Bowlero (NYSE:BOWL) Trading Down 3.7% – Time to Sell?

Bowlero Corp. (NYSE:BOWL) fell 3.7% during trading on Tuesday . The company traded as low as $11.36 and last traded at $11.36. 41,994 shares traded hands during trading, a decline of 95% from the average session volume of 810,039 shares. The stock had previously closed at $11.80.

Wall Street Analyst Weigh In

A number of research firms have commented on BOWL. JPMorgan Chase & Co. reduced their price objective on shares of Bowlero from $16.00 to $15.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. B. Riley restated a “buy” rating and issued a $17.00 price target on shares of Bowlero in a research report on Tuesday, September 3rd. Canaccord Genuity Group restated a “buy” rating and issued a $18.00 price target on shares of Bowlero in a research report on Monday, September 30th. Piper Sandler started coverage on shares of Bowlero in a research report on Monday, October 28th. They issued a “neutral” rating and a $12.00 price target on the stock. Finally, Royal Bank of Canada upgraded shares of Bowlero to a “moderate buy” rating in a research report on Thursday, October 3rd. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Bowlero currently has an average rating of “Moderate Buy” and an average price target of $15.88.

Bowlero Price Performance

The company’s 50-day moving average is $11.60 and its two-hundred day moving average is $12.16.

Bowlero (NYSE:BOWL) last released its earnings results on Monday, November 4th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of ($0.17) by $0.30. The firm had revenue of $260.20 million for the quarter, compared to analysts’ expectations of $249.42 million. Bowlero had a negative net margin of 6.63% and a negative return on equity of 31.58%. During the same quarter last year, the company earned ($0.10) EPS. On average, equities analysts predict that Bowlero Corp. will post 0.45 earnings per share for the current year.

Bowlero Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be paid a dividend of $0.055 per share. The ex-dividend date is Friday, November 22nd. This represents a $0.22 annualized dividend and a yield of 1.90%. Bowlero’s payout ratio is -36.06%.

Hedge Funds Weigh In On Bowlero

Hedge funds have recently made changes to their positions in the business. Barclays PLC grew its stake in shares of Bowlero by 22.6% in the 3rd quarter. Barclays PLC now owns 7,807 shares of the company’s stock worth $91,000 after purchasing an additional 1,439 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Bowlero by 7.0% in 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. Centiva Capital LP purchased a new position in shares of Bowlero in the third quarter worth approximately $207,000. Summit Securities Group LLC purchased a new position in shares of Bowlero in the second quarter worth approximately $392,000. Finally, XTX Topco Ltd purchased a new position in shares of Bowlero in the second quarter worth approximately $411,000. Institutional investors and hedge funds own 68.11% of the company’s stock.

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.