Bowlero (NYSE:BOWL) Coverage Initiated by Analysts at Piper Sandler

Piper Sandler initiated coverage on shares of Bowlero (NYSE:BOWL) in a report issued on Monday morning, Marketbeat Ratings reports. The brokerage issued a neutral rating and a $12.00 price objective on the stock.

BOWL has been the subject of a number of other research reports. Canaccord Genuity Group reaffirmed a “buy” rating and set a $18.00 target price on shares of Bowlero in a report on Monday, September 30th. B. Riley restated a “buy” rating and set a $17.00 price objective on shares of Bowlero in a research note on Tuesday, September 3rd. Finally, Royal Bank of Canada upgraded shares of Bowlero to a “moderate buy” rating in a research note on Thursday, October 3rd. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Bowlero presently has an average rating of “Moderate Buy” and an average target price of $16.00.

Bowlero Price Performance

Shares of NYSE:BOWL opened at $10.37 on Monday. The business’s 50-day moving average is $11.54 and its 200 day moving average is $12.19. Bowlero has a 1 year low of $8.85 and a 1 year high of $15.47. The firm has a market capitalization of $1.53 billion, a P/E ratio of -15.95 and a beta of 0.60.

Bowlero (NYSE:BOWL) last posted its quarterly earnings data on Thursday, September 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.05). The company had revenue of $283.87 million for the quarter, compared to analyst estimates of $273.33 million. Bowlero had a negative net margin of 7.24% and a negative return on equity of 5.36%. On average, analysts expect that Bowlero will post 0.29 EPS for the current year.

Bowlero Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 23rd were given a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date was Friday, August 23rd. Bowlero’s dividend payout ratio (DPR) is presently -33.85%.

Hedge Funds Weigh In On Bowlero

A number of large investors have recently bought and sold shares of BOWL. Russell Investments Group Ltd. purchased a new stake in shares of Bowlero in the first quarter valued at approximately $1,636,000. Boston Partners raised its position in Bowlero by 6.0% during the first quarter. Boston Partners now owns 3,646,113 shares of the company’s stock worth $49,004,000 after acquiring an additional 205,902 shares during the period. Champlain Investment Partners LLC lifted its holdings in Bowlero by 10.8% during the first 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 in the last quarter. Lisanti Capital Growth LLC purchased a new position in Bowlero during the second quarter valued at $2,648,000. Finally, Marshall Wace LLP grew its position in shares of 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 purchasing an additional 183,252 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.