Bowlero Corp. (NYSE:BOWL) Shares Sold by ArrowMark Colorado Holdings LLC

ArrowMark Colorado Holdings LLC trimmed its holdings in Bowlero Corp. (NYSE:BOWL - Free Report) by 43.9% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 793,208 shares of the company's stock after selling 621,267 shares during the period. ArrowMark Colorado Holdings LLC owned 0.54% of Bowlero worth $9,312,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its stake in Bowlero by 7.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,953 shares of the company's stock valued at $205,000 after buying an additional 978 shares during the period. Janus Henderson Group PLC raised its holdings in Bowlero by 76.9% during the first quarter. Janus Henderson Group PLC now owns 46,617 shares of the company's stock worth $639,000 after purchasing an additional 20,259 shares in the last quarter. Schwartz Investment Counsel Inc. lifted its position in Bowlero by 5.2% in the second quarter. Schwartz Investment Counsel Inc. now owns 94,400 shares of the company's stock valued at $1,368,000 after purchasing an additional 4,700 shares during the period. Summit Securities Group LLC acquired a new stake in Bowlero in the second quarter valued at about $392,000. Finally, Lisanti Capital Growth LLC purchased a new stake in Bowlero in the 2nd quarter valued at approximately $2,648,000. Institutional investors and hedge funds own 68.11% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Canaccord Genuity Group reissued a "buy" rating and issued a $18.00 price target on shares of Bowlero in a report on Monday, September 30th. B. Riley restated a "buy" rating and set a $17.00 target price on shares of Bowlero in a research report on Tuesday, September 3rd. Piper Sandler started coverage on shares of Bowlero in a report on Monday, October 28th. They issued a "neutral" rating and a $12.00 price target for the company. JPMorgan Chase & Co. dropped their target price on shares of Bowlero from $16.00 to $15.00 and set an "overweight" rating for the company in a report on Tuesday, November 5th. Finally, Royal Bank of Canada upgraded Bowlero to a "moderate buy" rating in a report on Thursday, October 3rd. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $15.88.

Bowlero Stock Performance

NYSE BOWL traded down $0.38 during mid-day trading on Tuesday, reaching $12.03. 348,960 shares of the stock were exchanged, compared to its average volume of 801,460. The stock has a market capitalization of $1.77 billion, a PE ratio of -20.34 and a beta of 0.69. Bowlero Corp. has a 1-year low of $9.70 and a 1-year high of $15.47. The business's fifty day simple moving average is $11.66 and its 200 day simple moving average is $12.20.

Bowlero (NYSE:BOWL - Get Free Report) last released its earnings results on Monday, November 4th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.30. Bowlero had a negative return on equity of 31.58% and a negative net margin of 6.63%. The firm had revenue of $260.20 million for the quarter, compared to the consensus estimate of $249.42 million. During the same period in the prior year, the business posted ($0.10) earnings per share. On average, analysts anticipate that Bowlero Corp. will post 0.45 EPS for the current year.

Bowlero Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be paid a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date is Friday, November 22nd. Bowlero's dividend payout ratio is currently -36.06%.

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.