XTX Topco Ltd Reduces Stock Position in Bowlero Corp. (NYSE:BOWL)

XTX Topco Ltd trimmed its position in Bowlero Corp. (NYSE:BOWL) by 43.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,969 shares of the company’s stock after selling 12,375 shares during the quarter. XTX Topco Ltd’s holdings in Bowlero were worth $187,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Systematic Financial Management LP boosted its holdings in Bowlero by 24.0% in the third quarter. Systematic Financial Management LP now owns 838,090 shares of the company’s stock valued at $9,839,000 after purchasing an additional 161,951 shares during the last quarter. Lisanti Capital Growth LLC acquired a new position in shares of Bowlero in the 2nd quarter valued at about $2,648,000. King Luther Capital Management Corp boosted its stake in shares of Bowlero by 51.0% in the third quarter. King Luther Capital Management Corp now owns 356,105 shares of the company’s stock worth $4,181,000 after buying an additional 120,215 shares during the last quarter. Marshall Wace LLP grew its holdings in Bowlero by 101.5% during the second quarter. Marshall Wace LLP now owns 363,784 shares of the company’s stock worth $5,271,000 after acquiring an additional 183,252 shares during the period. Finally, Victory Capital Management Inc. raised its position in Bowlero by 63.3% during the second quarter. Victory Capital Management Inc. now owns 29,264 shares of the company’s stock valued at $424,000 after acquiring an additional 11,341 shares in the last quarter. Institutional investors and hedge funds own 68.11% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Piper Sandler started coverage on Bowlero in a research report on Monday, October 28th. They issued a “neutral” rating and a $12.00 price objective on the stock. B. Riley reaffirmed a “buy” rating and issued a $17.00 price objective on shares of Bowlero in a report on Tuesday, September 3rd. JPMorgan Chase & Co. lowered their target price 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. Royal Bank of Canada upgraded Bowlero to a “moderate buy” rating in a research note on Thursday, October 3rd. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $18.00 price target on shares of Bowlero in a report on Monday, September 30th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Bowlero presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.89.

Bowlero Price Performance

Shares of NYSE:BOWL opened at $10.23 on Friday. Bowlero Corp. has a 1 year low of $9.70 and a 1 year high of $15.47. The firm has a market capitalization of $1.50 billion, a PE ratio of -16.77 and a beta of 0.70. The business’s 50 day moving average price is $11.59 and its 200-day moving average price is $12.12.

Bowlero (NYSE:BOWL) last announced its earnings results on Monday, November 4th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.30. The company had revenue of $260.20 million for the quarter, compared to analysts’ expectations of $249.42 million. Bowlero had a negative net margin of 6.63% and a negative return on equity of 31.58%. During the same quarter in the previous year, the company posted ($0.10) EPS. As a group, analysts expect that Bowlero Corp. will post 0.45 earnings per share for the current year.

Bowlero Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 22nd were issued a $0.055 dividend. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $0.22 dividend on an annualized basis and a yield of 2.15%. Bowlero’s payout ratio is -36.07%.

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.