Bowlero Corp. (NYSE:BOWL) Shares Purchased by Systematic Financial Management LP

Systematic Financial Management LP boosted its holdings in Bowlero Corp. (NYSE:BOWL) by 24.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 838,090 shares of the company’s stock after buying an additional 161,951 shares during the quarter. Systematic Financial Management LP owned 0.57% of Bowlero worth $9,839,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Lisanti Capital Growth LLC acquired a new position in Bowlero in the second quarter worth approximately $2,648,000. King Luther Capital Management Corp grew its position in Bowlero by 51.0% during the 3rd quarter. King Luther Capital Management Corp now owns 356,105 shares of the company’s stock worth $4,181,000 after purchasing an additional 120,215 shares in the last quarter. Marshall Wace LLP grew its position in Bowlero by 101.5% during the 2nd quarter. Marshall Wace LLP now owns 363,784 shares of the company’s stock worth $5,271,000 after purchasing an additional 183,252 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Bowlero by 7.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,953 shares of the company’s stock worth $205,000 after purchasing an additional 978 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in Bowlero by 63.3% during the 2nd quarter. Victory Capital Management Inc. now owns 29,264 shares of the company’s stock worth $424,000 after purchasing an additional 11,341 shares in the last quarter. Institutional investors and hedge funds own 68.11% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Canaccord Genuity Group reiterated a “buy” rating and set a $18.00 price objective on shares of Bowlero in a research report on Monday, September 30th. Royal Bank of Canada upgraded shares of Bowlero to a “moderate buy” rating in a research report on Thursday, October 3rd. JPMorgan Chase & Co. lowered their price objective on shares of Bowlero from $16.00 to $15.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Piper Sandler assumed coverage on shares of Bowlero in a report on Monday, October 28th. They set a “neutral” rating and a $12.00 price target on the stock. Finally, B. Riley restated a “buy” rating and set a $17.00 price target on shares of Bowlero in a report on Tuesday, September 3rd. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $15.88.

Bowlero Price Performance

Bowlero stock opened at $11.47 on Friday. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of -18.80 and a beta of 0.70. Bowlero Corp. has a fifty-two week low of $9.70 and a fifty-two week high of $15.47. The firm has a fifty day moving average price of $11.70 and a two-hundred day moving average price of $12.20.

Bowlero (NYSE:BOWL) last released its earnings results on Monday, November 4th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.30. The firm had revenue of $260.20 million during 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 quarter in the previous year, the business earned ($0.10) EPS. As a group, sell-side 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 will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be given a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend is Friday, November 22nd. Bowlero’s dividend payout ratio is -36.07%.

Bowlero Company 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.