Bowlero’s (BOWL) “Buy” Rating Reiterated at B. Riley

B. Riley reissued their buy rating on shares of Bowlero (NYSE:BOWL) in a research report report published on Tuesday, Benzinga reports. B. Riley currently has a $17.00 price objective on the stock.

A number of other research firms have also recently commented on BOWL. Stifel Nicolaus reduced their price target on Bowlero from $19.00 to $17.00 and set a buy rating for the company in a report on Tuesday, May 7th. Canaccord Genuity Group dropped their price target on Bowlero from $20.00 to $18.00 and set a buy rating on the stock in a research note on Tuesday, May 7th. Craig Hallum lifted their price objective on shares of Bowlero from $17.00 to $18.00 and gave the stock a buy rating in a research report on Tuesday, May 7th. CJS Securities reissued a market perform rating on shares of Bowlero in a research report on Tuesday, May 7th. Finally, Oppenheimer reduced their target price on shares of Bowlero from $18.00 to $15.00 and set an outperform rating for the company in a report on Tuesday, May 7th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Bowlero presently has a consensus rating of Moderate Buy and an average price target of $16.57.

Bowlero Price Performance

Shares of BOWL stock opened at $10.80 on Tuesday. The company has a fifty day moving average price of $12.42 and a two-hundred day moving average price of $12.60. Bowlero has a one year low of $8.85 and a one year high of $15.47. The stock has a market cap of $1.61 billion, a P/E ratio of 20.37 and a beta of 0.62.

Bowlero Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Friday, August 23rd will be given a $0.055 dividend. The ex-dividend date of this dividend is Friday, August 23rd. This represents a $0.22 dividend on an annualized basis and a dividend yield of 2.04%. Bowlero’s payout ratio is 41.51%.

Insiders Place Their Bets

In related news, Director Michelle D. Wilson sold 39,309 shares of the business’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $13.98, for a total transaction of $549,539.82. Following the sale, the director now owns 958,162 shares in the company, valued at approximately $13,395,104.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Bowlero news, Director Michelle D. Wilson sold 39,309 shares of Bowlero stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $13.98, for a total transaction of $549,539.82. Following the transaction, the director now directly owns 958,162 shares of the company’s stock, valued at approximately $13,395,104.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michelle D. Wilson sold 65,829 shares of the stock in a transaction dated 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 sale, the director now directly owns 848,471 shares of the company’s stock, valued at approximately $10,945,275.90. The disclosure for this sale can be found here. Corporate insiders own 56.54% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Champlain Investment Partners LLC lifted its stake in shares of 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 purchasing an additional 275,525 shares during the period. Boston Partners increased its holdings in Bowlero by 7.4% in the fourth quarter. Boston Partners now owns 3,440,211 shares of the company’s stock worth $47,632,000 after purchasing an additional 236,060 shares in the last quarter. Marshall Wace LLP lifted its stake in Bowlero by 101.5% in the second quarter. Marshall Wace LLP now owns 363,784 shares of the company’s stock valued at $5,271,000 after buying an additional 183,252 shares during the period. Lisanti Capital Growth LLC bought a new position in shares of Bowlero during the 2nd quarter worth approximately $2,648,000. Finally, Squarepoint Ops LLC grew its position in shares of Bowlero by 201.2% during the 2nd quarter. Squarepoint Ops LLC now owns 82,803 shares of the company’s stock worth $1,200,000 after buying an additional 164,603 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.