Bowlero’s (BOWL) Buy Rating Reiterated at B. Riley

B. Riley reissued their buy rating on shares of Bowlero (NYSE:BOWL) in a research report sent to investors on Tuesday, Benzinga reports. B. Riley currently has a $17.00 price target on the stock.

Several other equities analysts have also recently issued reports on the company. Stifel Nicolaus decreased their price objective on Bowlero from $19.00 to $17.00 and set a buy rating for the company in a research note on Tuesday, May 7th. Canaccord Genuity Group decreased their target price on Bowlero from $20.00 to $18.00 and set a buy rating for the company in a research note on Tuesday, May 7th. Craig Hallum boosted their target price on Bowlero from $17.00 to $18.00 and gave the stock a buy rating in a research note on Tuesday, May 7th. JPMorgan Chase & Co. decreased their target price on Bowlero from $17.00 to $16.00 and set an overweight rating for the company in a research note on Friday, May 3rd. Finally, Oppenheimer decreased their target price on Bowlero from $18.00 to $15.00 and set an outperform rating for the company in a research note on Tuesday, May 7th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $16.57.

Bowlero Stock Performance

Shares of BOWL opened at $14.49 on Tuesday. The stock has a 50-day simple moving average of $12.52 and a 200-day simple moving average of $12.72. The company has a debt-to-equity ratio of 46.80, a quick ratio of 1.21 and a current ratio of 1.29. The stock has a market capitalization of $2.16 billion, a PE ratio of 27.34 and a beta of 0.58. Bowlero has a 1 year low of $8.85 and a 1 year high of $15.47.

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 company had revenue of $337.67 million during the quarter, compared to analysts’ expectations of $341.45 million. Bowlero had a net margin of 11.24% and a return on equity of 330.46%. On average, analysts predict that Bowlero will post 0.04 earnings per share for the current fiscal year.

Bowlero Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 24th were given a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend was Thursday, May 23rd. Bowlero’s dividend payout ratio (DPR) is 41.51%.

Insiders Place Their Bets

In other news, Director Michelle D. Wilson sold 65,829 shares of the business’s 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 transaction, 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 is available at the SEC website. In other news, Director Michelle D. Wilson sold 65,829 shares of the business’s 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 transaction, 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 is available at the SEC website. Also, Director Michelle D. Wilson sold 39,309 shares of the company’s stock in a transaction on Wednesday, June 12th. The stock was 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 in the company, valued at approximately $13,395,104.76. The disclosure for this sale can be found here. 56.54% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Cadian Capital Management LP purchased a new stake in Bowlero during the third quarter worth $4,810,000. Vanguard Group Inc. boosted its position in Bowlero by 4.8% during the third quarter. Vanguard Group Inc. now owns 4,229,231 shares of the company’s stock worth $40,685,000 after purchasing an additional 193,801 shares in the last quarter. Boston Partners lifted its position in shares of Bowlero by 7.4% in the fourth quarter. Boston Partners now owns 3,440,211 shares of the company’s stock valued at $47,632,000 after acquiring an additional 236,060 shares in the last quarter. Kennedy Capital Management LLC lifted its position in shares of Bowlero by 283.8% in the third quarter. Kennedy Capital Management LLC now owns 482,083 shares of the company’s stock valued at $4,638,000 after acquiring an additional 356,485 shares in the last quarter. Finally, Primecap Management Co. CA purchased a new stake in shares of Bowlero in the third quarter valued at $3,145,000. Institutional investors and hedge funds own 68.11% of the company’s stock.

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.