Bowlero's (BOWL) Market Perform Rating Reaffirmed at CJS Securities

CJS Securities restated their market perform rating on shares of Bowlero (NYSE:BOWL - Free Report) in a research note published on Tuesday morning, Benzinga reports.

Several other equities analysts also recently weighed in on the company. Oppenheimer dropped their target price on Bowlero from $18.00 to $15.00 and set an outperform rating for the company in a research report on Tuesday. Roth Mkm lifted their target price on Bowlero from $14.00 to $17.00 and gave the company a buy rating in a research report on Tuesday, February 6th. Stifel Nicolaus dropped their target price on Bowlero from $19.00 to $17.00 and set a buy rating for the company in a research report on Tuesday. Finally, JPMorgan Chase & Co. lowered their price objective on Bowlero from $17.00 to $16.00 and set an overweight rating for the company in a research report on Friday. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $16.57.

Bowlero Trading Up 0.8 %

Shares of NYSE:BOWL traded up $0.09 during midday trading on Tuesday, reaching $11.29. 2,262,241 shares of the company's stock were exchanged, compared to its average volume of 1,086,653. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of 62.56 and a beta of 0.57. The company has a debt-to-equity ratio of 46.80, a current ratio of 1.22 and a quick ratio of 1.14. The firm's 50 day simple moving average is $12.72 and its two-hundred day simple moving average is $12.15. Bowlero has a fifty-two week low of $8.85 and a fifty-two week high of $15.47.

Bowlero (NYSE:BOWL - Get Free Report) last released its earnings results on Monday, February 5th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.13). The firm had revenue of $305.67 million during the quarter, compared to analyst estimates of $300.46 million. Bowlero had a net margin of 6.33% and a return on equity of 98.75%. As a group, sell-side analysts forecast that Bowlero will post 0.15 EPS for the current fiscal year.

Bowlero Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 24th will be given a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date is Thursday, May 23rd. Bowlero's dividend payout ratio is presently 122.22%.

Insider Buying and Selling

In related news, Director Michelle D. Wilson sold 87,267 shares of the business's 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 completion of the sale, the director now owns 1,040,204 shares in the company, valued at $13,397,827.52. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 56.54% of the stock is owned by company insiders.

Institutional Investors Weigh In On Bowlero

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cadian Capital Management LP purchased a new stake in Bowlero in the third quarter valued at approximately $4,810,000. Vanguard Group Inc. increased its holdings in shares of Bowlero by 4.8% in the third quarter. Vanguard Group Inc. now owns 4,229,231 shares of the company's stock valued at $40,685,000 after purchasing an additional 193,801 shares during the period. Kennedy Capital Management LLC increased its holdings in shares of Bowlero by 283.8% in the third 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 period. Primecap Management Co. CA acquired a new position in shares of Bowlero in the third quarter valued at approximately $3,145,000. Finally, Private Management Group Inc. acquired a new position in shares of Bowlero in the third quarter valued at approximately $12,217,000. Hedge funds and other institutional investors 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.