Lisanti Capital Growth LLC Takes Position in Bowlero Corp. (NYSE:BOWL)

Lisanti Capital Growth LLC purchased a new position in shares of Bowlero Corp. (NYSE:BOWL) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 182,750 shares of the company’s stock, valued at approximately $2,648,000.

Other institutional investors have also recently made changes to their positions in the company. Russell Investments Group Ltd. purchased a new stake in Bowlero in the first quarter valued at $1,636,000. Boston Partners raised its holdings in Bowlero by 7.4% in the 4th quarter. Boston Partners now owns 3,440,211 shares of the company’s stock valued at $47,632,000 after buying an additional 236,060 shares during the period. Champlain Investment Partners LLC lifted its position in Bowlero by 10.8% in the first quarter. Champlain Investment Partners LLC now owns 2,817,305 shares of the company’s stock valued at $38,597,000 after buying an additional 275,525 shares during the last quarter. Diversified Trust Co boosted its stake in Bowlero by 39.4% during the first quarter. Diversified Trust Co now owns 23,700 shares of the company’s stock worth $325,000 after buying an additional 6,700 shares during the period. Finally, Janus Henderson Group PLC increased its position in shares of Bowlero by 76.9% during the first quarter. Janus Henderson Group PLC now owns 46,617 shares of the company’s stock valued at $639,000 after acquiring an additional 20,259 shares during the last quarter. Hedge funds and other institutional investors own 68.11% of the company’s stock.

Bowlero Stock Performance

Shares of NYSE:BOWL traded down $0.04 on Friday, hitting $11.05. 418,098 shares of the company’s stock were exchanged, compared to its average volume of 379,925. The firm’s 50-day moving average is $12.69 and its 200 day moving average is $12.66. The company has a market capitalization of $1.65 billion, a PE ratio of 20.85 and a beta of 0.62. Bowlero Corp. has a 1-year low of $8.85 and a 1-year high of $15.47.

Bowlero Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Friday, August 23rd will be given a dividend of $0.055 per share. The ex-dividend date is Friday, August 23rd. This represents a $0.22 annualized dividend and a dividend yield of 1.99%. Bowlero’s dividend payout ratio is presently 41.51%.

Insider Activity

In other Bowlero news, Director Michelle D. Wilson sold 65,829 shares of Bowlero stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $12.90, for a total transaction of $849,194.10. Following the transaction, the director now owns 848,471 shares of the company’s stock, valued at $10,945,275.90. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Bowlero news, Director Michelle D. Wilson sold 65,829 shares of the firm’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $12.90, for a total transaction of $849,194.10. Following the transaction, the director now directly owns 848,471 shares of the company’s stock, valued at approximately $10,945,275.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michelle D. Wilson sold 39,309 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $13.98, for a total transaction of $549,539.82. Following the completion of the sale, the director now directly owns 958,162 shares of the company’s stock, valued at $13,395,104.76. The disclosure for this sale can be found here. Company insiders own 56.54% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Roth Mkm dropped their target price on shares of Bowlero from $17.00 to $15.00 and set a “buy” rating for the company in a report on Tuesday, May 7th. Craig Hallum lifted their price objective on shares of Bowlero from $17.00 to $18.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. CJS Securities reiterated a “market perform” rating on shares of Bowlero in a report on Tuesday, May 7th. Stifel Nicolaus cut their price target on Bowlero from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Tuesday, May 7th. Finally, B. Riley reiterated a “buy” rating and issued a $17.00 price objective on shares of Bowlero in a research note on Tuesday, June 25th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $16.57.

Bowlero 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.