Allspring Global Investments Holdings LLC reduced its holdings in Bowlero Corp. (NYSE:BOWL – Get Rating) by 97.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,269 shares of the company’s stock after selling 110,667 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Bowlero were worth $40,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. purchased a new position in shares of Bowlero in the first quarter worth approximately $26,555,000. State Street Corp increased its position in shares of Bowlero by 452.1% in the second quarter. State Street Corp now owns 602,105 shares of the company’s stock worth $6,376,000 after acquiring an additional 493,043 shares in the last quarter. BlackRock Inc. purchased a new position in shares of Bowlero in the first quarter worth approximately $5,168,000. Apollo Management Holdings L.P. boosted its holdings in shares of Bowlero by 3.7% during the second quarter. Apollo Management Holdings L.P. now owns 9,455,680 shares of the company’s stock worth $100,136,000 after purchasing an additional 337,482 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of Bowlero by 395.2% during the second quarter. Northern Trust Corp now owns 338,702 shares of the company’s stock worth $3,587,000 after purchasing an additional 270,300 shares during the period. 64.88% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In related news, CEO Thomas F. Shannon sold 116,454 shares of the firm’s stock in a transaction that occurred on Monday, January 9th. The shares were sold at an average price of $13.82, for a total transaction of $1,609,394.28. Following the completion of the sale, the chief executive officer now directly owns 2,273,343 shares in the company, valued at $31,417,600.26. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Thomas F. Shannon sold 10,203 shares of the company’s stock in a transaction on Friday, January 6th. The shares were sold at an average price of $13.75, for a total value of $140,291.25. Following the completion of the sale, the chief executive officer now directly owns 2,389,797 shares in the company, valued at $32,859,708.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas F. Shannon sold 116,454 shares of the stock in a transaction on Monday, January 9th. The stock was sold at an average price of $13.82, for a total transaction of $1,609,394.28. Following the transaction, the chief executive officer now directly owns 2,273,343 shares in the company, valued at $31,417,600.26. The disclosure for this sale can be found here. Over the last three months, insiders sold 526,710 shares of company stock worth $7,459,666. 53.65% of the stock is owned by company insiders.
Bowlero Stock Performance
BOWL stock opened at $13.90 on Thursday. The stock has a market cap of $2.30 billion, a P/E ratio of -24.39 and a beta of 0.25. The firm has a 50 day simple moving average of $13.44 and a 200 day simple moving average of $13.01. Bowlero Corp. has a 52 week low of $6.96 and a 52 week high of $15.28.
Bowlero (NYSE:BOWL – Get Rating) last posted its quarterly earnings results on Wednesday, November 16th. The company reported $0.03 EPS for the quarter, hitting the consensus estimate of $0.03. The business had revenue of $230.26 million during the quarter, compared to analysts’ expectations of $222.35 million. Bowlero had a negative net margin of 8.22% and a negative return on equity of 157.07%. Sell-side analysts predict that Bowlero Corp. will post 0.73 EPS for the current year.
Bowlero Company 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. As of July 3, 2022, it operated approximately 317 centers in the United States, Mexico, and Canada.