Lazard Asset Management LLC Makes New $143,000 Investment in Bowlero Corp. (NYSE:BOWL)

Posted by Defense World Staff on Mar 5th, 2023

Lazard Asset Management LLC bought a new position in shares of Bowlero Corp. (NYSE:BOWL – Get Rating) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 11,651 shares of the company’s stock, valued at approximately $143,000.

A number of other institutional investors have also made changes to their positions in the business. Arizona State Retirement System increased its holdings in shares of Bowlero by 8.1% during the 3rd quarter. Arizona State Retirement System now owns 10,981 shares of the company’s stock worth $135,000 after acquiring an additional 826 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Bowlero by 42.6% during the 3rd quarter. Tower Research Capital LLC TRC now owns 3,049 shares of the company’s stock worth $38,000 after acquiring an additional 911 shares during the last quarter. Paragon Wealth Strategies LLC acquired a new position in shares of Bowlero during the 3rd quarter worth approximately $41,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Bowlero by 26.0% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 18,012 shares of the company’s stock worth $191,000 after acquiring an additional 3,712 shares during the last quarter. Finally, Credit Suisse AG increased its holdings in shares of Bowlero by 18.4% during the 3rd quarter. Credit Suisse AG now owns 24,588 shares of the company’s stock worth $303,000 after acquiring an additional 3,823 shares during the last quarter. 64.88% of the stock is owned by institutional investors and hedge funds.

Bowlero Price Performance

Shares of NYSE BOWL opened at $16.25 on Friday. The stock’s fifty day moving average price is $14.22 and its two-hundred day moving average price is $13.48. The firm has a market cap of $2.69 billion, a price-to-earnings ratio of -49.24 and a beta of 0.20. Bowlero Corp. has a one year low of $8.19 and a one year high of $16.25.

Insider Activity

In other news, CFO Brett I. Parker sold 2,390 shares of the company’s stock in a transaction on Tuesday, February 28th. The stock was sold at an average price of $16.00, for a total transaction of $38,240.00. Following the completion of the sale, the chief financial officer now directly owns 2,047,799 shares in the company, valued at approximately $32,764,784. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Thomas F. Shannon sold 230,482 shares of the company’s stock in a transaction on Wednesday, February 15th. The stock was sold at an average price of $14.87, for a total transaction of $3,427,267.34. Following the completion of the sale, the chief executive officer now directly owns 769,518 shares in the company, valued at approximately $11,442,732.66. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Brett I. Parker sold 2,390 shares of the company’s stock in a transaction on Tuesday, February 28th. The shares were sold at an average price of $16.00, for a total value of $38,240.00. Following the sale, the chief financial officer now owns 2,047,799 shares of the company’s stock, valued at $32,764,784. The disclosure for this sale can be found here. In the last three months, insiders sold 915,300 shares of company stock worth $13,223,644. 53.65% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

BOWL has been the topic of a number of research reports. Oppenheimer upped their price objective on Bowlero from $16.00 to $18.50 and gave the company an “outperform” rating in a report on Wednesday. Craig Hallum initiated coverage on Bowlero in a report on Friday, February 24th. They issued a “buy” rating on the stock. Finally, Roth Capital reaffirmed a “buy” rating on shares of Bowlero in a report on Monday, February 6th.

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.