Bowlero Corp. (NYSE:BOWL – Get Rating) CFO Brett I. Parker sold 32,610 shares of the stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $16.00, for a total value of $521,760.00. Following the sale, the chief financial officer now owns 1,799,147 shares in the company, valued at $28,786,352. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Bowlero Price Performance
BOWL stock traded down $0.01 on Monday, reaching $16.24. The company's stock had a trading volume of 1,970,217 shares, compared to its average volume of 1,219,615. Bowlero Corp. has a 52 week low of $8.19 and a 52 week high of $16.52. The company has a market capitalization of $2.69 billion, a P/E ratio of -49.21 and a beta of 0.20. The firm has a fifty day moving average of $14.28 and a two-hundred day moving average of $13.52.
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Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on the company. Craig Hallum assumed coverage on Bowlero in a research report on Friday, February 24th. They set a "buy" rating on the stock. Oppenheimer increased their price target on Bowlero from $16.00 to $18.50 and gave the stock an "outperform" rating in a research report on Wednesday, March 1st. Finally, Roth Capital reiterated a "buy" rating on shares of Bowlero in a research report on Monday, February 6th.
Hedge Funds Weigh In On Bowlero
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd bought a new position in Bowlero in the 3rd quarter worth approximately $37,000. Tower Research Capital LLC TRC grew its holdings in Bowlero by 42.6% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,049 shares of the company's stock worth $38,000 after buying an additional 911 shares in the last quarter. Paragon Wealth Strategies LLC bought a new position in Bowlero in the 3rd quarter worth approximately $41,000. Neo Ivy Capital Management bought a new position in Bowlero during the 3rd quarter valued at $44,000. Finally, Spire Wealth Management bought a new position in Bowlero during the 4th quarter valued at $57,000. 64.88% of the stock is owned by institutional investors.
About Bowlero
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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.
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