Bowlero (NYSE:BOWL) PT Lowered to $19.00 at Stifel Nicolaus

Bowlero (NYSE:BOWL - Free Report) had its price target decreased by Stifel Nicolaus from $21.00 to $19.00 in a research report sent to investors on Tuesday, Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

Several other equities research analysts have also weighed in on the company. Oppenheimer raised their target price on Bowlero from $16.00 to $18.00 and gave the stock an outperform rating in a research report on Wednesday, February 14th. Roth Mkm raised their target price on Bowlero from $14.00 to $17.00 and gave the stock a buy rating in a research report on Tuesday, February 6th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of Buy and an average target price of $18.00.

Bowlero Trading Down 3.3 %

Bowlero stock traded down $0.39 during midday trading on Tuesday, reaching $11.30. 986,407 shares of the stock traded hands, compared to its average volume of 1,057,828. The company has a 50-day simple moving average of $12.97 and a two-hundred day simple moving average of $12.10. Bowlero has a 12-month low of $8.85 and a 12-month high of $15.47. The firm has a market cap of $1.69 billion, a PE ratio of 64.28 and a beta of 0.50. The company has a current ratio of 1.22, a quick ratio of 1.14 and a debt-to-equity ratio of 46.80.

Bowlero (NYSE:BOWL - Get Free Report) last announced its quarterly earnings data on Monday, February 5th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.13). The company had revenue of $305.67 million during the quarter, compared to analysts' expectations of $300.46 million. Bowlero had a net margin of 6.33% and a return on equity of 98.75%. Research analysts expect that Bowlero will post 0.17 earnings per share for the current fiscal year.

Bowlero Announces Dividend

The company also recently declared a Variable dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were given a dividend of $0.055 per share. The ex-dividend date of this dividend was Thursday, February 22nd. Bowlero's dividend payout ratio (DPR) is 122.22%.

Insiders Place Their Bets

In other Bowlero news, Director Michelle D. Wilson sold 87,267 shares of Bowlero stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $12.88, for a total transaction of $1,123,998.96. Following the transaction, the director now owns 1,040,204 shares of the company's stock, valued at $13,397,827.52. The transaction was disclosed in a filing with the SEC, which is available at this link. 56.54% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of BOWL. Private Management Group Inc. purchased a new position in shares of Bowlero in the 3rd quarter valued at approximately $12,217,000. Cadian Capital Management LP purchased a new position in shares of Bowlero in the 3rd quarter valued at approximately $4,810,000. Kent Lake Capital LLC grew its stake 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 last quarter. Kennedy Capital Management LLC grew its stake in shares of Bowlero by 283.8% in the 3rd quarter. Kennedy Capital Management LLC now owns 482,083 shares of the company's stock valued at $4,638,000 after purchasing an additional 356,485 shares during the last quarter. Finally, Primecap Management Co. CA purchased a new position in shares of Bowlero in the 3rd quarter valued at approximately $3,145,000. 68.11% of the stock is currently owned by hedge funds and other institutional investors.

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.