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

Bowlero Corp. (NYSE:BOWL) gapped down before the market opened 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 changing hands.

Analyst Ratings Changes

A number of research firms have issued reports on BOWL. Roth Mkm decreased their target price on Bowlero from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Tuesday, May 7th. Craig Hallum lifted their price objective on Bowlero from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. Oppenheimer dropped their price objective on shares of Bowlero from $18.00 to $15.00 and set an “outperform” rating on the stock in a report on Tuesday, May 7th. CJS Securities reiterated a “market perform” rating on shares of Bowlero in a research report on Tuesday, May 7th. Finally, Canaccord Genuity Group lowered their price target on shares of Bowlero from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday, May 7th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.57.

Bowlero Trading Up 1.7 %

The business has a fifty day moving average of $12.73 and a 200-day moving average of $12.79. The firm has a market cap of $2.14 billion, a PE ratio of 26.66 and a beta of 0.62.

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

Bowlero Dividend Announcement

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

Insider Buying and Selling

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

Institutional Investors Weigh In On Bowlero

Several hedge funds have recently added to or reduced their stakes in BOWL. Parkside Financial Bank & Trust raised its stake in shares of Bowlero by 35.7% during the fourth 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 in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Bowlero by 2,940.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 6,568 shares of the company’s stock valued at $93,000 after purchasing an additional 6,352 shares during the last quarter. PNC Financial Services Group Inc. raised its position in 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 during the period. Quent Capital LLC bought a new stake in Bowlero in the fourth quarter worth $198,000. Finally, Price T Rowe Associates Inc. MD boosted its position in Bowlero by 7.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,953 shares of the company’s stock valued at $205,000 after buying an additional 978 shares during the period. Institutional investors own 68.11% of the company’s stock.

About Bowlero

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.