Bowlero (NYSE:BOWL) Shares Gap Down to $15.94

Bowlero Corp. (NYSE:BOWL – Get Rating)’s share price gapped down before the market opened on Friday . The stock had previously closed at $15.94, but opened at $15.00. Bowlero shares last traded at $15.14, with a volume of 507,964 shares trading hands.

Analysts Set New Price Targets

BOWL has been the subject of a number of research reports. Craig Hallum initiated coverage on shares of Bowlero in a research report on Friday, February 24th. They set a “buy” rating for the company. Oppenheimer increased their target price on shares of Bowlero from $16.00 to $18.50 and gave the company an “outperform” rating in a research report on Wednesday, March 1st. Roth Capital reaffirmed a “buy” rating on shares of Bowlero in a report on Monday, February 6th. Canaccord Genuity Group began coverage on shares of Bowlero in a report on Wednesday, March 8th. They issued a “buy” rating and a $22.00 price objective for the company. Finally, JPMorgan Chase & Co. raised their price objective on shares of Bowlero from $18.00 to $20.00 in a report on Friday. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Bowlero has a consensus rating of “Buy” and an average price target of $19.38.

Bowlero Trading Down 5.3 %

The company’s fifty day simple moving average is $14.77 and its 200 day simple moving average is $13.80. The stock has a market capitalization of $2.50 billion, a P/E ratio of -45.73 and a beta of 0.20.

Bowlero (NYSE:BOWL – Get Rating) last announced its quarterly earnings results on Wednesday, February 15th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.05). Bowlero had a negative net margin of 4.19% and a negative return on equity of 288.06%. The firm had revenue of $273.39 million during the quarter, compared to the consensus estimate of $259.15 million. Equities research analysts predict that Bowlero Corp. will post 0.52 earnings per share for the current year.

Insider Buying and Selling at Bowlero

In other news, CEO Thomas F. Shannon sold 10,203 shares of the firm’s stock in a transaction on Friday, January 6th. The shares were sold at an average price of $13.75, for a total transaction of $140,291.25. Following the sale, the chief executive officer now owns 2,389,797 shares in the company, valued at approximately $32,859,708.75. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Thomas F. Shannon sold 18,045 shares of the firm’s stock in a transaction on Wednesday, January 11th. The shares were sold at an average price of $13.76, for a total transaction of $248,299.20. Following the sale, the chief executive officer now owns 2,185,573 shares in the company, valued at approximately $30,073,484.48. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Thomas F. Shannon sold 10,203 shares of Bowlero stock in a transaction on Friday, January 6th. The stock was sold at an average price of $13.75, for a total transaction of $140,291.25. Following the completion of the transaction, the chief executive officer now owns 2,389,797 shares in the company, valued at approximately $32,859,708.75. The disclosure for this sale can be found here. Insiders sold a total of 1,205,298 shares of company stock valued at $17,914,898 in the last three months. Company insiders own 53.65% of the company’s stock.

Hedge Funds Weigh In On Bowlero

A number of large investors have recently added to or reduced their stakes in BOWL. Bank of New York Mellon Corp purchased a new position in Bowlero in the 1st quarter worth $1,548,000. Citigroup Inc. purchased a new position in Bowlero in the 1st quarter worth $100,000. BlackRock Inc. purchased a new position in Bowlero in the 1st quarter worth $5,168,000. Dakota Wealth Management bought a new stake in Bowlero in the 1st quarter worth $213,000. Finally, Vanguard Group Inc. bought a new stake in Bowlero in the 1st quarter worth $26,555,000. Hedge funds and other institutional investors own 64.88% of the company’s stock.

Bowlero Company Profile

(Get Rating)

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.