Bowlero’s (BOWL) “Buy” Rating Reiterated at B. Riley

B. Riley reissued their buy rating on shares of Bowlero (NYSE:BOWL) in a research note released on Tuesday, Benzinga reports. They currently have a $17.00 target price on the stock.

Several other equities analysts have also recently issued reports on the company. Roth Mkm dropped their target price on Bowlero from $17.00 to $15.00 and set a buy rating on the stock in a research report on Tuesday, May 7th. Craig Hallum upped their price target on Bowlero from $17.00 to $18.00 and gave the stock a buy rating in a report on Tuesday, May 7th. CJS Securities restated a market perform rating on shares of Bowlero in a report on Tuesday, May 7th. JPMorgan Chase & Co. lowered their price target on Bowlero from $17.00 to $16.00 and set an overweight rating on the stock in a report on Friday, May 3rd. Finally, Oppenheimer lowered their price target on Bowlero from $18.00 to $15.00 and set an outperform rating on the stock in a report on Tuesday, May 7th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $16.57.

Bowlero Stock Performance

Shares of BOWL stock opened at $14.53 on Tuesday. The company has a quick ratio of 1.21, a current ratio of 1.29 and a debt-to-equity ratio of 46.80. The stock’s 50-day moving average price is $12.37 and its 200 day moving average price is $12.67. Bowlero has a 52-week low of $8.85 and a 52-week high of $15.47. The stock has a market capitalization of $2.16 billion, a PE ratio of 27.42 and a beta of 0.58.

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

Bowlero Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Friday, May 24th were paid a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend was Thursday, May 23rd. Bowlero’s payout ratio is currently 41.51%.

Insider Activity at Bowlero

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Boston Partners lifted its stake in shares of Bowlero by 6.0% during the 1st quarter. Boston Partners now owns 3,646,113 shares of the company’s stock worth $49,004,000 after purchasing an additional 205,902 shares during the period. Janus Henderson Group PLC raised its position in shares of Bowlero by 76.9% in the 1st quarter. Janus Henderson Group PLC now owns 46,617 shares of the company’s stock worth $639,000 after buying an additional 20,259 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Bowlero by 7.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,953 shares of the company’s stock worth $205,000 after buying an additional 978 shares during the period. Bessemer Group Inc. raised its position in shares of Bowlero by 12.3% in the 1st quarter. Bessemer Group Inc. now owns 37,200 shares of the company’s stock worth $509,000 after buying an additional 4,070 shares during the period. Finally, Champlain Investment Partners LLC raised its position in shares of Bowlero by 10.8% in the 1st quarter. Champlain Investment Partners LLC now owns 2,817,305 shares of the company’s stock worth $38,597,000 after buying an additional 275,525 shares during the period. Hedge funds and other 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.