Brett I. Parker Sells 32,728 Shares of Bowlero Corp. (NYSE:BOWL) Stock

Bowlero Corp. (NYSE:BOWL – Get Rating) CFO Brett I. Parker sold 32,728 shares of the company’s stock in a transaction dated Tuesday, March 7th. The shares were sold at an average price of $16.50, for a total transaction of $540,012.00. Following the sale, the chief financial officer now directly owns 1,764,147 shares in the company, valued at $29,108,425.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Bowlero Price Performance

Shares of BOWL opened at $16.19 on Friday. The firm’s 50 day simple moving average is $14.55 and its 200 day simple moving average is $13.63. The company has a market capitalization of $2.68 billion, a P/E ratio of -49.06 and a beta of 0.20. Bowlero Corp. has a 1-year low of $8.19 and a 1-year high of $17.45.

Institutional Investors Weigh In On Bowlero

Institutional investors and hedge funds have recently bought and sold shares of the stock. Point72 Hong Kong Ltd purchased a new stake in Bowlero in the third quarter valued at approximately $37,000. Tower Research Capital LLC TRC raised its stake in Bowlero by 42.6% in 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 in the last quarter. Paragon Wealth Strategies LLC purchased a new stake in Bowlero in the third quarter valued at approximately $41,000. Neo Ivy Capital Management purchased a new stake in Bowlero in the third quarter valued at approximately $44,000. Finally, HBK Sorce Advisory LLC purchased a new stake in Bowlero in the third quarter valued at approximately $47,000. 64.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on BOWL shares. Canaccord Genuity Group started coverage on shares of Bowlero in a report on Wednesday. They set a “buy” rating and a $22.00 price objective on the stock. Roth Capital reissued a “buy” rating on shares of Bowlero in a report on Monday, February 6th. Oppenheimer increased their price target on shares of Bowlero from $16.00 to $18.50 and gave the stock an “outperform” rating in a report on Wednesday, March 1st. Finally, Craig Hallum started coverage on shares of Bowlero in a report on Friday, February 24th. They issued a “buy” rating on the stock. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $18.88.

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.