Charles Schwab Investment Management Inc. Sells 42,878 Shares of Bowlero Corp. (NYSE:BOWL)

Charles Schwab Investment Management Inc. lowered its stake in shares of Bowlero Corp. (NYSE:BOWL) by 20.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 163,395 shares of the company’s stock after selling 42,878 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Bowlero were worth $1,918,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in BOWL. Marshall Wace LLP increased 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 buying an additional 183,252 shares during the last quarter. Lisanti Capital Growth LLC bought a new position in shares of Bowlero in the 2nd quarter valued at about $2,648,000. Squarepoint Ops LLC increased its stake in shares of Bowlero by 201.2% during the 2nd quarter. Squarepoint Ops LLC now owns 82,803 shares of the company’s stock worth $1,200,000 after purchasing an additional 164,603 shares during the last quarter. King Luther Capital Management Corp increased its stake in shares of Bowlero by 51.0% during the 3rd 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 during the last quarter. Finally, Quest Partners LLC raised its holdings in shares of 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 purchasing an additional 33,111 shares during the period. Institutional investors and hedge funds own 68.11% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on BOWL. Royal Bank of Canada upgraded Bowlero to a “moderate buy” rating in a report on Thursday, October 3rd. Truist Financial assumed coverage on Bowlero in a report on Tuesday, December 10th. They set a “buy” rating and a $16.00 target price on the stock. 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. JPMorgan Chase & Co. dropped their price objective on shares of Bowlero from $16.00 to $15.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Finally, B. Riley reaffirmed a “buy” rating and set a $17.00 target price on shares of Bowlero in a report on Tuesday, September 3rd. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $15.89.

Bowlero Stock Performance

Shares of Bowlero stock opened at $10.52 on Tuesday. Bowlero Corp. has a 52-week low of $9.70 and a 52-week high of $15.47. The stock has a market cap of $1.55 billion, a PE ratio of -17.25 and a beta of 0.70. The firm has a 50-day moving average of $11.69 and a 200-day moving average of $12.17.

Bowlero (NYSE:BOWL) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.30. Bowlero had a negative net margin of 6.63% and a negative return on equity of 31.58%. The firm had revenue of $260.20 million during the quarter, compared to the consensus estimate of $249.42 million. During the same quarter in the previous year, the firm posted ($0.10) EPS. Equities research analysts predict that Bowlero Corp. will post 0.45 earnings per share for the current fiscal year.

Bowlero Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 22nd were given a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend was Friday, November 22nd. Bowlero’s dividend payout ratio is currently -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.