Bowlero (NYSE:BOWL) Shares Down 1.5% – Here’s Why

Bowlero Corp. (NYSE:BOWL) traded down 1.5% on Tuesday . The company traded as low as $9.48 and last traded at $9.76. 206,610 shares traded hands during trading, a decline of 69% from the average session volume of 665,649 shares. The stock had previously closed at $9.91.

Wall Street Analysts Forecast Growth

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

Bowlero Stock Down 1.5 %

The firm has a 50 day moving average of $10.56 and a 200-day moving average of $11.05. The firm has a market capitalization of $1.43 billion, a P/E ratio of -16.00 and a beta of 0.70.

Institutional Trading of Bowlero

Several large investors have recently modified their holdings of BOWL. Deutsche Bank AG bought a new stake in Bowlero during the fourth quarter worth about $47,000. Raymond James Financial Inc. bought a new stake in shares of Bowlero during the 4th quarter worth approximately $184,000. Barclays PLC boosted its position in shares of Bowlero by 22.6% during the 3rd quarter. Barclays PLC now owns 7,807 shares of the company’s stock worth $91,000 after acquiring an additional 1,439 shares in the last quarter. State Street Corp increased its stake in Bowlero by 43.2% in the third quarter. State Street Corp now owns 285,534 shares of the company’s stock valued at $3,352,000 after acquiring an additional 86,083 shares during the last quarter. Finally, Stifel Financial Corp raised its position in Bowlero by 3.7% during the third quarter. Stifel Financial Corp now owns 74,969 shares of the company’s stock valued at $880,000 after purchasing an additional 2,664 shares in the last quarter. 68.11% of the stock is owned by institutional investors and hedge funds.

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.