Bowlero Corp. (NYSE:BOWL) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Bowlero Corp. (NYSE:BOWL) has earned a consensus rating of “Moderate Buy” from the eight ratings firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $16.57.

Several equities research analysts have recently commented on BOWL shares. Canaccord Genuity Group decreased their price target on Bowlero from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, May 7th. CJS Securities reissued a “market perform” rating on shares of Bowlero in a research note on Tuesday, May 7th. Oppenheimer decreased their price target on Bowlero from $18.00 to $15.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 7th. JPMorgan Chase & Co. decreased their price target on Bowlero from $17.00 to $16.00 and set an “overweight” rating on the stock in a research note on Friday, May 3rd. Finally, Craig Hallum boosted their price target on Bowlero from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th.

Bowlero Trading Down 0.2 %

NYSE BOWL opened at $11.07 on Friday. The business’s 50 day moving average is $12.69 and its two-hundred day moving average is $12.67. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of 20.89 and a beta of 0.62. Bowlero has a 12-month low of $8.85 and a 12-month high of $15.47.

Bowlero Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Friday, August 23rd will be paid a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date is Friday, August 23rd. Bowlero’s payout ratio is currently 41.51%.

Insider Activity at Bowlero

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. 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

Large investors have recently made changes to their positions in the business. Parkside Financial Bank & Trust increased its holdings in shares of Bowlero by 35.7% during the 4th 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 during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Bowlero by 47.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,800 shares of the company’s stock worth $110,000 after buying an additional 2,500 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Bowlero by 7.0% during 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 last quarter. Raymond James & Associates increased its holdings in shares of Bowlero by 26.6% during the 4th quarter. Raymond James & Associates now owns 21,520 shares of the company’s stock worth $305,000 after buying an additional 4,520 shares during the last quarter. Finally, Diversified Trust Co increased its holdings in shares of Bowlero by 39.4% during the 1st quarter. Diversified Trust Co now owns 23,700 shares of the company’s stock worth $325,000 after buying an additional 6,700 shares during the last quarter. 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.