Bowlero Corp. (NYSE:BOWL) Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. boosted its stake in shares of Bowlero Corp. (NYSE:BOWL - Free Report) by 4.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,229,231 shares of the company's stock after acquiring an additional 193,801 shares during the period. Vanguard Group Inc. owned 2.80% of Bowlero worth $40,685,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Tower Research Capital LLC TRC grew its holdings in shares of Bowlero by 233.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,424 shares of the company's stock valued at $28,000 after purchasing an additional 1,696 shares in the last quarter. Parkside Financial Bank & Trust grew its stake in shares of Bowlero by 159.2% in the 2nd quarter. Parkside Financial Bank & Trust now owns 3,173 shares of the company's stock worth $37,000 after buying an additional 1,949 shares in the last quarter. PNC Financial Services Group Inc. bought a new stake in shares of Bowlero in the 3rd quarter worth about $51,000. Advisor Group Holdings Inc. raised its position in shares of Bowlero by 122.9% during the 4th quarter. Advisor Group Holdings Inc. now owns 5,350 shares of the company's stock valued at $72,000 after buying an additional 2,950 shares in the last quarter. Finally, Citigroup Inc. raised its position in shares of Bowlero by 439.2% during the 1st quarter. Citigroup Inc. now owns 6,309 shares of the company's stock valued at $107,000 after buying an additional 5,139 shares in the last quarter. Institutional investors own 68.11% of the company's stock.

Bowlero Trading Down 2.1 %

Shares of NYSE:BOWL traded down $0.27 during trading hours on Wednesday, hitting $12.70. 869,992 shares of the company's stock traded hands, compared to its average volume of 1,120,633. The firm has a market capitalization of $1.90 billion, a P/E ratio of 70.11 and a beta of 0.50. The business has a fifty day moving average price of $13.16 and a 200-day moving average price of $11.95. Bowlero Corp. has a 1 year low of $8.85 and a 1 year high of $16.20. The company has a debt-to-equity ratio of 46.80, a current ratio of 1.22 and a quick ratio of 1.14.

Bowlero (NYSE:BOWL - Get Free Report) last issued its quarterly earnings results on Monday, February 5th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.12 by ($0.13). The business had revenue of $305.67 million for the quarter, compared to the consensus estimate of $300.46 million. Bowlero had a return on equity of 98.75% and a net margin of 6.33%. Equities analysts expect that Bowlero Corp. will post 0.17 earnings per share for the current year.

Bowlero Dividend Announcement

The business also recently announced a Variable dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were paid a dividend of $0.055 per share. The ex-dividend date was Thursday, February 22nd. Bowlero's dividend payout ratio is currently 122.22%.

Wall Street Analyst Weigh In

Several research firms recently commented on BOWL. Oppenheimer lifted their price target on Bowlero from $16.00 to $18.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 14th. Roth Mkm lifted their target price on Bowlero from $14.00 to $17.00 and gave the stock a "buy" rating in a report on Tuesday, February 6th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Bowlero presently has a consensus rating of "Buy" and a consensus price target of $19.29.

Insider Buying and Selling

In related news, Director Michelle D. Wilson sold 87,267 shares of Bowlero stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $12.88, for a total transaction of $1,123,998.96. Following the completion of the sale, the director now owns 1,040,204 shares in the company, valued at approximately $13,397,827.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 56.54% of the stock is currently owned by insiders.

Bowlero Profile

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.