UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Trims Position in Bowlero Corp. (NYSE:BOWL)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its holdings in shares of Bowlero Corp. (NYSE:BOWL) by 16.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,333 shares of the company’s stock after selling 8,838 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Bowlero were worth $509,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. Victory Capital Management Inc. increased its position in shares of Bowlero by 13.1% during the 3rd quarter. Victory Capital Management Inc. now owns 33,099 shares of the company’s stock valued at $389,000 after purchasing an additional 3,835 shares during the last quarter. Summit Securities Group LLC purchased a new position in Bowlero during the 2nd quarter valued at about $392,000. XTX Topco Ltd bought a new position in shares of Bowlero during the second quarter valued at approximately $411,000. Private Management Group Inc. lifted its position in shares of Bowlero by 2.5% in the 2nd quarter. Private Management Group Inc. now owns 1,290,388 shares of the company’s stock worth $18,698,000 after purchasing an additional 32,076 shares during the period. Finally, Quest Partners LLC grew its holdings in shares of Bowlero by 3,311,100.0% during the 3rd quarter. Quest Partners LLC now owns 33,112 shares of the company’s stock worth $389,000 after acquiring an additional 33,111 shares during the period. 68.11% of the stock is currently owned by institutional investors.

Bowlero Price Performance

Shares of BOWL stock opened at $10.23 on Friday. The stock has a market cap of $1.50 billion, a P/E ratio of -16.77 and a beta of 0.70. Bowlero Corp. has a 52 week low of $9.70 and a 52 week high of $15.47. The company’s fifty day simple moving average is $11.59 and its two-hundred day simple moving average is $12.12.

Bowlero (NYSE:BOWL) last released its quarterly earnings results on Monday, November 4th. The company reported $0.13 EPS for the quarter, topping 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 company had revenue of $260.20 million during the quarter, compared to analyst estimates of $249.42 million. During the same quarter last year, the business posted ($0.10) earnings per share. On average, analysts anticipate that Bowlero Corp. will post 0.45 EPS for the current fiscal year.

Bowlero Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were paid a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend was Friday, November 22nd. Bowlero’s dividend payout ratio is currently -36.07%.

Analyst Ratings Changes

BOWL has been the subject of a number of recent research reports. JPMorgan Chase & Co. lowered their price target on shares of Bowlero from $16.00 to $15.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Piper Sandler began coverage on shares of Bowlero in a report on Monday, October 28th. They issued a “neutral” rating and a $12.00 target price on the stock. 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. Truist Financial began coverage on shares of Bowlero in a report on Tuesday, December 10th. They issued a “buy” rating and a $16.00 price objective on the stock. Finally, Royal Bank of Canada raised shares of Bowlero to a “moderate buy” rating in a research report on Thursday, October 3rd. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $15.89.

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.