JPMorgan Chase & Co. Cuts Bowlero (NYSE:BOWL) Price Target to $15.00

Bowlero (NYSE:BOWL) had its target price cut by JPMorgan Chase & Co. from $16.00 to $15.00 in a research report released on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other research analysts have also issued research reports about the stock. Royal Bank of Canada raised shares of Bowlero to a “moderate buy” rating in a research note on Thursday, October 3rd. Piper Sandler initiated coverage on Bowlero in a research note on Monday, October 28th. They set a “neutral” rating and a $12.00 price objective on the stock. Canaccord Genuity Group restated a “buy” rating and issued a $18.00 price target on shares of Bowlero in a report on Monday, September 30th. Finally, B. Riley reiterated a “buy” rating and set a $17.00 price objective on shares of Bowlero in a report on Tuesday, September 3rd. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.88.

Bowlero Trading Down 0.5 %

Shares of NYSE:BOWL traded down $0.06 during trading on Tuesday, hitting $11.49. 62,187 shares of the company’s stock were exchanged, compared to its average volume of 808,075. The firm has a 50-day moving average price of $11.49 and a two-hundred day moving average price of $12.16. Bowlero has a 1-year low of $9.70 and a 1-year high of $15.47. The firm has a market cap of $1.69 billion, a P/E ratio of -18.93 and a beta of 0.62.

Bowlero (NYSE:BOWL) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.30. Bowlero had a negative return on equity of 34.55% and a negative net margin of 6.63%. The business had revenue of $260.20 million for the quarter, compared to analyst estimates of $249.42 million. During the same period last year, the company earned ($0.10) EPS. As a group, research analysts predict that Bowlero will post 0.2 EPS for the current year.

Bowlero Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be paid a dividend of $0.055 per share. The ex-dividend date is Friday, November 22nd. This represents a $0.22 annualized dividend and a dividend yield of 1.91%. Bowlero’s dividend payout ratio is currently -36.07%.

Hedge Funds Weigh In On Bowlero

A number of large investors have recently modified their holdings of the business. Champlain Investment Partners LLC raised its stake in Bowlero by 10.8% in the 1st quarter. Champlain Investment Partners LLC now owns 2,817,305 shares of the company’s stock valued at $38,597,000 after acquiring an additional 275,525 shares during the period. Boston Partners boosted its holdings in shares of Bowlero by 6.0% during the 1st quarter. Boston Partners now owns 3,646,113 shares of the company’s stock worth $49,004,000 after buying an additional 205,902 shares during the period. Marshall Wace LLP grew its stake in Bowlero by 101.5% in the 2nd quarter. Marshall Wace LLP now owns 363,784 shares of the company’s stock valued at $5,271,000 after buying an additional 183,252 shares during the last quarter. Lisanti Capital Growth LLC bought a new position in Bowlero in the 2nd quarter valued at about $2,648,000. Finally, Squarepoint Ops LLC lifted its position in Bowlero by 201.2% during the second quarter. Squarepoint Ops LLC now owns 82,803 shares of the company’s stock worth $1,200,000 after acquiring an additional 164,603 shares during the last quarter. 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.