Mesirow Financial Investment Management Inc. Trims Position in Bowlero Corp. (NYSE:BOWL)

Mesirow Financial Investment Management Inc. trimmed its stake in Bowlero Corp. (NYSE:BOWL) by 38.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,212 shares of the company’s stock after selling 6,887 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Bowlero were worth $132,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Russell Investments Group Ltd. purchased a new stake in shares of Bowlero in the 1st quarter worth $1,636,000. Bleakley Financial Group LLC grew its holdings in Bowlero by 52.4% during the 1st quarter. Bleakley Financial Group LLC now owns 40,971 shares of the company’s stock worth $561,000 after acquiring an additional 14,081 shares in the last quarter. Champlain Investment Partners LLC grew 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 acquiring an additional 275,525 shares in the last quarter. Bessemer Group Inc. increased its position in Bowlero by 12.3% during 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 during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings 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 in the last quarter. 68.11% of the stock is currently owned by institutional investors.

Bowlero Price Performance

Shares of NYSE BOWL opened at $11.46 on Thursday. Bowlero Corp. has a fifty-two week low of $9.70 and a fifty-two week high of $15.47. The business has a 50-day simple moving average of $11.54 and a two-hundred day simple moving average of $12.18.

Bowlero (NYSE:BOWL) last released its earnings results on Monday, November 4th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.30. Bowlero had a negative net margin of 6.63% and a negative return on equity of 31.58%. The company had revenue of $260.20 million during the quarter, compared to analysts’ expectations of $249.42 million. During the same period last year, the business earned ($0.10) EPS. As a group, equities research analysts forecast that Bowlero Corp. will post 0.4 earnings per share for the current fiscal year.

Bowlero Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be given a $0.055 dividend. This represents a $0.22 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend is Friday, November 22nd. Bowlero’s payout ratio is -36.06%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on BOWL shares. Piper Sandler initiated coverage on shares of Bowlero in a research note on Monday, October 28th. They set a “neutral” rating and a $12.00 price objective on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and set a $18.00 target price on shares of Bowlero in a research report on Monday, September 30th. B. Riley reissued a “buy” rating and issued a $17.00 price target on shares of Bowlero in a research report on Tuesday, September 3rd. Royal Bank of Canada raised Bowlero to a “moderate buy” rating in a research report on Thursday, October 3rd. Finally, JPMorgan Chase & Co. reduced 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. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $15.88.

Bowlero 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.