Quest Partners LLC Increases Stake in Bowlero Corp. (NYSE:BOWL)

Quest Partners LLC increased its holdings in Bowlero Corp. (NYSE:BOWL) by 3,311,100.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,112 shares of the company’s stock after purchasing an additional 33,111 shares during the quarter. Quest Partners LLC’s holdings in Bowlero were worth $389,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in BOWL. Boston Partners grew its holdings in shares of Bowlero by 6.0% in the first quarter. Boston Partners now owns 3,646,113 shares of the company’s stock worth $49,004,000 after purchasing an additional 205,902 shares during the last quarter. Private Management Group Inc. increased its position in shares of Bowlero by 2.5% in the second quarter. Private Management Group Inc. now owns 1,290,388 shares of the company’s stock valued at $18,698,000 after acquiring an additional 32,076 shares during the period. Marshall Wace LLP raised its stake in shares of Bowlero by 101.5% during the second quarter. Marshall Wace LLP now owns 363,784 shares of the company’s stock valued at $5,271,000 after acquiring an additional 183,252 shares during the last quarter. Lisanti Capital Growth LLC purchased a new stake in shares of Bowlero during the second quarter worth about $2,648,000. Finally, Russell Investments Group Ltd. bought a new stake in shares of Bowlero in the first quarter worth about $1,636,000. 68.11% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Bowlero Price Performance

Shares of NYSE BOWL opened at $11.82 on Monday. The stock has a market cap of $1.74 billion, a P/E ratio of -19.38 and a beta of 0.62. Bowlero Corp. has a 1 year low of $9.70 and a 1 year high of $15.47. The firm has a 50-day moving average of $11.60 and a 200 day moving average of $12.17.

Bowlero (NYSE:BOWL) last issued its quarterly 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 return on equity of 31.58% and a negative net margin of 6.63%. The firm had revenue of $260.20 million for the quarter, compared to analysts’ expectations of $249.42 million. During the same period in the previous year, the firm posted ($0.10) EPS. Research analysts expect that Bowlero Corp. will post 0.45 earnings per share for the current fiscal year.

Bowlero Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders 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 1.86%. The ex-dividend date is Friday, November 22nd. Bowlero’s dividend payout ratio is presently -36.07%.

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.