Bowlero Corp. (NYSE:BOWL) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. lowered its position in shares of Bowlero Corp. (NYSE:BOWL) by 10.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 900,000 shares of the company’s stock after selling 100,000 shares during the quarter. Federated Hermes Inc.’s holdings in Bowlero were worth $12,744,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BOWL. Simplicity Solutions LLC lifted its holdings in shares of Bowlero by 7.6% in the 4th quarter. Simplicity Solutions LLC now owns 26,890 shares of the company’s stock valued at $381,000 after buying an additional 1,890 shares during the period. Schwartz Investment Counsel Inc. lifted its holdings in shares of Bowlero by 11.2% in the 4th quarter. Schwartz Investment Counsel Inc. now owns 89,700 shares of the company’s stock valued at $1,270,000 after buying an additional 9,000 shares during the period. Bleakley Financial Group LLC lifted its holdings in shares of Bowlero by 7.6% in the 4th quarter. Bleakley Financial Group LLC now owns 26,890 shares of the company’s stock valued at $381,000 after buying an additional 1,890 shares during the period. Quent Capital LLC acquired a new position in shares of Bowlero in the 4th quarter valued at about $198,000. Finally, Raymond James & Associates lifted its holdings in shares of Bowlero by 26.6% in the 4th quarter. Raymond James & Associates now owns 21,520 shares of the company’s stock valued at $305,000 after buying an additional 4,520 shares during the period. Institutional investors and hedge funds own 68.11% of the company’s stock.

Bowlero Stock Performance

NYSE BOWL opened at $11.30 on Wednesday. The stock has a market capitalization of $1.69 billion, a price-to-earnings ratio of 62.78 and a beta of 0.50. Bowlero Corp. has a twelve month low of $8.85 and a twelve month 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 stock has a 50-day moving average of $12.92 and a 200 day moving average of $12.10.

Bowlero (NYSE:BOWL) last posted its quarterly earnings data on Monday, February 5th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.12 by ($0.13). Bowlero had a return on equity of 98.75% and a net margin of 6.33%. The firm had revenue of $305.67 million for the quarter, compared to analysts’ expectations of $300.46 million. Sell-side analysts anticipate that Bowlero Corp. will post 0.17 EPS for the current fiscal year.

Bowlero Dividend Announcement

The company also recently disclosed a Variable dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were paid a dividend of $0.055 per share. The ex-dividend date was Thursday, February 22nd. Bowlero’s dividend payout ratio (DPR) is currently 122.22%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Roth Mkm boosted their price objective on Bowlero from $14.00 to $17.00 and gave the company a “buy” rating in a report on Tuesday, February 6th. Stifel Nicolaus reduced their price target on Bowlero from $21.00 to $19.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Oppenheimer upped their price target on Bowlero from $16.00 to $18.00 and gave the stock an “outperform” rating in a report on Wednesday, February 14th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Bowlero has a consensus rating of “Buy” and a consensus target price of $18.00.

Insiders Place Their Bets

In other Bowlero news, Director Michelle D. Wilson sold 87,267 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $12.88, for a total transaction of $1,123,998.96. Following the completion of the sale, the director now directly owns 1,040,204 shares in the company, valued at approximately $13,397,827.52. The transaction was disclosed in a document filed with the SEC, which is available through this link. 56.54% of the stock is owned by company insiders.

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.