Bowlero (NYSE:BOWL) Earns Buy Rating from B. Riley

B. Riley reiterated their buy rating on shares of Bowlero (NYSE:BOWL) in a research note published on Tuesday, Benzinga reports. The firm currently has a $17.00 target price on the stock.

Several other research firms have also commented on BOWL. Roth Mkm lowered their target price on Bowlero from $17.00 to $15.00 and set a buy rating for the company in a report on Tuesday, May 7th. CJS Securities reaffirmed a market perform rating on shares of Bowlero in a report on Tuesday, May 7th. Canaccord Genuity Group lowered their target price on Bowlero from $20.00 to $18.00 and set a buy rating for the company in a report on Tuesday, May 7th. Craig Hallum upped their target price on Bowlero from $17.00 to $18.00 and gave the company a buy rating in a report on Tuesday, May 7th. Finally, JPMorgan Chase & Co. lowered their target price on Bowlero from $17.00 to $16.00 and set an overweight rating for the company in a report on Friday, May 3rd. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Bowlero currently has a consensus rating of Moderate Buy and an average target price of $16.57.

Bowlero Trading Up 3.0 %

Shares of NYSE BOWL opened at $14.64 on Tuesday. The stock’s 50 day moving average price is $12.47 and its two-hundred day moving average price is $12.70. Bowlero has a 52-week low of $8.85 and a 52-week high of $15.47. The stock has a market capitalization of $2.18 billion, a P/E ratio of 27.62 and a beta of 0.58. The company has a quick ratio of 1.21, a current ratio of 1.29 and a debt-to-equity ratio of 46.80.

Bowlero (NYSE:BOWL) last announced its quarterly earnings data on Monday, May 6th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.11). The firm had revenue of $337.67 million for the quarter, compared to analyst estimates of $341.45 million. Bowlero had a net margin of 11.24% and a return on equity of 330.46%. On average, analysts anticipate that Bowlero will post 0.04 earnings per share for the current fiscal year.

Bowlero Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Friday, May 24th were issued a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend was Thursday, May 23rd. Bowlero’s dividend payout ratio (DPR) is 41.51%.

Insider Buying and Selling

In related news, Director Michelle D. Wilson sold 65,829 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $12.90, for a total value of $849,194.10. Following the completion of the transaction, the director now directly owns 848,471 shares of the company’s stock, valued at approximately $10,945,275.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Bowlero news, Director Michelle D. Wilson sold 65,829 shares of the stock in a transaction on Friday, June 14th. The stock was sold at an average price of $12.90, for a total transaction of $849,194.10. Following the completion of the transaction, the director now directly owns 848,471 shares of the company’s stock, valued at approximately $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 stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $13.98, for a total value of $549,539.82. Following the transaction, 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. Corporate insiders own 56.54% of the company’s stock.

Hedge Funds Weigh In On Bowlero

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Swiss National Bank lifted its position in shares of Bowlero by 19.4% during the 3rd quarter. Swiss National Bank now owns 99,000 shares of the company’s stock valued at $952,000 after acquiring an additional 16,100 shares during the last quarter. Primecap Management Co. CA acquired a new stake in shares of Bowlero during the 3rd quarter valued at $3,145,000. Teza Capital Management LLC lifted its position in shares of Bowlero by 208.0% during the 3rd quarter. Teza Capital Management LLC now owns 73,802 shares of the company’s stock valued at $710,000 after acquiring an additional 49,844 shares during the last quarter. Cadian Capital Management LP acquired a new stake in shares of Bowlero during the 3rd quarter valued at $4,810,000. Finally, Kent Lake Capital LLC lifted its position in shares of Bowlero by 500.0% during the 3rd quarter. Kent Lake Capital LLC now owns 600,000 shares of the company’s stock valued at $5,772,000 after acquiring an additional 500,000 shares during the last quarter. 68.11% of the stock is owned by institutional investors.

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. It operates bowling centers in the United States, Mexico, and Canada.