Bowlero Corp. (NYSE:BOWL) Shares Sold by Telemark Asset Management LLC

Telemark Asset Management LLC lowered its holdings in shares of Bowlero Corp. (NYSE:BOWL - Free Report) by 63.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 500,000 shares of the company's stock after selling 875,000 shares during the quarter. Telemark Asset Management LLC owned 0.34% of Bowlero worth $5,870,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Boston Partners grew its stake in Bowlero by 6.0% in the 1st quarter. Boston Partners now owns 3,646,113 shares of the company's stock worth $49,004,000 after acquiring an additional 205,902 shares in the last quarter. Marshall Wace LLP grew its stake in Bowlero by 101.5% in the second quarter. Marshall Wace LLP now owns 363,784 shares of the company's stock worth $5,271,000 after purchasing an additional 183,252 shares in the last quarter. Lisanti Capital Growth LLC purchased a new position in Bowlero during the 2nd quarter worth $2,648,000. Squarepoint Ops LLC raised its position in Bowlero by 201.2% during the 2nd quarter. Squarepoint Ops LLC now owns 82,803 shares of the company's stock valued at $1,200,000 after purchasing an additional 164,603 shares in the last quarter. Finally, King Luther Capital Management Corp raised its position in Bowlero by 51.0% during the 3rd quarter. King Luther Capital Management Corp now owns 356,105 shares of the company's stock valued at $4,181,000 after purchasing an additional 120,215 shares in the last quarter. Hedge funds and other institutional investors own 68.11% of the company's stock.

Analysts Set New Price Targets

BOWL has been the topic of a number of recent research reports. Royal Bank of Canada raised Bowlero to a "moderate buy" rating in a research report on Thursday, October 3rd. B. Riley reissued a "buy" rating and set a $17.00 target price on shares of Bowlero in a research report on Tuesday, September 3rd. Piper Sandler initiated 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 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. Finally, Canaccord Genuity Group reissued a "buy" rating and issued a $18.00 price objective on shares of Bowlero in a research note on Monday, September 30th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $15.88.

Bowlero Price Performance

NYSE:BOWL traded down $0.01 during midday trading on Friday, hitting $11.82. The company's stock had a trading volume of 238,100 shares, compared to its average volume of 806,986. Bowlero Corp. has a fifty-two week low of $9.70 and a fifty-two week high of $15.47. The firm has a market cap of $1.74 billion, a P/E ratio of -19.39 and a beta of 0.62. The firm's 50 day moving average is $11.60 and its 200-day moving average is $12.15.

Bowlero (NYSE:BOWL - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The company reported $0.13 earnings per share for the quarter, beating analysts' consensus estimates 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 business had revenue of $260.20 million during the quarter, compared to analyst estimates of $249.42 million. During the same quarter last year, the business posted ($0.10) EPS. As a group, analysts forecast that Bowlero Corp. will post 0.45 EPS for the current year.

Bowlero Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be issued a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a dividend yield of 1.86%. The ex-dividend date is Friday, November 22nd. Bowlero's dividend payout ratio (DPR) is -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.