Bowlero (NYSE:BOWL) Given New $16.00 Price Target at JPMorgan Chase & Co.

Bowlero (NYSE:BOWL) had its target price reduced by JPMorgan Chase & Co. from $17.00 to $16.00 in a research note published on Friday morning, Benzinga reports. They currently have an overweight rating on the stock.

BOWL has been the subject of several other research reports. Roth Mkm boosted their price target on Bowlero from $14.00 to $17.00 and gave the company a buy rating in a research note on Tuesday, February 6th. Oppenheimer lifted their price objective on shares of Bowlero from $16.00 to $18.00 and gave the company an outperform rating in a research note on Wednesday, February 14th. Finally, Stifel Nicolaus lowered their target price on shares of Bowlero from $21.00 to $19.00 and set a buy rating on the stock in a research report on Tuesday, April 23rd. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, Bowlero currently has a consensus rating of Buy and an average price target of $18.00.

Bowlero Stock Performance

Shares of BOWL stock opened at $12.49 on Friday. The stock’s fifty day simple moving average is $12.74 and its 200-day simple moving average is $12.13. The company has a market capitalization of $1.87 billion, a price-to-earnings ratio of 69.39 and a beta of 0.57. 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 has a 1-year low of $8.85 and a 1-year high of $15.47.

Bowlero (NYSE:BOWL) last posted its quarterly earnings results on Monday, February 5th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 return on equity of 98.75% and a net margin of 6.33%. On average, sell-side analysts predict that Bowlero will post 0.15 earnings per share for the current fiscal year.

Bowlero Dividend Announcement

The business also recently disclosed a Variable dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were issued a dividend of $0.055 per share. The ex-dividend date of this dividend was Thursday, February 22nd. Bowlero’s dividend payout ratio is currently 122.22%.

Insiders Place Their Bets

In other Bowlero news, Director Michelle D. Wilson sold 87,267 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $12.88, for a total transaction of $1,123,998.96. Following the transaction, the director now directly owns 1,040,204 shares in the company, valued at approximately $13,397,827.52. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 56.54% of the company’s stock.

Hedge Funds Weigh In On Bowlero

Institutional investors have recently modified their holdings of the stock. Simplicity Wealth LLC bought a new stake in shares of Bowlero in the 1st quarter valued at $561,000. Diversified Trust Co grew its stake in Bowlero by 39.4% in the first quarter. Diversified Trust Co now owns 23,700 shares of the company’s stock valued at $325,000 after acquiring an additional 6,700 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Bowlero by 47.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,800 shares of the company’s stock valued at $110,000 after purchasing an additional 2,500 shares during the period. GLOBALT Investments LLC GA bought a new stake in Bowlero during the 4th quarter worth approximately $625,000. Finally, Bullseye Asset Management LLC raised its holdings in Bowlero by 39.2% during the 4th quarter. Bullseye Asset Management LLC now owns 159,940 shares of the company’s stock worth $2,265,000 after buying an additional 45,000 shares during the period. 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.