Bowlero (NYSE:BOWL) Shares Down 2.1%

Bowlero Corp. (NYSE:BOWL) shares dropped 2.1% during trading on Wednesday . The company traded as low as $14.13 and last traded at $14.13. Approximately 10,703 shares were traded during mid-day trading, a decline of 99% from the average daily volume of 965,374 shares. The stock had previously closed at $14.44.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BOWL. Roth Mkm lowered their price objective on Bowlero from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Tuesday, May 7th. B. Riley reiterated a “buy” rating and issued a $17.00 price target on shares of Bowlero in a research report on Tuesday, June 25th. Canaccord Genuity Group reduced their price objective on shares of Bowlero from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, May 7th. Craig Hallum lifted their target price on shares of Bowlero from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. Finally, Stifel Nicolaus cut their price target on Bowlero from $19.00 to $17.00 and set a “buy” rating for the company in a research note on Tuesday, May 7th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Bowlero currently has a consensus rating of “Moderate Buy” and an average price target of $16.57.

Bowlero Price Performance

The stock has a market cap of $2.12 billion, a P/E ratio of 26.85 and a beta of 0.62. The stock’s 50-day moving average is $12.97 and its two-hundred day moving average is $12.87.

Bowlero (NYSE:BOWL) last released its quarterly earnings data on Monday, May 6th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.11). The company had revenue of $337.67 million for the quarter, compared to the consensus estimate of $341.45 million. Bowlero had a net margin of 11.24% and a return on equity of 330.46%. On average, analysts anticipate that Bowlero Corp. will post 0.04 EPS for the current fiscal year.

Bowlero Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 24th were issued a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend was Thursday, May 23rd. Bowlero’s dividend payout ratio is presently 41.51%.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Bowlero

Several hedge funds and other institutional investors have recently modified their holdings of the business. Boston Partners increased its stake in Bowlero by 6.0% in the first 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 increased its stake in 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 increased its stake in 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. lifted its holdings in Bowlero by 12.3% during the 1st quarter. Bessemer Group Inc. now owns 37,200 shares of the company’s stock valued at $509,000 after buying an additional 4,070 shares in the last quarter. Finally, Champlain Investment Partners LLC boosted its position in Bowlero by 10.8% in the 1st quarter. Champlain Investment Partners LLC now owns 2,817,305 shares of the company’s stock valued at $38,597,000 after buying an additional 275,525 shares during the period. 68.11% of the stock is currently owned by hedge funds and other institutional investors.

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.