Millennium Management LLC Lowers Stock Holdings in Bowlero Corp. (NYSE:BOWL)

Millennium Management LLC trimmed its position in shares of Bowlero Corp. (NYSE:BOWL - Free Report) by 38.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 641,110 shares of the company's stock after selling 402,679 shares during the quarter. Millennium Management LLC owned 0.43% of Bowlero worth $9,290,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Russell Investments Group Ltd. purchased a new stake in shares of Bowlero during the first quarter worth $1,636,000. Boston Partners increased its holdings in Bowlero by 6.0% during the 1st quarter. Boston Partners now owns 3,646,113 shares of the company's stock worth $49,004,000 after purchasing an additional 205,902 shares during the period. Champlain Investment Partners LLC increased its holdings in Bowlero by 10.8% during the 1st quarter. Champlain Investment Partners LLC now owns 2,817,305 shares of the company's stock worth $38,597,000 after purchasing an additional 275,525 shares during the period. Lisanti Capital Growth LLC acquired a new stake in Bowlero in the 2nd quarter valued at about $2,648,000. Finally, Marshall Wace LLP boosted its stake in shares of Bowlero by 101.5% in the 2nd quarter. Marshall Wace LLP now owns 363,784 shares of the company's stock valued at $5,271,000 after buying an additional 183,252 shares during the period. 68.11% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Bowlero Price Performance

Shares of NYSE:BOWL traded up $0.06 during trading on Wednesday, hitting $11.71. 749,990 shares of the company were exchanged, compared to its average volume of 839,259. The firm's 50 day moving average price is $11.44 and its 200-day moving average price is $12.37. Bowlero Corp. has a 12-month low of $8.85 and a 12-month high of $15.47. The stock has a market capitalization of $1.74 billion, a P/E ratio of 22.09 and a beta of 0.60.

Bowlero (NYSE:BOWL - Get Free Report) last announced 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). Bowlero had a negative return on equity of 5.36% and a negative net margin of 7.24%. The company had revenue of $283.87 million for the quarter, compared to analyst estimates of $273.33 million. As a group, equities research analysts anticipate that Bowlero Corp. will post 0.29 EPS for the current year.

Bowlero Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 23rd were given 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 1.88%. Bowlero's dividend payout ratio (DPR) is presently 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.