Systematic Financial Management LP Has $9.84 Million Position in Bowlero Corp. (NYSE:BOWL)

Systematic Financial Management LP boosted its holdings in Bowlero Corp. (NYSE:BOWL - Free Report) by 24.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 838,090 shares of the company's stock after acquiring an additional 161,951 shares during the quarter. Systematic Financial Management LP owned 0.57% of Bowlero worth $9,839,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in BOWL. Portolan Capital Management LLC bought a new stake in Bowlero in the third quarter valued at about $8,281,000. Marshall Wace LLP increased its stake in Bowlero by 101.5% in 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. Lisanti Capital Growth LLC bought a new stake in Bowlero in the second quarter valued at about $2,648,000. Squarepoint Ops LLC increased its stake in Bowlero by 201.2% in the second quarter. Squarepoint Ops LLC now owns 82,803 shares of the company's stock valued at $1,200,000 after acquiring an additional 164,603 shares during the period. Finally, King Luther Capital Management Corp increased its stake in Bowlero by 51.0% in the third 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. Institutional investors own 68.11% of the company's stock.

Analyst Ratings Changes

BOWL has been the topic of several research analyst reports. B. Riley reaffirmed a "buy" rating and set a $17.00 price objective on shares of Bowlero in a research note on Tuesday, September 3rd. Royal Bank of Canada raised shares of Bowlero to a "moderate buy" rating in a research note on Thursday, October 3rd. Piper Sandler initiated coverage on shares of Bowlero in a research note on Monday, October 28th. They set a "neutral" rating and a $12.00 price objective on the stock. Canaccord Genuity Group reaffirmed a "buy" rating and set a $18.00 price objective on shares of Bowlero in a research note on Monday, September 30th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Bowlero from $16.00 to $15.00 and set an "overweight" rating on the stock in a research note on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $15.88.

Bowlero Price Performance

Shares of BOWL stock traded up $0.40 during trading hours on Friday, reaching $11.87. 441,329 shares of the company were exchanged, compared to its average volume of 799,292. Bowlero Corp. has a fifty-two week low of $9.70 and a fifty-two week high of $15.47. The stock's fifty day moving average is $11.70 and its two-hundred day moving average is $12.20. The company has a market cap of $1.74 billion, a price-to-earnings ratio of -18.80 and a beta of 0.70.

Bowlero (NYSE:BOWL - Get Free Report) last announced its earnings results on Monday, November 4th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $260.20 million for the quarter, compared to analyst estimates of $249.42 million. During the same period in the prior year, the business earned ($0.10) earnings per share. On average, research analysts anticipate that Bowlero Corp. will post 0.45 earnings per share for the current year.

Bowlero Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be issued a $0.055 dividend. The ex-dividend date is Friday, November 22nd. This represents a $0.22 annualized dividend and a yield of 1.85%. Bowlero's dividend payout ratio is currently -36.07%.

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.