Bullseye Asset Management LLC Grows Stake in Bowlero Corp. (NYSE:BOWL)

Bullseye Asset Management LLC lifted its stake in Bowlero Corp. (NYSE:BOWLFree Report) by 39.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 159,940 shares of the company’s stock after buying an additional 45,000 shares during the period. Bullseye Asset Management LLC owned approximately 0.11% of Bowlero worth $2,265,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Swiss National Bank grew its position in shares of Bowlero by 19.4% during the third quarter. Swiss National Bank now owns 99,000 shares of the company’s stock worth $952,000 after acquiring an additional 16,100 shares during the last quarter. Clearstead Advisors LLC grew its holdings in shares of Bowlero by 200.0% during the third quarter. Clearstead Advisors LLC now owns 45,000 shares of the company’s stock worth $433,000 after buying an additional 30,000 shares during the last quarter. Dark Forest Capital Management LP acquired a new position in Bowlero in the 3rd quarter valued at about $1,317,000. Primecap Management Co. CA purchased a new stake in Bowlero during the 3rd quarter valued at approximately $3,145,000. Finally, Teza Capital Management LLC lifted its position in Bowlero by 208.0% during the 3rd quarter. Teza Capital Management LLC now owns 73,802 shares of the company’s stock worth $710,000 after acquiring an additional 49,844 shares during the period. Hedge funds and other institutional investors own 68.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on BOWL shares. CJS Securities reaffirmed a “market perform” rating on shares of Bowlero in a report on Tuesday, May 7th. Craig Hallum boosted their price target on shares of Bowlero from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Canaccord Genuity Group lowered their price objective on Bowlero from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, May 7th. Oppenheimer decreased their price target on Bowlero from $18.00 to $15.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 7th. Finally, Roth Mkm cut their price target on shares of Bowlero from $17.00 to $15.00 and set a “buy” rating for the company in a report on Tuesday, May 7th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $16.57.

Check Out Our Latest Analysis on BOWL

Bowlero Trading Down 3.4 %

Shares of Bowlero stock traded down $0.45 during trading hours on Friday, reaching $12.78. The stock had a trading volume of 393,825 shares, compared to its average volume of 1,002,529. The company has a current ratio of 1.29, a quick ratio of 1.21 and a debt-to-equity ratio of 46.80. Bowlero Corp. has a 1 year low of $8.85 and a 1 year high of $15.47. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of 24.11 and a beta of 0.58. The firm has a 50 day simple moving average of $12.22 and a two-hundred day simple moving average of $12.48.

Bowlero (NYSE:BOWLGet Free Report) last issued its quarterly earnings results on Monday, May 6th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.11). The business had revenue of $337.67 million during the quarter, compared to analysts’ expectations of $341.45 million. Bowlero had a net margin of 11.24% and a return on equity of 330.46%. As a group, equities research analysts anticipate that Bowlero Corp. will post 0.04 earnings per share for the current year.

Bowlero Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 24th were given a $0.055 dividend. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $0.22 annualized dividend and a dividend yield of 1.72%. Bowlero’s payout ratio is 41.51%.

Bowlero Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Bowlero (NYSE:BOWL)

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