Bowlero (NYSE:BOWL) Shares Gap Down Following Analyst Downgrade

Shares of Bowlero Corp. (NYSE:BOWL) gapped down prior to trading on Monday after JPMorgan Chase & Co. lowered their price target on the stock from $17.00 to $16.00. The stock had previously closed at $12.49, but opened at $10.62. JPMorgan Chase & Co. currently has an overweight rating on the stock. Bowlero shares last traded at $10.20, with a volume of 1,813,220 shares.

A number of other analysts also recently weighed in on BOWL. Roth Mkm boosted their target price on shares of Bowlero from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. Oppenheimer upped their target price on shares of Bowlero from $16.00 to $18.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 14th. Finally, Stifel Nicolaus dropped their target price on shares of Bowlero from $21.00 to $19.00 and set a “buy” rating on the stock in a research note on Tuesday, April 23rd. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $18.00.

Insider Activity at Bowlero

In related news, Director Michelle D. Wilson sold 87,267 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $12.88, for a total transaction of $1,123,998.96. Following the completion of the sale, the director now owns 1,040,204 shares of the company’s stock, valued at $13,397,827.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 56.54% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. acquired a new stake in shares of Bowlero in the third quarter worth $51,000. Parkside Financial Bank & Trust increased its stake in shares of 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 purchasing an additional 1,286 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Bowlero by 23.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,692 shares of the company’s stock worth $93,000 after purchasing an additional 1,842 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in shares of 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 purchasing an additional 6,352 shares in the last quarter. Finally, Arizona State Retirement System increased its stake in shares of Bowlero by 19.0% during the third quarter. Arizona State Retirement System now owns 12,833 shares of the company’s stock worth $123,000 after purchasing an additional 2,046 shares in the last quarter. Institutional investors and hedge funds own 68.11% of the company’s stock.

Bowlero Stock Down 18.3 %

The firm has a market cap of $1.53 billion, a PE ratio of 55.89 and a beta of 0.57. The business’s 50 day moving average price is $12.74 and its 200 day moving average price is $12.15. The company has a debt-to-equity ratio of 46.80, a current ratio of 1.22 and a quick ratio of 1.14.

Bowlero (NYSE:BOWL) last released its earnings results on Monday, February 5th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.13). The company had revenue of $305.67 million for the quarter, compared to analysts’ expectations of $300.46 million. Bowlero had a return on equity of 98.75% and a net margin of 6.33%. On average, equities research analysts expect that Bowlero Corp. will post 0.15 earnings per share for the current year.

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.