Bleakley Financial Group LLC Sells 8,946 Shares of Bowlero Corp. (NYSE:BOWL)

Bleakley Financial Group LLC reduced its position in shares of Bowlero Corp. (NYSE:BOWL) by 24.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 27,017 shares of the company’s stock after selling 8,946 shares during the quarter. Bleakley Financial Group LLC’s holdings in Bowlero were worth $317,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Squarepoint Ops LLC raised its holdings in Bowlero by 201.2% during the 2nd quarter. Squarepoint Ops LLC now owns 82,803 shares of the company’s stock worth $1,200,000 after purchasing an additional 164,603 shares during the last quarter. Marshall Wace LLP grew its position in shares of Bowlero by 101.5% during the 2nd quarter. Marshall Wace LLP now owns 363,784 shares of the company’s stock worth $5,271,000 after buying an additional 183,252 shares during the period. XTX Topco Ltd acquired a new position in shares of Bowlero during the 2nd quarter worth about $411,000. Private Management Group Inc. grew its position in shares of Bowlero by 2.5% during the 2nd quarter. Private Management Group Inc. now owns 1,290,388 shares of the company’s stock worth $18,698,000 after buying an additional 32,076 shares during the period. Finally, Victory Capital Management Inc. grew its position in shares of Bowlero by 63.3% during the 2nd quarter. Victory Capital Management Inc. now owns 29,264 shares of the company’s stock worth $424,000 after buying an additional 11,341 shares during the period. 68.11% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BOWL has been the subject of several research analyst reports. B. Riley reiterated a “buy” rating and issued a $17.00 price objective on shares of Bowlero in a research report on Tuesday, September 3rd. Royal Bank of Canada upgraded Bowlero to a “moderate buy” rating in a research report on Thursday, October 3rd. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $18.00 price objective on shares of Bowlero in a research report on Monday, September 30th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Bowlero has an average rating of “Moderate Buy” and an average price target of $16.57.

Bowlero Stock Down 0.5 %

Shares of BOWL opened at $11.95 on Wednesday. The stock has a market capitalization of $1.78 billion, a P/E ratio of 22.55 and a beta of 0.60. Bowlero Corp. has a twelve month low of $8.85 and a twelve month high of $15.47. The company has a 50 day moving average of $11.52 and a 200-day moving average of $12.27.

Bowlero (NYSE:BOWL) last issued its quarterly 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). The business had revenue of $283.87 million for 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%. On average, sell-side analysts anticipate that Bowlero Corp. will post 0.29 earnings per share for the current fiscal year.

Bowlero Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 23rd were issued a $0.055 dividend. This represents a $0.22 annualized dividend and a dividend yield of 1.84%. The ex-dividend date was Friday, August 23rd. Bowlero’s payout ratio is presently 41.51%.

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.