Raymond James & Associates Acquires 4,520 Shares of Bowlero Corp. (NYSE:BOWL)

Raymond James & Associates lifted its position in Bowlero Corp. (NYSE:BOWL) by 26.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,520 shares of the company’s stock after acquiring an additional 4,520 shares during the quarter. Raymond James & Associates’ holdings in Bowlero were worth $305,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in BOWL. PNC Financial Services Group Inc. bought a new position in Bowlero during the third quarter valued at about $51,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Bowlero by 23.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,692 shares of the company’s stock valued at $93,000 after purchasing an additional 1,842 shares during the last quarter. Bfsg LLC purchased a new stake in Bowlero during the third quarter valued at about $114,000. Arizona State Retirement System lifted its holdings in shares of Bowlero by 19.0% in the third 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 in the last quarter. Finally, Diversified Trust Co lifted its holdings in shares of Bowlero by 33.1% in the fourth quarter. Diversified Trust Co now owns 17,000 shares of the company’s stock worth $241,000 after buying an additional 4,225 shares in the last quarter. Institutional investors own 68.11% of the company’s stock.

Insider Transactions at Bowlero

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

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BOWL. Stifel Nicolaus lowered their price target on shares of Bowlero from $21.00 to $19.00 and set a “buy” rating on the stock in a report on Tuesday, April 23rd. Oppenheimer increased their price target on shares of Bowlero from $16.00 to $18.00 and gave the company an “outperform” rating in a research report on Wednesday, February 14th. Finally, Roth Mkm raised their target price on shares of Bowlero from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $18.00.

Bowlero Stock Performance

Shares of BOWL stock opened at $11.71 on Monday. The stock has a fifty day moving average of $12.81 and a 200 day moving average of $12.10. Bowlero Corp. has a 52 week low of $8.85 and a 52 week high of $15.47. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of 65.06 and a beta of 0.50. The company has a quick ratio of 1.14, a current ratio of 1.22 and a debt-to-equity ratio of 46.80.

Bowlero (NYSE:BOWL) last announced 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). The firm had revenue of $305.67 million for the quarter, compared to analysts’ expectations of $300.46 million. Bowlero had a net margin of 6.33% and a return on equity of 98.75%. As a group, research analysts expect that Bowlero Corp. will post 0.15 earnings per share for the current 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 given a dividend of $0.055 per share. The ex-dividend date was Thursday, February 22nd. Bowlero’s dividend payout ratio is currently 122.22%.

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.