Bowlero Corp. (NYSE:BOWL) CEO Thomas F. Shannon Sells 70,973 Shares

Bowlero Corp. (NYSE:BOWL – Get Rating) CEO Thomas F. Shannon sold 70,973 shares of the stock in a transaction on Friday, January 13th. The stock was sold at an average price of $14.14, for a total value of $1,003,558.22. Following the sale, the chief executive officer now directly owns 1,621,918 shares of the company’s stock, valued at $22,933,920.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Bowlero Price Performance

Shares of NYSE:BOWL opened at $13.75 on Friday. The firm has a market capitalization of $2.28 billion, a price-to-earnings ratio of -24.12 and a beta of 0.25. The business’s 50 day simple moving average is $13.39 and its 200-day simple moving average is $12.83. Bowlero Corp. has a 12 month low of $6.96 and a 12 month high of $15.28.

Bowlero (NYSE:BOWL – Get Rating) last posted its earnings results on Wednesday, November 16th. The company reported $0.03 earnings per share for the quarter, meeting the consensus estimate of $0.03. The company had revenue of $230.26 million for the quarter, compared to analyst estimates of $222.35 million. Bowlero had a negative return on equity of 157.07% and a negative net margin of 8.22%. On average, equities analysts anticipate that Bowlero Corp. will post 0.73 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Arizona State Retirement System raised its stake in shares of Bowlero by 8.1% during the 3rd quarter. Arizona State Retirement System now owns 10,981 shares of the company’s stock worth $135,000 after buying an additional 826 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Bowlero by 42.6% during 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 during the last quarter. California State Teachers Retirement System raised its stake in Bowlero by 3.5% in the 3rd quarter. California State Teachers Retirement System now owns 50,941 shares of the company’s stock valued at $627,000 after purchasing an additional 1,705 shares during the last quarter. Engineers Gate Manager LP raised its stake in Bowlero by 2.6% in the 3rd quarter. Engineers Gate Manager LP now owns 75,208 shares of the company’s stock valued at $926,000 after purchasing an additional 1,931 shares during the last quarter. Finally, Point72 Hong Kong Ltd acquired a new position in Bowlero in the 3rd quarter valued at about $37,000. Institutional investors and hedge funds own 64.88% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Oppenheimer began coverage on shares of Bowlero in a research report on Monday, October 3rd. They set an “outperform” rating and a $16.00 target price on the stock.

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.