B. Riley Reiterates Buy Rating for Bowlero (NYSE:BOWL)

Bowlero (NYSE:BOWL)‘s stock had its “buy” rating restated by stock analysts at B. Riley in a note issued to investors on Tuesday, Benzinga reports. They currently have a $17.00 price target on the stock. B. Riley’s target price suggests a potential upside of 19.55% from the stock’s current price.

BOWL has been the subject of a number of other reports. JPMorgan Chase & Co. reduced their price target on shares of Bowlero from $17.00 to $16.00 and set an “overweight” rating for the company in a report on Friday, May 3rd. Craig Hallum lifted their price objective on shares of Bowlero from $17.00 to $18.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. Canaccord Genuity Group cut their price target on shares of Bowlero from $20.00 to $18.00 and set a “buy” rating on the stock 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. Finally, Oppenheimer cut their price target on shares of Bowlero from $18.00 to $15.00 and set an “outperform” rating on the stock in a report on Tuesday, May 7th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $16.57.

Bowlero Price Performance

BOWL stock opened at $14.22 on Tuesday. The company has a fifty day moving average price of $12.41 and a 200-day moving average price of $12.69. The company has a market capitalization of $2.12 billion, a P/E ratio of 26.83 and a beta of 0.58. Bowlero has a 52-week low of $8.85 and a 52-week high of $15.47. The company has a debt-to-equity ratio of 46.80, a quick ratio of 1.21 and a current ratio of 1.29.

Bowlero (NYSE:BOWL) last released its quarterly 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 net margin of 11.24% and a return on equity of 330.46%. The business had revenue of $337.67 million for the quarter, compared to the consensus estimate of $341.45 million. As a group, equities analysts expect that Bowlero will post 0.04 EPS for the current year.

Insider Buying and Selling

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 shares were sold at an average price of $12.90, for a total transaction 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Michelle D. Wilson sold 39,309 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $13.98, for a total value of $549,539.82. Following the completion of the sale, the director now owns 958,162 shares of the company’s stock, valued at approximately $13,395,104.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michelle D. Wilson sold 65,829 shares of the stock in a transaction on Friday, June 14th. The shares were sold at an average price of $12.90, for a total transaction of $849,194.10. Following the transaction, the director now directly owns 848,471 shares in the company, valued at approximately $10,945,275.90. The disclosure for this sale can be found here. 56.54% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Bowlero

Several institutional investors and hedge funds have recently made changes to their positions in BOWL. Kent Lake Capital LLC grew its holdings in shares of Bowlero by 500.0% during the 3rd quarter. Kent Lake Capital LLC now owns 600,000 shares of the company’s stock valued at $5,772,000 after purchasing an additional 500,000 shares during the last quarter. Cadian Capital Management LP bought a new stake in Bowlero in the 3rd quarter worth $4,810,000. Kennedy Capital Management LLC grew its holdings in Bowlero by 283.8% in the 3rd quarter. Kennedy Capital Management LLC now owns 482,083 shares of the company’s stock worth $4,638,000 after acquiring an additional 356,485 shares during the last quarter. Primecap Management Co. CA bought a new stake in Bowlero in the 3rd quarter worth $3,145,000. Finally, Champlain Investment Partners LLC grew its holdings in 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 acquiring an additional 275,525 shares during the last quarter. Institutional investors own 68.11% of the company’s stock.

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.