Bowlero (NYSE:BOWL) Shares Gap Up to $10.79

Bowlero Corp. (NYSE:BOWL) shares gapped up before the market opened on Friday . The stock had previously closed at $10.79, but opened at $12.23. Bowlero shares last traded at $12.38, with a volume of 531,169 shares changing hands.

Analyst Ratings Changes

Separately, B. Riley reaffirmed a “buy” rating and set a $17.00 price objective on shares of Bowlero in a report on Tuesday. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $16.57.

Bowlero Price Performance

The business’s 50 day simple moving average is $12.42 and its 200 day simple moving average is $12.60. The company has a market capitalization of $1.82 billion, a PE ratio of 23.15 and a beta of 0.62.

Bowlero Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Friday, August 23rd will be paid a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date is Friday, August 23rd. Bowlero’s dividend payout ratio (DPR) 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 shares were 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 of the company’s stock, valued at $10,945,275.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Bowlero news, Director Michelle D. Wilson sold 65,829 shares of Bowlero stock in a transaction dated 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 sale, the director now owns 958,162 shares of the company’s stock, valued at $13,395,104.76. The disclosure for this sale can be found here. 56.54% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Squarepoint Ops LLC grew its holdings in shares of Bowlero by 201.2% in the second quarter. Squarepoint Ops LLC now owns 82,803 shares of the company’s stock valued at $1,200,000 after purchasing an additional 164,603 shares in the last quarter. Marshall Wace LLP lifted its stake in Bowlero by 101.5% in the second quarter. Marshall Wace LLP now owns 363,784 shares of the company’s stock worth $5,271,000 after acquiring an additional 183,252 shares during the last quarter. XTX Topco Ltd purchased a new position in Bowlero in the second quarter worth approximately $411,000. Private Management Group Inc. lifted its stake in Bowlero by 2.5% in the second quarter. Private Management Group Inc. now owns 1,290,388 shares of the company’s stock worth $18,698,000 after acquiring an additional 32,076 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in Bowlero by 63.3% in the second quarter. Victory Capital Management Inc. now owns 29,264 shares of the company’s stock worth $424,000 after acquiring an additional 11,341 shares during the last quarter. Institutional investors and hedge funds 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.