Bowlero Corp. (NYSE:BOWL) Given Average Rating of “Moderate Buy” by Brokerages

Bowlero Corp. (NYSE:BOWL) has received an average recommendation of “Moderate Buy” from the eight analysts that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $16.57.

Separately, B. Riley restated a “buy” rating and issued a $17.00 target price on shares of Bowlero in a research report on Tuesday, September 3rd.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. grew its holdings 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 valued at $110,000 after buying an additional 2,500 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Bowlero by 7.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,953 shares of the company’s stock valued at $205,000 after acquiring an additional 978 shares in the last quarter. Diversified Trust Co increased its holdings in shares of Bowlero by 39.4% in the 1st quarter. Diversified Trust Co now owns 23,700 shares of the company’s stock valued at $325,000 after purchasing an additional 6,700 shares during the period. Summit Securities Group LLC purchased a new stake in shares of Bowlero in the second quarter worth approximately $392,000. Finally, XTX Topco Ltd acquired a new stake in shares of Bowlero during the second quarter worth approximately $411,000. 68.11% of the stock is owned by hedge funds and other institutional investors.

Bowlero Trading Down 1.5 %

NYSE:BOWL opened at $11.49 on Wednesday. The stock has a 50 day moving average of $11.83 and a 200-day moving average of $12.51. The firm has a market capitalization of $1.71 billion, a PE ratio of 21.68 and a beta of 0.59. Bowlero has a 52 week low of $8.85 and a 52 week high of $15.47.

Bowlero Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 23rd were issued a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend was Friday, August 23rd. Bowlero’s dividend payout ratio is 41.51%.

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.