Bowlero (NYSE:BOWL) Sees Unusually-High Trading Volume – Here’s Why

Shares of Bowlero Corp. (NYSE:BOWL) saw an uptick in trading volume on Thursday . 1,303,155 shares were traded during mid-day trading, an increase of 61% from the previous session’s volume of 811,322 shares.The stock last traded at $11.55 and had previously closed at $11.47.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BOWL. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $18.00 target price on shares of Bowlero in a research note on Monday, September 30th. B. Riley reaffirmed a “buy” rating and issued a $17.00 target price on shares of Bowlero in a research note on Tuesday, September 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 target price for the company. Royal Bank of Canada raised shares of Bowlero to a “moderate buy” rating in a research note on Thursday, October 3rd. Finally, JPMorgan Chase & Co. dropped their target price on shares of Bowlero from $16.00 to $15.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $15.88.

Bowlero Stock Up 1.9 %

The stock has a market cap of $1.69 billion, a price-to-earnings ratio of -18.80 and a beta of 0.62. The stock’s fifty day moving average is $11.55 and its 200-day moving average is $12.17.

Bowlero (NYSE:BOWL) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 in the previous year, the company earned ($0.10) earnings per share. As a group, equities research analysts predict that Bowlero Corp. will post 0.45 earnings per share for the current fiscal year.

Bowlero Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors 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 yield of 1.92%. The ex-dividend date of this dividend is Friday, November 22nd. Bowlero’s dividend payout ratio is currently -36.07%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Barclays PLC boosted its holdings in shares of Bowlero by 22.6% in the third quarter. Barclays PLC now owns 7,807 shares of the company’s stock valued at $91,000 after buying an additional 1,439 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings 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 valued at $205,000 after buying an additional 978 shares during the period. Centiva Capital LP acquired a new position in shares of Bowlero in the third quarter valued at approximately $207,000. Quest Partners LLC boosted its holdings in shares of Bowlero by 3,311,100.0% in the third quarter. Quest Partners LLC now owns 33,112 shares of the company’s stock valued at $389,000 after buying an additional 33,111 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in shares of Bowlero by 13.1% in the third quarter. Victory Capital Management Inc. now owns 33,099 shares of the company’s stock valued at $389,000 after buying an additional 3,835 shares during the period. 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.