Bowlero Corp. (NYSE:BOWL) Shares Sold by ArrowMark Colorado Holdings LLC

ArrowMark Colorado Holdings LLC lowered its position in Bowlero Corp. (NYSE:BOWL) by 43.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 793,208 shares of the company’s stock after selling 621,267 shares during the period. ArrowMark Colorado Holdings LLC owned approximately 0.54% of Bowlero worth $9,312,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its holdings in Bowlero by 7.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,953 shares of the company’s stock worth $205,000 after acquiring an additional 978 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Bowlero by 13.1% during the 3rd quarter. Victory Capital Management Inc. now owns 33,099 shares of the company’s stock valued at $389,000 after buying an additional 3,835 shares during the period. Quest Partners LLC raised its position in Bowlero by 3,311,100.0% in the third quarter. Quest Partners LLC now owns 33,112 shares of the company’s stock valued at $389,000 after purchasing an additional 33,111 shares during the period. Summit Securities Group LLC purchased a new stake in Bowlero in the 2nd quarter valued at about $392,000. Finally, XTX Topco Ltd acquired a new position in shares of Bowlero in the 2nd quarter worth approximately $411,000. 68.11% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on BOWL shares. B. Riley reissued a “buy” rating and set a $17.00 target price on shares of Bowlero in a research note on Tuesday, September 3rd. Canaccord Genuity Group reaffirmed a “buy” rating and set a $18.00 price objective on shares of Bowlero in a research report on Monday, September 30th. Piper Sandler began coverage on 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. decreased their price objective on shares of Bowlero from $16.00 to $15.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Finally, Royal Bank of Canada upgraded shares of Bowlero to a “moderate buy” rating in a research report on Thursday, October 3rd. Two research analysts have 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 presently has a consensus rating of “Moderate Buy” and an average price target of $15.88.

Bowlero Price Performance

BOWL opened at $12.41 on Tuesday. Bowlero Corp. has a 1-year low of $9.70 and a 1-year high of $15.47. The company has a 50-day moving average of $11.66 and a 200-day moving average of $12.20.

Bowlero (NYSE:BOWL) last posted its earnings results on Monday, November 4th. The company reported $0.13 EPS for the quarter, beating the consensus estimate 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 company had revenue of $260.20 million during the quarter, compared to analyst estimates of $249.42 million. During the same period in the prior year, the company earned ($0.10) earnings per share. On average, sell-side analysts anticipate that Bowlero Corp. will post 0.45 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 paid a dividend of $0.055 per share. The ex-dividend date is Friday, November 22nd. This represents a $0.22 annualized dividend and a yield of 1.77%. Bowlero’s dividend payout ratio is currently -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.