Ionic Capital Management LLC Sells 87,302 Shares of Bowlero Corp. (NYSE:BOWL)

Ionic Capital Management LLC reduced its stake in shares of Bowlero Corp. (NYSE:BOWL) by 55.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 69,517 shares of the company’s stock after selling 87,302 shares during the quarter. Ionic Capital Management LLC’s holdings in Bowlero were worth $816,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Marshall Wace LLP increased its holdings in 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 during the last quarter. Lisanti Capital Growth LLC bought a new stake in shares of Bowlero in the second quarter worth approximately $2,648,000. Squarepoint Ops LLC lifted 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 valued at $1,200,000 after buying an additional 164,603 shares in the last quarter. King Luther Capital Management Corp lifted its position 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 worth $4,181,000 after buying an additional 120,215 shares in the last quarter. Finally, Quest Partners LLC grew its holdings in Bowlero by 3,311,100.0% during the 3rd 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 last quarter. 68.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Bowlero Stock Performance

NYSE BOWL opened at $12.41 on Tuesday. Bowlero Corp. has a fifty-two week low of $9.70 and a fifty-two week high of $15.47. The business’s 50 day moving average price is $11.66 and its 200-day moving average price is $12.20. The company has a market cap of $1.82 billion, a P/E ratio of -20.34 and a beta of 0.69.

Bowlero (NYSE:BOWL) last posted its quarterly earnings results 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. The business had revenue of $260.20 million during the quarter, compared to analysts’ expectations 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 quarter in the prior year, the company posted ($0.10) EPS. As a group, equities analysts predict that Bowlero Corp. will post 0.45 EPS for the current year.

Bowlero Dividend Announcement

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

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.