Bowlero Corp. (NYSE:BOWL) Stake Lowered by ArrowMark Colorado Holdings LLC

ArrowMark Colorado Holdings LLC trimmed its position in shares of Bowlero Corp. (NYSE:BOWL) by 43.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 793,208 shares of the company’s stock after selling 621,267 shares during the period. ArrowMark Colorado Holdings LLC’s holdings in Bowlero were worth $9,312,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. King Luther Capital Management Corp raised its stake in shares of Bowlero by 51.0% in 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 in the last quarter. Quest Partners LLC raised its position 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 purchasing an additional 33,111 shares during the period. Victory Capital Management Inc. boosted its holdings 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 worth $389,000 after buying an additional 3,835 shares during the period. Squarepoint Ops LLC lifted its position 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 acquiring an additional 164,603 shares during the last quarter. Finally, Marshall Wace LLP boosted its holdings in Bowlero by 101.5% during the second 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. 68.11% of the stock is currently owned by hedge funds and other institutional investors.

Bowlero Stock Performance

Shares of NYSE:BOWL opened at $12.41 on Tuesday. The company’s fifty day moving average is $11.66 and its 200-day moving average is $12.20. Bowlero Corp. has a 52 week low of $9.70 and a 52 week high of $15.47.

Bowlero (NYSE:BOWL) last released its quarterly earnings results on Monday, November 4th. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.30. The firm 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 in the previous year, the business earned ($0.10) earnings per share. As a group, equities research analysts anticipate that Bowlero Corp. will post 0.45 earnings per share for the current fiscal year.

Bowlero Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be given a dividend of $0.055 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.22 dividend on an annualized basis and a yield of 1.77%. Bowlero’s dividend payout ratio (DPR) is presently -36.06%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on BOWL. B. Riley reaffirmed a “buy” rating and issued a $17.00 price target on shares of Bowlero in a research report on Tuesday, September 3rd. Royal Bank of Canada upgraded shares of Bowlero to a “moderate buy” rating in a research note on Thursday, October 3rd. Canaccord Genuity Group restated a “buy” rating and issued a $18.00 price target on shares of Bowlero in a research report on Monday, September 30th. JPMorgan Chase & Co. cut their price objective 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. Finally, Piper Sandler assumed coverage on Bowlero in a research report on Monday, October 28th. They set a “neutral” rating and a $12.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $15.88.

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.