Charles Schwab Investment Management Inc. Sells 42,878 Shares of Bowlero Corp. (NYSE:BOWL)

Charles Schwab Investment Management Inc. lowered its holdings in Bowlero Corp. (NYSE:BOWL) by 20.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 163,395 shares of the company’s stock after selling 42,878 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.11% of Bowlero worth $1,918,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BOWL. Marshall Wace LLP increased its holdings in shares of 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 buying an additional 183,252 shares in the last quarter. Lisanti Capital Growth LLC acquired a new position in Bowlero in the second quarter worth $2,648,000. Squarepoint Ops LLC grew its holdings in shares of Bowlero by 201.2% during the second 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. King Luther Capital Management Corp increased its stake in shares of Bowlero by 51.0% in the third quarter. King Luther Capital Management Corp now owns 356,105 shares of the company’s stock valued at $4,181,000 after buying an additional 120,215 shares in the last quarter. Finally, Quest Partners LLC raised its holdings in shares of Bowlero by 3,311,100.0% in the third quarter. Quest Partners LLC now owns 33,112 shares of the company’s stock valued at $389,000 after buying an additional 33,111 shares during the last quarter. Institutional investors own 68.11% of the company’s stock.

Bowlero Price Performance

NYSE:BOWL opened at $10.52 on Tuesday. The business’s 50-day simple moving average is $11.69 and its 200-day simple moving average is $12.17. Bowlero Corp. has a fifty-two week low of $9.70 and a fifty-two week high of $15.47. The stock has a market capitalization of $1.55 billion, a PE ratio of -17.25 and a beta of 0.70.

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

Bowlero Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 22nd were given a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend was Friday, November 22nd. Bowlero’s dividend payout ratio is presently -36.07%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BOWL. JPMorgan Chase & Co. dropped their target price on shares of Bowlero from $16.00 to $15.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Piper Sandler started coverage on Bowlero in a research note on Monday, October 28th. They issued a “neutral” rating and a $12.00 target price for the company. B. Riley reaffirmed a “buy” rating and set a $17.00 price target on shares of Bowlero in a research note 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 set a $18.00 price target on shares of Bowlero in a research report on Monday, September 30th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Bowlero presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.89.

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.