Bowlero (NYSE:BOWL) Shares Gap Down Following Analyst Downgrade

Bowlero Corp. (NYSE:BOWL)’s share price gapped down before the market opened on Monday after JPMorgan Chase & Co. lowered their price target on the stock from $17.00 to $16.00. The stock had previously closed at $12.49, but opened at $10.62. JPMorgan Chase & Co. currently has an overweight rating on the stock. Bowlero shares last traded at $10.20, with a volume of 1,813,220 shares changing hands.

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

Insider Activity

In other news, Director Michelle D. Wilson sold 87,267 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $12.88, for a total value of $1,123,998.96. Following the sale, the director now owns 1,040,204 shares in the company, valued at approximately $13,397,827.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 56.54% of the stock is owned by corporate insiders.

Institutional Trading of Bowlero

Several institutional investors and hedge funds have recently added to or reduced their stakes in BOWL. PNC Financial Services Group Inc. bought a new stake in Bowlero during the 3rd quarter worth about $51,000. Parkside Financial Bank & Trust raised its holdings in Bowlero by 35.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 4,892 shares of the company’s stock worth $69,000 after purchasing an additional 1,286 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Bowlero by 23.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,692 shares of the company’s stock worth $93,000 after purchasing an additional 1,842 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in Bowlero by 2,940.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 6,568 shares of the company’s stock worth $93,000 after purchasing an additional 6,352 shares during the last quarter. Finally, Arizona State Retirement System raised its holdings in Bowlero by 19.0% during the 3rd quarter. Arizona State Retirement System now owns 12,833 shares of the company’s stock worth $123,000 after purchasing an additional 2,046 shares during the last quarter. 68.11% of the stock is owned by institutional investors.

Bowlero Trading Down 18.3 %

The company has a current ratio of 1.22, a quick ratio of 1.14 and a debt-to-equity ratio of 46.80. The company has a market capitalization of $1.53 billion, a P/E ratio of 55.89 and a beta of 0.57. The business has a 50 day moving average price of $12.74 and a 200 day moving average price of $12.15.

Bowlero (NYSE:BOWL) last issued its quarterly earnings data on Monday, February 5th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.13). The company had revenue of $305.67 million for the quarter, compared to the consensus estimate of $300.46 million. Bowlero had a return on equity of 98.75% and a net margin of 6.33%. Analysts anticipate that Bowlero Corp. will post 0.15 EPS for the current year.

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.