B. Riley Reaffirms Buy Rating for Bowlero (NYSE:BOWL)

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

A number of other research firms also recently commented on BOWL. Canaccord Genuity Group reduced their price objective on shares of Bowlero from $20.00 to $18.00 and set a buy rating for the company in a research note on Tuesday, May 7th. Oppenheimer reduced their price objective on shares of Bowlero from $18.00 to $15.00 and set an outperform rating for the company in a research note on Tuesday, May 7th. Stifel Nicolaus reduced their price objective on shares of Bowlero from $19.00 to $17.00 and set a buy rating for the company in a research note on Tuesday, May 7th. Roth Mkm cut their target price on shares of Bowlero from $17.00 to $15.00 and set a buy rating for the company in a research note on Tuesday, May 7th. Finally, CJS Securities reiterated a market perform rating on shares of Bowlero in a research note on Tuesday, May 7th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $16.57.

Bowlero Trading Up 6.6 %

BOWL stock opened at $11.50 on Tuesday. The stock has a 50-day moving average price of $12.36 and a two-hundred day moving average price of $12.59. The stock has a market cap of $1.71 billion, a PE ratio of 21.70 and a beta of 0.59. Bowlero has a 1 year low of $8.85 and a 1 year high of $15.47.

Bowlero Announces Dividend

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

Insiders Place Their Bets

In other Bowlero news, Director Michelle D. Wilson sold 65,829 shares of the business’s stock in a transaction 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 legal filing with the SEC, which is accessible through this link. In other news, Director Michelle D. Wilson sold 65,829 shares of Bowlero stock in a transaction 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 transaction, the director now owns 848,471 shares in the company, valued at $10,945,275.90. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Michelle D. Wilson sold 39,309 shares of the business’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $13.98, for a total transaction of $549,539.82. Following the completion of the transaction, the director now owns 958,162 shares in the company, valued at approximately $13,395,104.76. The disclosure for this sale can be found here. Insiders own 56.54% of the company’s stock.

Institutional Investors Weigh In On Bowlero

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. increased its position in shares of 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 acquiring an additional 2,500 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Bowlero by 7.0% during the first 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 increased its position in shares of Bowlero by 39.4% during the first quarter. Diversified Trust Co now owns 23,700 shares of the company’s stock worth $325,000 after acquiring an additional 6,700 shares in the last quarter. Summit Securities Group LLC bought a new stake in shares of Bowlero during the second quarter worth about $392,000. Finally, XTX Topco Ltd bought a new stake in shares of Bowlero during the second quarter worth about $411,000. 68.11% of the stock is owned by institutional investors.

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.