Telemark Asset Management LLC Reduces Position in Bowlero Corp. (NYSE:BOWL)

Telemark Asset Management LLC reduced its holdings in Bowlero Corp. (NYSE:BOWL) by 63.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 500,000 shares of the company’s stock after selling 875,000 shares during the period. Telemark Asset Management LLC owned approximately 0.34% of Bowlero worth $5,870,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BOWL. Price T Rowe Associates Inc. MD lifted its stake 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 purchasing an additional 978 shares in the last quarter. Summit Securities Group LLC purchased a new position in Bowlero during the second quarter worth approximately $392,000. XTX Topco Ltd purchased a new position in Bowlero during the second quarter worth approximately $411,000. Victory Capital Management Inc. boosted its stake in Bowlero by 63.3% during the second quarter. Victory Capital Management Inc. now owns 29,264 shares of the company’s stock worth $424,000 after buying an additional 11,341 shares during the last quarter. Finally, Quest Partners LLC grew its holdings in 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 buying an additional 33,111 shares in the last quarter. 68.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

BOWL has been the topic of a number of analyst reports. JPMorgan Chase & Co. reduced their target price on shares of Bowlero from $16.00 to $15.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Piper Sandler initiated coverage on shares of Bowlero in a research report on Monday, October 28th. They set a “neutral” rating and a $12.00 price target on the stock. Canaccord Genuity Group reiterated a “buy” rating and issued a $18.00 price objective on shares of Bowlero in a research report on Monday, September 30th. Royal Bank of Canada upgraded Bowlero to a “moderate buy” rating in a research report on Thursday, October 3rd. Finally, B. Riley reiterated a “buy” rating and set a $17.00 price target on shares of Bowlero in a report on Tuesday, September 3rd. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $15.88.

Bowlero Stock Performance

Shares of BOWL stock opened at $11.83 on Friday. Bowlero Corp. has a fifty-two week low of $9.70 and a fifty-two week high of $15.47. The stock has a market capitalization of $1.74 billion, a P/E ratio of -19.39 and a beta of 0.62. The company has a 50 day moving average price of $11.60 and a 200 day moving average price of $12.15.

Bowlero (NYSE:BOWL) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.13 earnings per share (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 business had revenue of $260.20 million for the quarter, compared to analysts’ expectations of $249.42 million. During the same period last year, the firm earned ($0.10) earnings per share. On average, research analysts forecast that Bowlero Corp. will post 0.45 EPS for the current fiscal year.

Bowlero Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be given a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date is Friday, November 22nd. Bowlero’s dividend payout ratio is presently -36.06%.

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.