Systematic Financial Management LP Cuts Stock Holdings in Bowlero Corp. (NYSE:BOWL)

Systematic Financial Management LP lessened its holdings in Bowlero Corp. (NYSE:BOWL) by 3.2% during the second quarter, HoldingsChannel.com reports. The fund owned 676,139 shares of the company’s stock after selling 22,428 shares during the quarter. Systematic Financial Management LP’s holdings in Bowlero were worth $9,797,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Bullseye Asset Management LLC grew its holdings in Bowlero by 39.2% during the 4th quarter. Bullseye Asset Management LLC now owns 159,940 shares of the company’s stock valued at $2,265,000 after purchasing an additional 45,000 shares in the last quarter. GLOBALT Investments LLC GA acquired a new position in Bowlero during the 4th quarter worth $625,000. PNC Financial Services Group Inc. grew its holdings in Bowlero by 47.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,800 shares of the company’s stock worth $110,000 after acquiring an additional 2,500 shares in the last quarter. Diversified Trust Co boosted its holdings in shares of Bowlero by 39.4% in the 1st quarter. Diversified Trust Co now owns 23,700 shares of the company’s stock valued at $325,000 after buying an additional 6,700 shares during the period. Finally, Russell Investments Group Ltd. acquired a new position in shares of Bowlero in the 1st quarter valued at about $1,636,000. Hedge funds and other institutional investors own 68.11% of the company’s stock.

Wall Street Analyst Weigh In

Separately, B. Riley reaffirmed a “buy” rating and issued a $17.00 price target on shares of Bowlero in a report on Tuesday, September 3rd. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $16.57.

Bowlero Stock Up 2.0 %

Shares of NYSE:BOWL opened at $11.80 on Monday. The company has a market cap of $1.76 billion, a PE ratio of 22.26 and a beta of 0.59. The company’s 50-day moving average price is $11.61 and its 200 day moving average price is $12.45. Bowlero Corp. has a fifty-two week low of $8.85 and a fifty-two week high of $15.47.

Bowlero (NYSE:BOWL) last released its quarterly earnings results on Thursday, September 5th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.05). Bowlero had a negative return on equity of 5.36% and a negative net margin of 7.24%. The company had revenue of $283.87 million for the quarter, compared to the consensus estimate of $273.33 million. As a group, equities analysts anticipate that Bowlero Corp. will post 0.29 EPS for the current year.

Bowlero Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 23rd were given a dividend of $0.055 per share. The ex-dividend date was Friday, August 23rd. This represents a $0.22 dividend on an annualized basis and a dividend yield of 1.86%. Bowlero’s dividend payout ratio (DPR) is 41.51%.

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.