Bowlero (NYSE:BOWL) Trading Down 3.7% – What’s Next?

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

Wall Street Analysts Forecast Growth

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

Bowlero Price Performance

The stock’s fifty day moving average is $11.57 and its 200-day moving average is $12.17.

Bowlero (NYSE:BOWL) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.30. Bowlero had a negative net margin of 6.63% and a negative return on equity of 31.58%. The business had revenue of $260.20 million during the quarter, compared to analysts’ expectations of $249.42 million. During the same quarter in the prior year, the company posted ($0.10) EPS. As a group, research analysts expect that Bowlero Corp. will post 0.45 EPS for the current fiscal year.

Bowlero Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be issued a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date is Friday, November 22nd. Bowlero’s dividend payout ratio is presently -36.06%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Boston Partners raised its stake in shares of Bowlero by 6.0% in the 1st quarter. Boston Partners now owns 3,646,113 shares of the company’s stock valued at $49,004,000 after acquiring an additional 205,902 shares during the period. Private Management Group Inc. raised its position in Bowlero by 2.5% in the second quarter. Private Management Group Inc. now owns 1,290,388 shares of the company’s stock valued at $18,698,000 after purchasing an additional 32,076 shares during the period. Systematic Financial Management LP lifted its stake in Bowlero by 24.0% during the third quarter. Systematic Financial Management LP now owns 838,090 shares of the company’s stock worth $9,839,000 after purchasing an additional 161,951 shares in the last quarter. Portolan Capital Management LLC purchased a new position in shares of Bowlero during the third quarter worth $8,281,000. Finally, Marshall Wace LLP raised its holdings in shares of Bowlero by 101.5% in the 2nd quarter. Marshall Wace LLP now owns 363,784 shares of the company’s stock valued at $5,271,000 after buying an additional 183,252 shares during the period. 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.