Telemark Asset Management LLC Decreases Stock Holdings in Bowlero Corp. (NYSE:BOWL)

Telemark Asset Management LLC lessened its holdings in Bowlero Corp. (NYSE:BOWL) by 63.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 500,000 shares of the company’s stock after selling 875,000 shares during the quarter. Telemark Asset Management LLC’s holdings in Bowlero were worth $5,870,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Boston Partners boosted its position in shares of Bowlero by 6.0% during 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 boosted its holdings in Bowlero by 101.5% in the second quarter. Marshall Wace LLP now owns 363,784 shares of the company’s stock valued at $5,271,000 after purchasing an additional 183,252 shares in the last quarter. Lisanti Capital Growth LLC acquired a new position in Bowlero in the second quarter valued at approximately $2,648,000. Squarepoint Ops LLC increased its stake in Bowlero by 201.2% in the second 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 during the last quarter. Finally, King Luther Capital Management Corp raised its holdings in Bowlero by 51.0% during the third quarter. King Luther Capital Management Corp now owns 356,105 shares of the company’s stock worth $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.

Analyst Ratings Changes

Several research analysts have recently issued reports on BOWL shares. Canaccord Genuity Group restated a “buy” rating and issued a $18.00 target price on shares of Bowlero in a report on Monday, September 30th. Royal Bank of Canada raised Bowlero to a “moderate buy” rating in a report on Thursday, October 3rd. Piper Sandler began coverage on Bowlero in a research report on Monday, October 28th. They set a “neutral” rating and a $12.00 target price on the stock. JPMorgan Chase & Co. decreased their target price on Bowlero from $16.00 to $15.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Finally, B. Riley reaffirmed a “buy” rating and set a $17.00 price target on shares of Bowlero in a research report on Tuesday, September 3rd. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Bowlero currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.88.

Bowlero Trading Up 2.2 %

Bowlero stock opened at $11.83 on Friday. The stock has a 50 day moving average of $11.60 and a two-hundred day moving average of $12.15. Bowlero Corp. has a twelve month low of $9.70 and a twelve month high of $15.47. The stock has a market capitalization of $1.74 billion, a price-to-earnings ratio of -19.39 and a beta of 0.62.

Bowlero (NYSE:BOWL) last posted 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. The firm had revenue of $260.20 million for the quarter, compared to analyst estimates 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 period last year, the firm posted ($0.10) EPS. Equities analysts predict that Bowlero Corp. will post 0.45 earnings per share for the current year.

Bowlero Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be issued 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 1.86%. 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.