Barclays PLC Grows Position in Bowlero Corp. (NYSE:BOWL)

Barclays PLC boosted its position in Bowlero Corp. (NYSE:BOWL) by 22.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,807 shares of the company’s stock after purchasing an additional 1,439 shares during the period. Barclays PLC’s holdings in Bowlero were worth $91,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Systematic Financial Management LP raised its stake in Bowlero by 24.0% during the 3rd quarter. Systematic Financial Management LP now owns 838,090 shares of the company’s stock valued at $9,839,000 after purchasing an additional 161,951 shares during the period. Portolan Capital Management LLC purchased a new position in Bowlero during the 3rd quarter valued at $8,281,000. Marshall Wace LLP boosted its holdings in Bowlero by 101.5% during the 2nd quarter. Marshall Wace LLP now owns 363,784 shares of the company’s stock valued at $5,271,000 after acquiring an additional 183,252 shares during the period. King Luther Capital Management Corp boosted its holdings in Bowlero by 51.0% during the 3rd quarter. King Luther Capital Management Corp now owns 356,105 shares of the company’s stock valued at $4,181,000 after acquiring an additional 120,215 shares during the period. Finally, State Street Corp lifted its holdings in shares of Bowlero by 43.2% in the 3rd quarter. State Street Corp now owns 285,534 shares of the company’s stock worth $3,352,000 after buying an additional 86,083 shares during the period. 68.11% of the stock is owned by hedge funds and other institutional investors.

Bowlero Trading Down 0.1 %

BOWL stock opened at $9.88 on Friday. The firm has a 50 day moving average of $11.01 and a 200-day moving average of $11.55. Bowlero Corp. has a 12-month low of $9.70 and a 12-month high of $15.47. The company has a market cap of $1.45 billion, a price-to-earnings ratio of -16.20 and a beta of 0.70.

Bowlero (NYSE:BOWL) last released its 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 net margin of 6.63% and a negative return on equity of 31.58%. The firm had revenue of $260.20 million during the quarter, compared to analysts’ expectations of $249.42 million. During the same period in the previous year, the company earned ($0.10) EPS. Sell-side analysts forecast that Bowlero Corp. will post 0.45 earnings per share for the current fiscal year.

Bowlero Dividend Announcement

The business also recently disclosed 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. The ex-dividend date was Friday, November 22nd. This represents a $0.22 annualized dividend and a dividend yield of 2.23%. Bowlero’s dividend payout ratio is presently -36.07%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Piper Sandler started coverage on Bowlero in a research report on Monday, October 28th. They issued a “neutral” rating and a $12.00 price target for the company. Canaccord Genuity Group reiterated a “buy” rating and set a $18.00 price objective on shares of Bowlero in a research note on Monday, September 30th. Royal Bank of Canada upgraded Bowlero to a “moderate buy” rating in a research report on Thursday, October 3rd. JPMorgan Chase & Co. decreased their price target on Bowlero from $16.00 to $15.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Finally, Truist Financial began coverage on Bowlero in a research note on Tuesday, December 10th. They issued a “buy” rating and a $16.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.