’s payout ratio is presently 41.51%.

Insiders Place Their Bets

In other Bowlero news, Director Michelle D. Wilson sold 65,829 shares of Bowlero stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $12.90, for a total transaction of $849,194.10. Following the transaction, the director now directly owns 848,471 shares in the company, valued at $10,945,275.90. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Michelle D. Wilson sold 39,309 shares of the firm’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $13.98, for a total transaction of $549,539.82. Following the sale, the director now directly owns 958,162 shares in the company, valued at $13,395,104.76. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michelle D. Wilson sold 65,829 shares of the business’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $12.90, for a total transaction of $849,194.10. Following the completion of the sale, the director now directly owns 848,471 shares in the company, valued at $10,945,275.90. The disclosure for this sale can be found here. Company insiders own 56.54% of the company’s stock.

Institutional Investors Weigh In On Bowlero

Several institutional investors have recently bought and sold shares of the company. Parkside Financial Bank & Trust lifted its position in Bowlero by 35.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 4,892 shares of the company’s stock worth $69,000 after buying an additional 1,286 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in Bowlero by 2,940.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 6,568 shares of the company’s stock worth $93,000 after acquiring an additional 6,352 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Bowlero by 47.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,800 shares of the company’s stock valued at $110,000 after purchasing an additional 2,500 shares during the last quarter. Quent Capital LLC bought a new position in Bowlero in the fourth quarter valued at approximately $198,000. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Bowlero by 7.0% during 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 during the last quarter. Institutional investors own 68.11% of the company’s stock.

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.