Barclays PLC Acquires 1,439 Shares of Bowlero Corp. (NYSE:BOWL)

Barclays PLC increased its holdings in shares of Bowlero Corp. (NYSE:BOWL) by 22.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,807 shares of the company’s stock after purchasing an additional 1,439 shares during the period. Barclays PLC’s holdings in Bowlero were worth $91,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Victory Capital Management Inc. raised its position in Bowlero by 63.3% in the 2nd quarter. Victory Capital Management Inc. now owns 29,264 shares of the company’s stock valued at $424,000 after buying an additional 11,341 shares during the last quarter. XTX Topco Ltd acquired a new stake in Bowlero in the 2nd quarter valued at approximately $411,000. Marshall Wace LLP raised its position in 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 last quarter. Squarepoint Ops LLC raised its position in Bowlero by 201.2% in the 2nd quarter. Squarepoint Ops LLC now owns 82,803 shares of the company’s stock valued at $1,200,000 after buying an additional 164,603 shares during the last quarter. Finally, Quest Partners LLC raised its position in Bowlero by 3,311,100.0% in the 3rd quarter. Quest Partners LLC now owns 33,112 shares of the company’s stock valued at $389,000 after buying an additional 33,111 shares during the last quarter. Institutional investors own 68.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BOWL. Royal Bank of Canada raised Bowlero to a “moderate buy” rating in a research report on Thursday, October 3rd. Piper Sandler initiated coverage on Bowlero in a research report on Monday, October 28th. They issued a “neutral” rating and a $12.00 target price on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and set a $18.00 price target on shares of Bowlero in a research report on Monday, September 30th. Truist Financial initiated coverage on Bowlero in a research report on Tuesday, December 10th. They set a “buy” rating and a $16.00 price target on the stock. Finally, JPMorgan Chase & Co. lowered their price target on Bowlero from $16.00 to $15.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $15.89.

Bowlero Trading Up 1.5 %

BOWL stock opened at $10.57 on Thursday. The firm has a market capitalization of $1.55 billion, a PE ratio of -17.33 and a beta of 0.70. Bowlero Corp. has a 1-year low of $9.70 and a 1-year high of $15.47. The business’s 50 day simple moving average is $11.24 and its 200 day simple moving average is $11.84.

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

Bowlero Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 22nd were issued a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date was Friday, November 22nd. Bowlero’s payout ratio is presently -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.