Victory Capital Management Inc. Grows Position in Bowlero Corp. (NYSE:BOWL)

Victory Capital Management Inc. grew its stake in shares of Bowlero Corp. (NYSE:BOWL) by 13.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 33,099 shares of the company’s stock after acquiring an additional 3,835 shares during the quarter. Victory Capital Management Inc.’s holdings in Bowlero were worth $389,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its position in Bowlero by 7.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,953 shares of the company’s stock worth $205,000 after buying an additional 978 shares in the last quarter. Summit Securities Group LLC purchased a new position in Bowlero during the second quarter worth $392,000. XTX Topco Ltd purchased a new position in Bowlero during the second quarter worth $411,000. Janus Henderson Group PLC boosted its holdings in shares of Bowlero by 76.9% during the first quarter. Janus Henderson Group PLC now owns 46,617 shares of the company’s stock worth $639,000 after purchasing an additional 20,259 shares during the last quarter. Finally, Squarepoint Ops LLC boosted its holdings in shares of Bowlero by 201.2% during the second 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. Hedge funds and other institutional investors own 68.11% of the company’s stock.

Bowlero Trading Down 1.3 %

Shares of Bowlero stock opened at $12.31 on Friday. 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 $1.81 billion, a P/E ratio of -20.18 and a beta of 0.62. The business’s fifty day moving average price is $11.66 and its 200 day moving average price is $12.20.

Bowlero (NYSE:BOWL) last issued its earnings results on Monday, November 4th. The company reported $0.13 earnings per share for the quarter, topping 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 the consensus estimate of $249.42 million. During the same quarter in the prior year, the business earned ($0.10) earnings per share. As a group, sell-side analysts predict that Bowlero Corp. will post 0.45 EPS for the current year.

Bowlero Dividend Announcement

The business also recently announced 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 1.79%. The ex-dividend date is Friday, November 22nd. Bowlero’s payout ratio is -36.06%.

Analyst Upgrades and Downgrades

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

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.