Marshall Wace LLP Increases Stake in Bowlero Corp. (NYSE:BOWL)

Marshall Wace LLP increased its holdings in shares of Bowlero Corp. (NYSE:BOWL - Free Report) by 101.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 363,784 shares of the company's stock after purchasing an additional 183,252 shares during the quarter. Marshall Wace LLP owned 0.24% of Bowlero worth $5,271,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. PNC Financial Services Group Inc. grew its position in Bowlero by 47.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,800 shares of the company's stock worth $110,000 after purchasing an additional 2,500 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Bowlero by 7.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,953 shares of the company's stock worth $205,000 after acquiring an additional 978 shares during the period. Diversified Trust Co increased its position in Bowlero by 39.4% during the first quarter. Diversified Trust Co now owns 23,700 shares of the company's stock valued at $325,000 after acquiring an additional 6,700 shares during the last quarter. Summit Securities Group LLC bought a new position in Bowlero in the second quarter valued at about $392,000. Finally, XTX Topco Ltd purchased a new position in Bowlero in the second quarter worth about $411,000. 68.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on BOWL shares. Canaccord Genuity Group reaffirmed a "buy" rating and set a $18.00 price target on shares of Bowlero in a research report on Monday. B. Riley reaffirmed a "buy" rating and set a $17.00 target price on shares of Bowlero in a report on Tuesday, September 3rd. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Bowlero has an average rating of "Moderate Buy" and an average price target of $16.57.

Bowlero Stock Performance

Shares of BOWL traded up $0.18 during midday trading on Wednesday, hitting $11.49. 224,295 shares of the company traded hands, compared to its average volume of 846,171. Bowlero Corp. has a 52 week low of $8.85 and a 52 week high of $15.47. The firm has a 50 day moving average of $11.52 and a 200-day moving average of $12.42. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of 21.67 and a beta of 0.59.

Bowlero (NYSE:BOWL - Get Free Report) last issued its quarterly earnings results on Thursday, September 5th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.05). The firm had revenue of $283.87 million for the quarter, compared to the consensus estimate of $273.33 million. Bowlero had a negative net margin of 7.24% and a negative return on equity of 5.36%. Sell-side analysts predict that Bowlero Corp. will post 0.29 earnings per share for the current fiscal year.

Bowlero Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 23rd were issued a $0.055 dividend. The ex-dividend date was Friday, August 23rd. This represents a $0.22 dividend on an annualized basis and a dividend yield of 1.92%. Bowlero's payout ratio is 41.51%.

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.