Victory Capital Management Inc. Raises Holdings in Bowlero Corp. (NYSE:BOWL)

Victory Capital Management Inc. boosted its stake in shares of Bowlero Corp. (NYSE:BOWL) by 13.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,099 shares of the company’s stock after purchasing an additional 3,835 shares during the quarter. Victory Capital Management Inc.’s holdings in Bowlero were worth $389,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of BOWL. Squarepoint Ops LLC boosted its position in shares of 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 acquiring an additional 164,603 shares in the last quarter. Marshall Wace LLP boosted 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 acquiring an additional 183,252 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Bowlero during the 2nd quarter worth about $411,000. Private Management Group Inc. boosted 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 acquiring an additional 32,076 shares in the last quarter. Finally, Lisanti Capital Growth LLC acquired a new position in shares of Bowlero during the 2nd quarter worth about $2,648,000. Hedge funds and other institutional investors own 68.11% of the company’s stock.

Wall Street Analyst Weigh In

BOWL has been the subject of several analyst reports. B. Riley reaffirmed a “buy” rating and set a $17.00 price objective on shares of Bowlero in a research report on Tuesday, September 3rd. Piper Sandler initiated coverage on Bowlero in a research report on Monday, October 28th. They issued a “neutral” rating and a $12.00 target price for the company. Canaccord Genuity Group reissued a “buy” rating and issued a $18.00 target price on shares of Bowlero in a research report on Monday, September 30th. Royal Bank of Canada raised Bowlero to a “moderate buy” rating in a research report on Thursday, October 3rd. Finally, JPMorgan Chase & Co. decreased their target price on Bowlero from $16.00 to $15.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.88.

Bowlero Trading Down 1.3 %

Shares of BOWL stock opened at $12.31 on Friday. The company has a market cap of $1.81 billion, a price-to-earnings ratio of -20.18 and a beta of 0.62. The stock has a 50 day simple moving average of $11.66 and a 200-day simple moving average of $12.20. Bowlero Corp. has a 12-month low of $9.70 and a 12-month high of $15.47.

Bowlero (NYSE:BOWL) last released its quarterly earnings data on Monday, November 4th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.30. Bowlero had a negative return on equity of 31.58% and a negative net margin of 6.63%. The firm had revenue of $260.20 million during the quarter, compared to the consensus estimate of $249.42 million. During the same period last year, the business posted ($0.10) EPS. On average, equities analysts forecast that Bowlero Corp. will post 0.45 earnings per share for the current fiscal year.

Bowlero Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be paid a $0.055 dividend. This represents a $0.22 annualized dividend and a yield of 1.79%. The ex-dividend date of this dividend is Friday, November 22nd. Bowlero’s payout ratio is currently -36.06%.

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.