Bowlero (NYSE:BOWL) Trading Up 5.8% – Time to Buy?

Bowlero Corp. (NYSE:BOWL)’s share price was up 5.8% during mid-day trading on Tuesday . The stock traded as high as $12.47 and last traded at $12.42. Approximately 261,681 shares were traded during trading, a decline of 67% from the average daily volume of 795,285 shares. The stock had previously closed at $11.74.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BOWL. Royal Bank of Canada raised shares of Bowlero to a “moderate buy” rating in a research report on Thursday, October 3rd. Piper Sandler began coverage on shares of Bowlero in a research note on Monday, October 28th. They issued a “neutral” rating and a $12.00 price objective for the company. B. Riley restated a “buy” rating and set a $17.00 target price on shares of Bowlero in a report on Tuesday, September 3rd. Canaccord Genuity Group reiterated a “buy” rating and set a $18.00 price target on shares of Bowlero in a research note on Monday, September 30th. Finally, Truist Financial assumed coverage on Bowlero in a report on Tuesday. They issued a “buy” rating and a $16.00 target price for the company. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Bowlero has an average rating of “Moderate Buy” and an average target price of $15.89.

Bowlero Stock Up 3.2 %

The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of -19.25 and a beta of 0.69. The business has a fifty day simple moving average of $11.70 and a two-hundred day simple moving average of $12.20.

Bowlero (NYSE:BOWL) last posted its quarterly earnings data 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. The firm had revenue of $260.20 million during 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 posted ($0.10) EPS. As a group, equities analysts predict that Bowlero Corp. will post 0.45 earnings per share for the current fiscal year.

Bowlero Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 22nd were paid a $0.055 dividend. This represents a $0.22 annualized dividend and a yield of 1.82%. The ex-dividend date of this dividend was Friday, November 22nd. Bowlero’s payout ratio is -36.07%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Portolan Capital Management LLC bought a new stake in shares of Bowlero during the third quarter worth $8,281,000. Marshall Wace LLP boosted its position in Bowlero by 101.5% during the 2nd quarter. Marshall Wace LLP now owns 363,784 shares of the company’s stock worth $5,271,000 after acquiring an additional 183,252 shares during the last quarter. Lisanti Capital Growth LLC bought a new position in shares of Bowlero during the 2nd quarter worth approximately $2,648,000. Squarepoint Ops LLC raised its holdings in shares of Bowlero by 201.2% in the second quarter. Squarepoint Ops LLC now owns 82,803 shares of the company’s stock valued at $1,200,000 after purchasing an additional 164,603 shares during the last quarter. Finally, Systematic Financial Management LP raised its holdings in shares of Bowlero by 24.0% in the third quarter. Systematic Financial Management LP now owns 838,090 shares of the company’s stock valued at $9,839,000 after purchasing an additional 161,951 shares during the last quarter. Institutional investors 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.