Insider Buying: Bowlero Corp. (NYSE:BOWL) CFO Buys $98,584.65 in Stock

Bowlero Corp. (NYSE:BOWL – Get Rating) CFO Robert M. Lavan acquired 8,595 shares of the business’s stock in a transaction that occurred on Friday, May 19th. The stock was acquired at an average cost of $11.47 per share, with a total value of $98,584.65. Following the completion of the acquisition, the chief financial officer now owns 8,595 shares in the company, valued at approximately $98,584.65. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Bowlero Trading Down 1.8 %

NYSE:BOWL opened at $11.50 on Monday. The company’s 50 day moving average price is $14.88 and its 200-day moving average price is $14.32. Bowlero Corp. has a 52 week low of $8.71 and a 52 week high of $17.45. The company has a quick ratio of 0.92, a current ratio of 1.37 and a debt-to-equity ratio of 14.60. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of -27.38 and a beta of 0.20.

Bowlero (NYSE:BOWL – Get Rating) last issued its quarterly earnings data on Wednesday, May 17th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.01). Bowlero had a negative net margin of 5.26% and a negative return on equity of 1,325.87%. The company had revenue of $315.73 million for the quarter, compared to the consensus estimate of $302.34 million. During the same quarter last year, the company earned $0.30 EPS. On average, equities research analysts forecast that Bowlero Corp. will post 0.46 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on BOWL. Canaccord Genuity Group assumed 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. TheStreet lowered shares of Bowlero from a “c-” rating to a “d+” rating in a research report on Thursday. Jefferies Financial Group began coverage on shares of Bowlero in a research note on Wednesday, April 19th. They issued a “buy” rating and a $23.00 price target for the company. Craig Hallum initiated coverage on shares of Bowlero in a research note on Friday, February 24th. They issued a “buy” rating for the company. Finally, JPMorgan Chase & Co. upped their price objective on shares of Bowlero from $18.00 to $20.00 in a research note on Friday, March 17th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, Bowlero presently has a consensus rating of “Buy” and a consensus price target of $20.75.

Hedge Funds Weigh In On Bowlero

A number of institutional investors and hedge funds have recently made changes to their positions in BOWL. FMR LLC boosted its stake in shares of Bowlero by 159.0% during the 1st quarter. FMR LLC now owns 9,668,584 shares of the company’s stock worth $163,882,000 after purchasing an additional 5,935,535 shares during the period. Hood River Capital Management LLC bought a new stake in shares of Bowlero in the 1st quarter valued at about $46,324,000. Vanguard Group Inc. bought a new stake in shares of Bowlero in the 1st quarter valued at about $26,555,000. Two Sigma Investments LP raised its holdings in shares of Bowlero by 314.2% in the 1st quarter. Two Sigma Investments LP now owns 1,827,165 shares of the company’s stock valued at $30,970,000 after purchasing an additional 1,386,087 shares in the last quarter. Finally, Boston Partners raised its stake in shares of Bowlero by 2,186.9% during the 1st quarter. Boston Partners now owns 1,378,446 shares of the company’s stock worth $22,941,000 after acquiring an additional 1,318,170 shares in the last quarter. 64.88% of the stock is owned by hedge funds and other institutional investors.

Bowlero Company Profile

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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.