Boston Partners Boosts Holdings in Bowlero Corp. (NYSE:BOWL)

Boston Partners boosted its position in Bowlero Corp. (NYSE:BOWL - Free Report) by 7.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,440,211 shares of the company's stock after purchasing an additional 236,060 shares during the period. Boston Partners owned about 2.27% of Bowlero worth $47,632,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Cadian Capital Management LP acquired a new stake in shares of Bowlero during the 3rd quarter valued at approximately $4,810,000. Kent Lake Capital LLC lifted its position in shares of Bowlero by 500.0% during the 3rd quarter. Kent Lake Capital LLC now owns 600,000 shares of the company's stock valued at $5,772,000 after acquiring an additional 500,000 shares during the period. Kennedy Capital Management LLC lifted its position in shares of Bowlero by 283.8% during the 3rd quarter. Kennedy Capital Management LLC now owns 482,083 shares of the company's stock valued at $4,638,000 after acquiring an additional 356,485 shares during the period. Primecap Management Co. CA acquired a new position in shares of Bowlero during the 3rd quarter worth approximately $3,145,000. Finally, Vanguard Group Inc. raised its position in shares of Bowlero by 4.8% during the 3rd quarter. Vanguard Group Inc. now owns 4,229,231 shares of the company's stock worth $40,685,000 after purchasing an additional 193,801 shares during the last quarter. Institutional investors and hedge funds own 68.11% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BOWL. B. Riley cut their price objective on Bowlero from $19.00 to $17.00 and set a "buy" rating for the company in a research report on Tuesday, May 7th. Stifel Nicolaus cut their price objective on Bowlero from $19.00 to $17.00 and set a "buy" rating for the company in a research report on Tuesday, May 7th. Craig Hallum lifted their price objective on Bowlero from $17.00 to $18.00 and gave the stock a "buy" rating in a research report on Tuesday, May 7th. CJS Securities restated a "market perform" rating on shares of Bowlero in a research report on Tuesday, May 7th. Finally, Roth Mkm lowered their target price on shares of Bowlero from $17.00 to $15.00 and set a "buy" rating for the company in a research note on Tuesday, May 7th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $16.57.

Bowlero Stock Down 3.6 %

Shares of NYSE:BOWL traded down $0.44 during midday trading on Wednesday, hitting $11.88. 550,468 shares of the company's stock traded hands, compared to its average volume of 1,099,461. Bowlero Corp. has a twelve month low of $8.85 and a twelve month high of $15.47. The company has a debt-to-equity ratio of 46.80, a quick ratio of 1.21 and a current ratio of 1.29. The company has a market cap of $1.77 billion, a PE ratio of 22.64 and a beta of 0.57. The firm's fifty day moving average price is $12.55 and its two-hundred day moving average price is $12.17.

Bowlero Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 24th will be issued a $0.055 dividend. The ex-dividend date is Thursday, May 23rd. This represents a $0.22 dividend on an annualized basis and a yield of 1.85%. Bowlero's dividend payout ratio is currently 41.51%.

Insiders Place Their Bets

In other Bowlero news, Director Michelle D. Wilson sold 87,267 shares of the business's 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 transaction, the director now owns 1,040,204 shares in the company, valued at approximately $13,397,827.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 56.54% of the stock is currently owned by company insiders.

About Bowlero

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.