Portolan Capital Management LLC Purchases Shares of 705,357 Bowlero Corp. (NYSE:BOWL)

Portolan Capital Management LLC purchased a new stake in shares of Bowlero Corp. (NYSE:BOWL) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 705,357 shares of the company’s stock, valued at approximately $8,281,000. Portolan Capital Management LLC owned 0.48% of Bowlero as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in BOWL. Price T Rowe Associates Inc. MD boosted its position in Bowlero by 7.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,953 shares of the company’s stock valued at $205,000 after buying an additional 978 shares during the period. Centiva Capital LP bought a new position in Bowlero in the 3rd quarter worth $207,000. Victory Capital Management Inc. raised its holdings in Bowlero by 13.1% in the 3rd quarter. Victory Capital Management Inc. now owns 33,099 shares of the company’s stock worth $389,000 after purchasing an additional 3,835 shares in the last quarter. Quest Partners LLC raised 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 worth $389,000 after purchasing an additional 33,111 shares in the last quarter. Finally, Summit Securities Group LLC bought a new position in Bowlero in the 2nd quarter worth $392,000. Hedge funds and other institutional investors own 68.11% of the company’s stock.

Bowlero Price Performance

Shares of BOWL stock opened at $11.80 on Wednesday. Bowlero Corp. has a one year low of $9.70 and a one year high of $15.47. The company’s 50-day moving average is $11.68 and its 200 day moving average is $12.21.

Bowlero (NYSE:BOWL) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of ($0.17) by $0.30. Bowlero had a negative net margin of 6.63% and a negative return on equity of 31.58%. The company had revenue of $260.20 million for the quarter, compared to the consensus estimate of $249.42 million. During the same period in the prior year, the firm posted ($0.10) EPS. Analysts predict that Bowlero Corp. will post 0.45 earnings per share for the current year.

Bowlero Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be issued 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 of this dividend is Friday, November 22nd. Bowlero’s payout ratio is presently -36.06%.

Analysts Set New Price Targets

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

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.