Bowlero Corp. (NYSE:BOWL) Stake Increased by Spire Wealth Management

Spire Wealth Management increased its stake in Bowlero Corp. (NYSE:BOWL) by 506.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 43,035 shares of the company’s stock after buying an additional 35,935 shares during the period. Spire Wealth Management’s holdings in Bowlero were worth $501,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. US Bancorp DE bought a new stake in Bowlero during the first quarter valued at $35,000. Tower Research Capital LLC TRC increased its stake in Bowlero by 42.6% during the third quarter. Tower Research Capital LLC TRC now owns 3,049 shares of the company’s stock valued at $38,000 after purchasing an additional 911 shares during the last quarter. Advisor Group Holdings Inc. increased its stake in Bowlero by 122.9% during the fourth quarter. Advisor Group Holdings Inc. now owns 5,350 shares of the company’s stock valued at $72,000 after purchasing an additional 2,950 shares during the last quarter. Quantbot Technologies LP bought a new stake in Bowlero during the second quarter valued at $72,000. Finally, Allspring Global Investments Holdings LLC increased its stake in Bowlero by 23.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 7,106 shares of the company’s stock valued at $83,000 after purchasing an additional 1,354 shares during the last quarter.

Analyst Ratings Changes

Several research firms have recently commented on BOWL. Stifel Nicolaus lowered their price target on shares of Bowlero from $25.00 to $23.00 and set a “buy” rating for the company in a research report on Tuesday, September 12th. B. Riley restated a “buy” rating and set a $18.00 price target on shares of Bowlero in a research report on Tuesday, September 12th. Roth Mkm restated a “buy” rating and set a $17.00 price target on shares of Bowlero in a research report on Wednesday, September 13th. Oppenheimer reduced their price objective on shares of Bowlero from $19.00 to $16.00 and set an “outperform” rating for the company in a report on Thursday, August 24th. Finally, Canaccord Genuity Group reduced their price objective on shares of Bowlero from $22.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, September 12th. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $19.00.

Insiders Place Their Bets

In related news, CFO Robert M. Lavan acquired 10,000 shares of the business’s stock in a transaction on Tuesday, September 12th. The shares were purchased at an average price of $9.95 per share, for a total transaction of $99,500.00. Following the acquisition, the chief financial officer now owns 27,162 shares in the company, valued at $270,261.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Bowlero news, Director John Alan Young bought 4,900 shares of the company’s stock in a transaction dated Thursday, September 14th. The shares were bought at an average price of $10.26 per share, for a total transaction of $50,274.00. Following the acquisition, the director now directly owns 44,768 shares of the company’s stock, valued at $459,319.68. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Robert M. Lavan bought 10,000 shares of the company’s stock in a transaction dated Tuesday, September 12th. The stock was acquired at an average price of $9.95 per share, for a total transaction of $99,500.00. Following the acquisition, the chief financial officer now directly owns 27,162 shares in the company, valued at $270,261.90. The disclosure for this purchase can be found here. Corporate insiders own 56.54% of the company’s stock.

Bowlero Price Performance

Shares of NYSE BOWL opened at $10.70 on Friday. Bowlero Corp. has a twelve month low of $8.85 and a twelve month high of $17.45. The company has a current ratio of 0.41, a quick ratio of 0.34 and a debt-to-equity ratio of 46.80. The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of 17.54 and a beta of 0.29. The firm has a 50-day moving average of $10.43 and a two-hundred day moving average of $11.33.

Bowlero (NYSE:BOWL) last issued its quarterly earnings results on Monday, September 11th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.10). Bowlero had a net margin of 12.67% and a return on equity of 134.05%. The business had revenue of $239.42 million during the quarter, compared to analyst estimates of $240.04 million. As a group, analysts expect that Bowlero Corp. will post 0.3 earnings per share for the current fiscal year.

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.