Bowlero (NYSE:BOWL) Receives “Buy” Rating from B. Riley (2024)

Posted by Defense World Staff on Jun 26th, 2024

B. Riley reissued their buy rating on shares of Bowlero (NYSE:BOWL – Free Report) in a report published on Tuesday, Benzinga reports. B. Riley currently has a $17.00 price target on the stock.

A number of other equities analysts also recently issued reports on BOWL. Stifel Nicolaus lowered their price target on Bowlero from $19.00 to $17.00 and set a buy rating on the stock in a research report on Tuesday, May 7th. Canaccord Genuity Group cut their price target on shares of Bowlero from $20.00 to $18.00 and set a buy rating for the company in a report on Tuesday, May 7th. CJS Securities restated a market perform rating on shares of Bowlero in a research report on Tuesday, May 7th. Oppenheimer dropped their target price on shares of Bowlero from $18.00 to $15.00 and set an outperform rating on the stock in a research report on Tuesday, May 7th. Finally, Craig Hallum upped their price target on shares of Bowlero from $17.00 to $18.00 and gave the stock a buy rating in a research report on Tuesday, May 7th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $16.57.

Check Out Our Latest Research Report on BOWL

Bowlero Trading Up 2.6 %

Bowlero stock opened at $14.53 on Tuesday. The company has a current ratio of 1.29, a quick ratio of 1.21 and a debt-to-equity ratio of 46.80. The firm has a market cap of $2.16 billion, a PE ratio of 27.42 and a beta of 0.58. The stock’s 50 day simple moving average is $12.37 and its two-hundred day simple moving average is $12.67. Bowlero has a 12 month low of $8.85 and a 12 month high of $15.47.

Bowlero (NYSE:BOWL – Get Free Report) last released its quarterly earnings results on Monday, May 6th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.11). The firm had revenue of $337.67 million for the quarter, compared to analyst estimates of $341.45 million. Bowlero had a net margin of 11.24% and a return on equity of 330.46%. Analysts anticipate that Bowlero will post 0.04 earnings per share for the current year.

Bowlero Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 24th were given a $0.055 dividend. The ex-dividend date was Thursday, May 23rd. This represents a $0.22 annualized dividend and a dividend yield of 1.51%. Bowlero’s dividend payout ratio (DPR) is presently 41.51%.

Insider Activity

In other news, Director Michelle D. Wilson sold 39,309 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $13.98, for a total value of $549,539.82. Following the transaction, the director now owns 958,162 shares in the company, valued at $13,395,104.76. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Michelle D. Wilson sold 65,829 shares of Bowlero stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $12.90, for a total transaction of $849,194.10. Following the transaction, the director now owns 848,471 shares in the company, valued at $10,945,275.90. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Michelle D. Wilson sold 39,309 shares of Bowlero stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $13.98, for a total value of $549,539.82. Following the transaction, the director now owns 958,162 shares in the company, valued at approximately $13,395,104.76. The disclosure for this sale can be found here. Company insiders own 56.54% of the company’s stock.

Hedge Funds Weigh In On Bowlero

Institutional investors have recently added to or reduced their stakes in the stock. Parkside Financial Bank & Trust lifted its position in Bowlero by 35.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 4,892 shares of the company’s stock worth $69,000 after buying an additional 1,286 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Bowlero by 2,940.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 6,568 shares of the company’s stock worth $93,000 after acquiring an additional 6,352 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in Bowlero by 47.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,800 shares of the company’s stock worth $110,000 after acquiring an additional 2,500 shares during the last quarter. Quent Capital LLC acquired a new stake in Bowlero during the fourth quarter worth $198,000. Finally, Price T Rowe Associates Inc. MD increased its stake in Bowlero by 7.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,953 shares of the company’s stock worth $205,000 after acquiring an additional 978 shares during the last quarter. Hedge funds and other institutional investors own 68.11% of the company’s stock.

Bowlero Company Profile

(Get Free Report)

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.

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