Bowlero (NYSE:BOWL) Stock Price Down 0.9% – What’s Next?

Shares of Bowlero Corp. (NYSE:BOWL) were down 0.9% during mid-day trading on Friday . The stock traded as low as $12.63 and last traded at $12.79. Approximately 660,771 shares changed hands during mid-day trading, a decline of 17% from the average daily volume of 796,863 shares. The stock had previously closed at $12.91.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on BOWL shares. Truist Financial started coverage on Bowlero in a report on Tuesday, December 10th. They issued a “buy” rating and a $16.00 price objective for the company. JPMorgan Chase & Co. cut their price target on Bowlero from $16.00 to $15.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Finally, Piper Sandler initiated coverage on Bowlero in a research note on Monday, October 28th. They issued a “neutral” rating and a $12.00 price target for the company. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Bowlero currently has an average rating of “Moderate Buy” and an average price target of $15.89.

Bowlero Stock Performance

The company has a 50 day simple moving average of $10.72 and a 200 day simple moving average of $11.27. The company has a market capitalization of $1.80 billion, a PE ratio of -20.13 and a beta of 0.70.

Institutional Investors Weigh In On Bowlero

Large investors have recently bought and sold shares of the company. Victory Capital Management Inc. boosted its holdings in shares of Bowlero by 13.1% during the 3rd quarter. Victory Capital Management Inc. now owns 33,099 shares of the company’s stock worth $389,000 after purchasing an additional 3,835 shares during the last quarter. Quest Partners LLC boosted its holdings in shares of Bowlero by 3,311,100.0% during the 3rd quarter. Quest Partners LLC now owns 33,112 shares of the company’s stock worth $389,000 after purchasing an additional 33,111 shares during the last quarter. King Luther Capital Management Corp boosted its holdings in shares of Bowlero by 51.0% during the 3rd quarter. King Luther Capital Management Corp now owns 356,105 shares of the company’s stock worth $4,181,000 after purchasing an additional 120,215 shares during the last quarter. Centiva Capital LP acquired a new position in shares of Bowlero during the 3rd quarter worth approximately $207,000. Finally, Janus Henderson Group PLC boosted its holdings 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 during the last quarter. 68.11% of the stock is currently owned by hedge funds and other institutional investors.

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.