Bowlero (NYSE:BOWL) Shares Down 5.7% – Here’s What Happened

Bowlero Corp. (NYSE:BOWL)’s share price was down 5.7% on Monday . The company traded as low as $11.91 and last traded at $11.93. Approximately 113,133 shares were traded during trading, a decline of 86% from the average daily volume of 818,510 shares. The stock had previously closed at $12.65.

Analyst Ratings Changes

A number of analysts recently weighed in on BOWL shares. Royal Bank of Canada raised shares of Bowlero to a “moderate buy” rating in a research report on Thursday, October 3rd. B. Riley reaffirmed a “buy” rating and set a $17.00 price target on shares of Bowlero in a research report on Tuesday, September 3rd. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $18.00 price target on shares of Bowlero in a research report on Monday, September 30th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $16.57.

Bowlero Stock Performance

The stock has a market cap of $1.73 billion, a price-to-earnings ratio of 22.17 and a beta of 0.60. The business’s fifty day simple moving average is $11.54 and its 200 day simple moving average is $12.26.

Bowlero (NYSE:BOWL) last issued its quarterly earnings data on Thursday, September 5th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.05). Bowlero had a negative return on equity of 5.36% and a negative net margin of 7.24%. The firm had revenue of $283.87 million during the quarter, compared to analyst estimates of $273.33 million. As a group, analysts forecast that Bowlero Corp. will post 0.29 EPS for the current fiscal year.

Bowlero Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 23rd were paid a $0.055 dividend. The ex-dividend date was Friday, August 23rd. This represents a $0.22 dividend on an annualized basis and a dividend yield of 1.89%. Bowlero’s dividend payout ratio (DPR) is presently 41.51%.

Institutional Investors Weigh In On Bowlero

A number of institutional investors have recently modified their holdings of the stock. Squarepoint Ops LLC raised its stake in shares of Bowlero by 201.2% in the 2nd quarter. Squarepoint Ops LLC now owns 82,803 shares of the company’s stock valued at $1,200,000 after purchasing an additional 164,603 shares in the last quarter. Marshall Wace LLP raised its stake in shares of Bowlero by 101.5% in the 2nd quarter. Marshall Wace LLP now owns 363,784 shares of the company’s stock valued at $5,271,000 after purchasing an additional 183,252 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Bowlero in the 2nd quarter valued at about $411,000. Private Management Group Inc. raised its stake in Bowlero by 2.5% during the second quarter. Private Management Group Inc. now owns 1,290,388 shares of the company’s stock worth $18,698,000 after acquiring an additional 32,076 shares during the period. Finally, Victory Capital Management Inc. raised its stake in Bowlero by 63.3% during the second quarter. Victory Capital Management Inc. now owns 29,264 shares of the company’s stock worth $424,000 after acquiring an additional 11,341 shares during the period. Institutional investors and hedge funds 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.