Federated Hermes Inc. Decreases Stock Holdings in Bowlero Corp. (NYSE:BOWL)

Federated Hermes Inc. lessened its position in Bowlero Corp. (NYSE:BOWL - Free Report) by 10.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 900,000 shares of the company's stock after selling 100,000 shares during the quarter. Federated Hermes Inc. owned approximately 0.59% of Bowlero worth $12,744,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. PNC Financial Services Group Inc. acquired a new stake in shares of Bowlero in the 3rd quarter worth approximately $51,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Bowlero by 23.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,692 shares of the company's stock worth $93,000 after buying an additional 1,842 shares during the period. Bfsg LLC purchased a new position in shares of Bowlero in the 3rd quarter worth $114,000. Arizona State Retirement System raised its position in shares of Bowlero by 19.0% in the 3rd quarter. Arizona State Retirement System now owns 12,833 shares of the company's stock worth $123,000 after buying an additional 2,046 shares during the period. Finally, Quent Capital LLC purchased a new position in shares of Bowlero in the 4th quarter worth $198,000. Institutional investors and hedge funds own 68.11% of the company's stock.

Insiders Place Their Bets

In other Bowlero news, Director Michelle D. Wilson sold 87,267 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $12.88, for a total value of $1,123,998.96. Following the sale, the director now directly owns 1,040,204 shares in the company, valued at $13,397,827.52. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 56.54% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on BOWL. Oppenheimer increased their target price on Bowlero from $16.00 to $18.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 14th. Stifel Nicolaus decreased their price objective on shares of Bowlero from $21.00 to $19.00 and set a "buy" rating for the company in a report on Tuesday. Finally, Roth Mkm boosted their target price on shares of Bowlero from $14.00 to $17.00 and gave the stock a "buy" rating in a research report on Tuesday, February 6th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, Bowlero currently has a consensus rating of "Buy" and an average price target of $18.00.

Bowlero Price Performance

Shares of BOWL traded up $0.15 during mid-day trading on Wednesday, hitting $11.46. 668,475 shares of the company traded hands, compared to its average volume of 1,052,900. Bowlero Corp. has a one year low of $8.85 and a one year high of $15.47. The company has a current ratio of 1.22, a quick ratio of 1.14 and a debt-to-equity ratio of 46.80. The business has a 50-day moving average of $12.92 and a 200 day moving average of $12.10. The stock has a market capitalization of $1.72 billion, a price-to-earnings ratio of 62.78 and a beta of 0.50.

Bowlero (NYSE:BOWL - Get Free Report) last announced its quarterly earnings data on Monday, February 5th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.13). Bowlero had a net margin of 6.33% and a return on equity of 98.75%. The business had revenue of $305.67 million during the quarter, compared to analyst estimates of $300.46 million. As a group, equities analysts expect that Bowlero Corp. will post 0.17 earnings per share for the current fiscal year.

Bowlero Dividend Announcement

The firm also recently disclosed a Variable dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were issued a $0.055 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. Bowlero's dividend payout ratio is currently 122.22%.

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.