Bowlero Corp. (NYSE:BOWL) Shares Sold by Private Management Group Inc.

Private Management Group Inc. cut its position in shares of Bowlero Corp. (NYSE:BOWL) by 0.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,288,344 shares of the company’s stock after selling 2,044 shares during the quarter. Private Management Group Inc.’s holdings in Bowlero were worth $15,125,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Champlain Investment Partners LLC grew its stake in shares of 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 in the last quarter. Boston Partners grew its stake in shares of Bowlero by 6.0% in the first quarter. Boston Partners now owns 3,646,113 shares of the company’s stock valued at $49,004,000 after buying an additional 205,902 shares in the last quarter. Marshall Wace LLP grew its stake in shares of Bowlero by 101.5% in the second quarter. Marshall Wace LLP now owns 363,784 shares of the company’s stock valued at $5,271,000 after buying an additional 183,252 shares in the last quarter. Lisanti Capital Growth LLC acquired a new stake in shares of Bowlero in the second quarter valued at about $2,648,000. Finally, Squarepoint Ops LLC grew its stake in shares of Bowlero by 201.2% in the second quarter. Squarepoint Ops LLC now owns 82,803 shares of the company’s stock valued at $1,200,000 after buying an additional 164,603 shares in the last quarter. 68.11% of the stock is currently owned by institutional investors and hedge funds.

Bowlero Stock Down 0.4 %

NYSE:BOWL traded down $0.04 during trading hours on Friday, reaching $10.33. 593,507 shares of the stock were exchanged, compared to its average volume of 804,281. The firm has a 50 day simple moving average of $11.50 and a 200-day simple moving average of $12.18. Bowlero Corp. has a 52 week low of $8.85 and a 52 week high of $15.47. The stock has a market capitalization of $1.52 billion, a P/E ratio of -15.89 and a beta of 0.60.

Bowlero (NYSE:BOWL) last announced its quarterly earnings results on Thursday, September 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.05). The company had revenue of $283.87 million during the quarter, compared to the consensus estimate of $273.33 million. Bowlero had a negative return on equity of 5.36% and a negative net margin of 7.24%. As a group, analysts expect that Bowlero Corp. will post 0.28 earnings per share for the current year.

Bowlero Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 23rd were given a $0.055 dividend. This represents a $0.22 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend was Friday, August 23rd. Bowlero’s dividend payout ratio is currently -33.85%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on BOWL shares. Royal Bank of Canada raised Bowlero to a “moderate buy” rating in a report on Thursday, October 3rd. Piper Sandler started coverage on Bowlero in a report on Monday, October 28th. They issued a “neutral” rating and a $12.00 price target for the company. B. Riley reissued a “buy” rating and issued a $17.00 price target on shares of Bowlero in a report on Tuesday, September 3rd. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $18.00 price target on shares of Bowlero in a report on Monday, September 30th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $16.00.

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.