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

Private Management Group Inc. lessened its holdings in shares of Bowlero Corp. (NYSE:BOWL) by 0.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,288,344 shares of the company’s stock after selling 2,044 shares during the period. Private Management Group Inc. owned approximately 0.87% of Bowlero worth $15,125,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BOWL. Boston Partners boosted its position in Bowlero by 6.0% during the first quarter. Boston Partners now owns 3,646,113 shares of the company’s stock worth $49,004,000 after purchasing an additional 205,902 shares in the last quarter. Champlain Investment Partners LLC boosted its position in Bowlero by 10.8% during the first quarter. Champlain Investment Partners LLC now owns 2,817,305 shares of the company’s stock worth $38,597,000 after purchasing an additional 275,525 shares in the last quarter. Marshall Wace LLP boosted its position in Bowlero by 101.5% during the second quarter. Marshall Wace LLP now owns 363,784 shares of the company’s stock worth $5,271,000 after purchasing an additional 183,252 shares in the last quarter. Lisanti Capital Growth LLC purchased a new stake in Bowlero during the second quarter worth $2,648,000. Finally, Russell Investments Group Ltd. purchased a new stake in Bowlero during the first quarter worth $1,636,000. Institutional investors and hedge funds own 68.11% of the company’s stock.

Analyst Upgrades and Downgrades

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

Bowlero Stock Performance

NYSE BOWL traded down $0.04 during trading hours on Friday, hitting $10.33. 593,507 shares of the company’s stock were exchanged, compared to its average volume of 804,281. The business’s 50 day moving average is $11.50 and its 200-day moving average is $12.18. Bowlero Corp. has a 12-month low of $8.85 and a 12-month high of $15.47. The firm 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 released its earnings results on Thursday, September 5th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.05). Bowlero had a negative return on equity of 5.36% and a negative net margin of 7.24%. The business had revenue of $283.87 million for the quarter, compared to analysts’ expectations of $273.33 million. As a group, equities research analysts anticipate that Bowlero Corp. will post 0.28 EPS for the current fiscal year.

Bowlero Dividend Announcement

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 dividend of $0.055 per share. The ex-dividend date was Friday, August 23rd. This represents a $0.22 annualized dividend and a yield of 2.13%. Bowlero’s dividend payout ratio (DPR) is presently -33.85%.

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.