Sei Investments Co. Sells 45,925 Shares of Bowlero Corp. (NYSE:BOWL)

Sei Investments Co. cut its position in shares of Bowlero Corp. (NYSE:BOWL - Free Report) by 41.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 65,597 shares of the company's stock after selling 45,925 shares during the period. Sei Investments Co.'s holdings in Bowlero were worth $951,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its stake in shares of 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 purchasing an additional 978 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Bowlero by 47.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,800 shares of the company's stock valued at $110,000 after acquiring an additional 2,500 shares during the period. Bessemer Group Inc. boosted its stake in shares of Bowlero by 12.3% in the 1st quarter. Bessemer Group Inc. now owns 37,200 shares of the company's stock valued at $509,000 after purchasing an additional 4,070 shares in the last quarter. Schwartz Investment Counsel Inc. grew its holdings in shares of Bowlero by 5.2% in the 2nd quarter. Schwartz Investment Counsel Inc. now owns 94,400 shares of the company's stock worth $1,368,000 after purchasing an additional 4,700 shares during the last quarter. Finally, Diversified Trust Co grew its holdings in shares of Bowlero by 39.4% in the 1st quarter. Diversified Trust Co now owns 23,700 shares of the company's stock worth $325,000 after purchasing an additional 6,700 shares during the last quarter. 68.11% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BOWL has been the topic of a number of recent analyst reports. Royal Bank of Canada upgraded shares of Bowlero to a "moderate buy" rating in a research report on Thursday, October 3rd. Canaccord Genuity Group restated a "buy" rating and set a $18.00 price target on shares of Bowlero in a research report on Monday, September 30th. Finally, B. Riley reiterated a "buy" rating and issued a $17.00 price objective on shares of Bowlero in a research report on Tuesday, September 3rd. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $16.57.

Bowlero Price Performance

Shares of BOWL stock traded down $0.08 on Tuesday, reaching $11.64. 664,604 shares of the stock were exchanged, compared to its average volume of 839,720. The stock has a 50 day moving average price of $11.47 and a 200 day moving average price of $12.38. The stock has a market cap of $1.73 billion, a PE ratio of 21.98 and a beta of 0.60. Bowlero Corp. has a one year low of $8.85 and a one year high of $15.47.

Bowlero (NYSE:BOWL - Get Free Report) last announced its quarterly earnings data on Thursday, September 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.05). The business had revenue of $283.87 million during 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%. On average, research analysts expect that Bowlero Corp. will post 0.29 earnings per share for the current fiscal year.

Bowlero Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 23rd were given a dividend of $0.055 per share. The ex-dividend date was Friday, August 23rd. This represents a $0.22 annualized dividend and a dividend yield of 1.89%. Bowlero's payout ratio is currently 41.51%.

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.