Bowlero (NYSE:BOWL) Price Target Cut to $19.00 by Analysts at Stifel Nicolaus

Bowlero (NYSE:BOWL) had its price target reduced by Stifel Nicolaus from $21.00 to $19.00 in a research note published on Tuesday morning, Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

A number of other research analysts have also recently issued reports on BOWL. Roth Mkm lifted their price target on Bowlero from $14.00 to $17.00 and gave the company a buy rating in a report on Tuesday, February 6th. Oppenheimer lifted their price target on Bowlero from $16.00 to $18.00 and gave the company an outperform rating in a report on Wednesday, February 14th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Bowlero presently has an average rating of Buy and an average price target of $18.00.

Bowlero Stock Performance

Bowlero stock opened at $11.30 on Tuesday. The stock has a 50-day simple moving average of $12.92 and a 200 day simple moving average of $12.10. The company has a quick ratio of 1.14, a current ratio of 1.22 and a debt-to-equity ratio of 46.80. Bowlero has a 12-month low of $8.85 and a 12-month high of $15.47. The stock has a market capitalization of $1.69 billion, a price-to-earnings ratio of 62.78 and a beta of 0.50.

Bowlero (NYSE:BOWL) last released its quarterly earnings results on Monday, February 5th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.13). Bowlero had a net margin of 6.33% and a return on equity of 98.75%. The business had revenue of $305.67 million during the quarter, compared to the consensus estimate of $300.46 million. On average, research analysts anticipate that Bowlero will post 0.17 earnings per share for the current fiscal year.

Bowlero Dividend Announcement

The company also recently disclosed a Variable dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were given a $0.055 dividend. The ex-dividend date was Thursday, February 22nd. Bowlero’s payout ratio is 122.22%.

Insider Buying and Selling

In related news, Director Michelle D. Wilson sold 87,267 shares of Bowlero stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $12.88, for a total value of $1,123,998.96. Following the completion of the sale, the director now directly owns 1,040,204 shares in the company, valued at $13,397,827.52. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 56.54% of the company’s stock.

Hedge Funds Weigh In On Bowlero

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Bowlero by 4.8% during the 3rd quarter. Vanguard Group Inc. now owns 4,229,231 shares of the company’s stock worth $40,685,000 after buying an additional 193,801 shares during the period. Boston Partners grew its position in shares of Bowlero by 7.4% during the 4th quarter. Boston Partners now owns 3,440,211 shares of the company’s stock worth $47,632,000 after buying an additional 236,060 shares during the period. Private Management Group Inc. acquired a new position in shares of Bowlero in the 3rd quarter valued at approximately $12,217,000. Kent Lake Capital LLC grew its position in shares of Bowlero by 500.0% in 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 period. Finally, Cadian Capital Management LP acquired a new position in shares of Bowlero in the 3rd quarter valued at approximately $4,810,000. 68.11% of the stock is currently 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.