Bowlero (NYSE:BOWL) Trading Up 0.1% – Here’s What Happened

Bowlero Corp. (NYSE:BOWL) was up 0.1% during mid-day trading on Monday . The company traded as high as $9.61 and last traded at $9.56. Approximately 683,820 shares changed hands during mid-day trading, a decline of 14% from the average daily volume of 796,863 shares. The stock had previously closed at $9.55.

Analysts Set New Price Targets

Separately, Truist Financial started coverage on shares of Bowlero in a report on Tuesday, December 10th. They issued a “buy” rating and a $16.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Bowlero currently has an average rating of “Moderate Buy” and a consensus target price of $15.89.

Bowlero Price Performance

The firm’s 50 day moving average is $10.66 and its two-hundred day moving average is $11.17. The firm has a market capitalization of $1.41 billion, a P/E ratio of -15.72 and a beta of 0.70.

Hedge Funds Weigh In On Bowlero

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Deutsche Bank AG bought a new position in Bowlero during the fourth quarter worth $47,000. Barclays PLC boosted its position in Bowlero by 22.6% during the third quarter. Barclays PLC now owns 7,807 shares of the company’s stock worth $91,000 after purchasing an additional 1,439 shares during the period. Raymond James Financial Inc. bought a new position in Bowlero during the fourth quarter worth $184,000. Centiva Capital LP bought a new position in Bowlero during the third quarter worth $207,000. Finally, Victory Capital Management Inc. boosted its position in Bowlero by 13.1% during the third quarter. Victory Capital Management Inc. now owns 33,099 shares of the company’s stock worth $389,000 after purchasing an additional 3,835 shares during the period. 68.11% of the stock is owned by institutional investors.

Bowlero Company Profile

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.