Bowlero (NYSE:BOWL) Shares Up 4.2% – Still a Buy?

Bowlero Corp. (NYSE:BOWL) shares were up 4.2% on Thursday . The company traded as high as $12.54 and last traded at $12.53. Approximately 53,258 shares traded hands during mid-day trading, a decline of 94% from the average daily volume of 823,313 shares. The stock had previously closed at $12.03.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BOWL. Canaccord Genuity Group restated a “buy” rating and set a $18.00 price target on shares of Bowlero in a research note on Monday, September 30th. B. Riley restated a “buy” rating and issued a $17.00 target price on shares of Bowlero in a research note on Tuesday, September 3rd. Finally, Royal Bank of Canada upgraded Bowlero to a “moderate buy” rating in a research note on Thursday, October 3rd. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $16.57.

Bowlero Stock Performance

The company’s 50 day simple moving average is $11.50 and its 200-day simple moving average is $12.30. The firm has a market capitalization of $1.88 billion, a PE ratio of 23.87 and a beta of 0.60.

Bowlero (NYSE:BOWL) last posted its quarterly earnings data on Thursday, September 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.05). The business had revenue of $283.87 million for the quarter, compared to the consensus estimate of $273.33 million. Bowlero had a negative net margin of 7.24% and a negative return on equity of 5.36%. On average, equities research analysts forecast that Bowlero Corp. will post 0.29 earnings per share for the current fiscal year.

Bowlero Dividend Announcement

The firm also recently disclosed 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 1.74%. The ex-dividend date was Friday, August 23rd. Bowlero’s payout ratio is 41.51%.

Institutional Investors Weigh In On Bowlero

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. purchased a new stake in shares of Bowlero during the 1st quarter valued at $1,636,000. Boston Partners boosted its stake in Bowlero by 6.0% in the first quarter. Boston Partners now owns 3,646,113 shares of the company’s stock worth $49,004,000 after buying an additional 205,902 shares in the last quarter. Champlain Investment Partners LLC raised its stake in shares of Bowlero by 10.8% during the first quarter. Champlain Investment Partners LLC now owns 2,817,305 shares of the company’s stock worth $38,597,000 after acquiring an additional 275,525 shares in the last quarter. Lisanti Capital Growth LLC purchased a new stake in shares of Bowlero in the 2nd quarter valued at $2,648,000. Finally, Marshall Wace LLP grew its holdings in shares of Bowlero by 101.5% during the 2nd quarter. Marshall Wace LLP now owns 363,784 shares of the company’s stock valued at $5,271,000 after purchasing an additional 183,252 shares during the last quarter. 68.11% of the stock is owned by hedge funds and other institutional investors.

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.