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

Private Management Group Inc. boosted its position in Bowlero Corp. (NYSE:BOWL) by 2.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,290,388 shares of the company’s stock after buying an additional 32,076 shares during the period. Private Management Group Inc. owned approximately 0.87% of Bowlero worth $18,698,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. PNC Financial Services Group Inc. boosted its holdings in Bowlero by 47.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,800 shares of the company’s stock worth $110,000 after buying an additional 2,500 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Bowlero by 7.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,953 shares of the company’s stock worth $205,000 after acquiring an additional 978 shares in the last quarter. Diversified Trust Co grew its position in shares of Bowlero by 39.4% during the 1st quarter. Diversified Trust Co now owns 23,700 shares of the company’s stock valued at $325,000 after acquiring an additional 6,700 shares during the period. Summit Securities Group LLC purchased a new position in shares of Bowlero in the 2nd quarter valued at about $392,000. Finally, Victory Capital Management Inc. increased its stake in shares of Bowlero by 63.3% in the 2nd quarter. Victory Capital Management Inc. now owns 29,264 shares of the company’s stock valued at $424,000 after purchasing an additional 11,341 shares in the last quarter. Institutional investors and hedge funds own 68.11% of the company’s stock.

Insider Buying and Selling

In other Bowlero news, Director Michelle D. Wilson sold 65,829 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $12.90, for a total transaction of $849,194.10. Following the sale, the director now owns 848,471 shares of the company’s stock, valued at $10,945,275.90. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Bowlero news, Director Michelle D. Wilson sold 65,829 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $12.90, for a total transaction of $849,194.10. Following the transaction, the director now owns 848,471 shares of the company’s stock, valued at $10,945,275.90. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Michelle D. Wilson sold 39,309 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $13.98, for a total value of $549,539.82. Following the completion of the sale, the director now directly owns 958,162 shares of the company’s stock, valued at $13,395,104.76. The disclosure for this sale can be found here. 56.54% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Separately, B. Riley reissued a “buy” rating and set a $17.00 target price on shares of Bowlero in a research note on Tuesday, September 3rd. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $16.57.

Bowlero Trading Up 6.6 %

Bowlero stock opened at $11.50 on Monday. The company has a fifty day simple moving average of $12.36 and a 200-day simple moving average of $12.59. The stock has a market cap of $1.71 billion, a P/E ratio of 21.70 and a beta of 0.60. Bowlero Corp. has a 12-month low of $8.85 and a 12-month high of $15.47.

Bowlero Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 23rd were issued a $0.055 dividend. The ex-dividend date was Friday, August 23rd. This represents a $0.22 dividend on an annualized basis and a dividend yield of 1.91%. Bowlero’s payout ratio is currently 41.51%.

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.