Bowlero (NYSE:BOWL) Receives Market Perform Rating from CJS Securities

CJS Securities restated their market perform rating on shares of Bowlero (NYSE:BOWL) in a report issued on Tuesday, Benzinga reports.

Several other research analysts also recently commented on BOWL. Stifel Nicolaus lowered their price objective on shares of Bowlero from $19.00 to $17.00 and set a buy rating for the company in a research report on Tuesday. Oppenheimer reduced their price objective on Bowlero from $18.00 to $15.00 and set an outperform rating on the stock in a research note on Tuesday. Roth Mkm boosted their target price on Bowlero from $14.00 to $17.00 and gave the stock a buy rating in a research note on Tuesday, February 6th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Bowlero from $17.00 to $16.00 and set an overweight rating on the stock in a report on Friday, May 3rd. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $16.57.

Bowlero Stock Performance

NYSE:BOWL opened at $11.29 on Tuesday. The company has a market cap of $1.69 billion, a price-to-earnings ratio of 62.72 and a beta of 0.57. Bowlero has a fifty-two week low of $8.85 and a fifty-two week high of $15.47. The company has a debt-to-equity ratio of 46.80, a quick ratio of 1.14 and a current ratio of 1.22. The stock has a fifty day moving average price of $12.72 and a 200-day moving average price of $12.15.

Bowlero (NYSE:BOWL) last posted its quarterly earnings data on Monday, February 5th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.13). The firm had revenue of $305.67 million for the quarter, compared to the consensus estimate of $300.46 million. Bowlero had a return on equity of 98.75% and a net margin of 6.33%. As a group, equities analysts anticipate that Bowlero will post 0.15 EPS for the current fiscal year.

Bowlero Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 24th will be given a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend is Thursday, May 23rd. Bowlero’s payout ratio is 122.22%.

Insiders Place Their Bets

In other Bowlero news, Director Michelle D. Wilson sold 87,267 shares of the company’s stock in a transaction 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 transaction, the director now owns 1,040,204 shares in the company, valued at $13,397,827.52. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 56.54% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Raymond James & Associates bought a new position in shares of Bowlero during the third quarter valued at about $164,000. Bank of New York Mellon Corp lifted its position in shares of Bowlero by 6.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 121,436 shares of the company’s stock worth $1,168,000 after buying an additional 6,835 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position 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 valued at $93,000 after acquiring an additional 1,842 shares during the last quarter. Whittier Trust Co. boosted its position in Bowlero by 4.4% in the third quarter. Whittier Trust Co. now owns 358,257 shares of the company’s stock worth $3,446,000 after purchasing an additional 15,096 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its stake in Bowlero by 2.6% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 190,160 shares of the company’s stock valued at $1,829,000 after purchasing an additional 4,751 shares during the period. Institutional investors own 68.11% of the company’s stock.

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.