Bowlero (NYSE:BOWL) Trading Down 1.5% – What’s Next?

Shares of Bowlero Corp. (NYSE:BOWL) traded down 1.5% on Tuesday . The stock traded as low as $9.48 and last traded at $9.76. 206,610 shares traded hands during trading, a decline of 69% from the average session volume of 665,649 shares. The stock had previously closed at $9.91.

Analysts Set New Price Targets

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

Bowlero Stock Performance

The stock has a market cap of $1.43 billion, a price-to-earnings ratio of -16.00 and a beta of 0.70. The business has a 50-day simple moving average of $10.56 and a two-hundred day simple moving average of $11.05.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BOWL. Systematic Financial Management LP boosted its stake in shares of Bowlero by 24.0% during the 3rd quarter. Systematic Financial Management LP now owns 838,090 shares of the company’s stock worth $9,839,000 after buying an additional 161,951 shares during the last quarter. Portolan Capital Management LLC acquired a new position in Bowlero during the third quarter valued at approximately $8,281,000. State Street Corp grew its stake in Bowlero by 43.2% in the third quarter. State Street Corp now owns 285,534 shares of the company’s stock valued at $3,352,000 after purchasing an additional 86,083 shares in the last quarter. Stifel Financial Corp increased its position in shares of Bowlero by 3.7% during the 3rd quarter. Stifel Financial Corp now owns 74,969 shares of the company’s stock worth $880,000 after purchasing an additional 2,664 shares during the last quarter. Finally, Janus Henderson Group PLC raised its stake in shares of Bowlero by 8.6% during the 3rd quarter. Janus Henderson Group PLC now owns 60,022 shares of the company’s stock worth $705,000 after purchasing an additional 4,763 shares in the last quarter. Institutional investors own 68.11% of the company’s stock.

Bowlero Company Profile

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.