Bowlero (NYSE:BOWL) Trading Up 0.1% – Here’s What Happened

Shares of Bowlero Corp. (NYSE:BOWL) traded up 0.1% during trading on Monday . The company traded as high as $9.61 and last traded at $9.56. 683,820 shares traded hands during trading, a decline of 14% from the average session volume of 796,863 shares. The stock had previously closed at $9.55.

Analysts Set New Price Targets

Separately, Truist Financial initiated coverage on shares of Bowlero in a research report on Tuesday, December 10th. They set a “buy” rating and a $16.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Bowlero presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.89.

Bowlero Price Performance

The stock’s 50-day moving average price is $10.66 and its 200-day moving average price is $11.17. The company has a market cap of $1.41 billion, a P/E ratio of -15.72 and a beta of 0.70.

Institutional Investors Weigh In On Bowlero

A number of institutional investors have recently modified their holdings of BOWL. Deutsche Bank AG acquired a new position in Bowlero in the fourth quarter valued at about $47,000. Barclays PLC raised its stake in Bowlero by 22.6% in the third quarter. Barclays PLC now owns 7,807 shares of the company’s stock valued at $91,000 after purchasing an additional 1,439 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Bowlero in the fourth quarter valued at about $184,000. Centiva Capital LP acquired a new position in Bowlero in the third quarter valued at about $207,000. Finally, Victory Capital Management Inc. raised its stake in Bowlero by 13.1% in the third quarter. Victory Capital Management Inc. now owns 33,099 shares of the company’s stock valued at $389,000 after purchasing an additional 3,835 shares in the last quarter. 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.