XTX Topco Ltd Trims Holdings in Bowlero Corp. (NYSE:BOWL)

XTX Topco Ltd reduced its stake in shares of Bowlero Corp. (NYSE:BOWL) by 43.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,969 shares of the company’s stock after selling 12,375 shares during the quarter. XTX Topco Ltd’s holdings in Bowlero were worth $187,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Centiva Capital LP bought a new stake in Bowlero during the 3rd quarter valued at about $207,000. Victory Capital Management Inc. raised its stake in shares of Bowlero by 13.1% during the third quarter. Victory Capital Management Inc. now owns 33,099 shares of the company’s stock valued at $389,000 after acquiring an additional 3,835 shares in the last quarter. Quest Partners LLC boosted its holdings in shares of Bowlero by 3,311,100.0% in the third quarter. Quest Partners LLC now owns 33,112 shares of the company’s stock valued at $389,000 after purchasing an additional 33,111 shares during the period. Summit Securities Group LLC bought a new position in Bowlero in the second quarter worth approximately $392,000. Finally, Janus Henderson Group PLC raised its position in Bowlero by 8.6% during the 3rd quarter. Janus Henderson Group PLC now owns 60,022 shares of the company’s stock valued at $705,000 after purchasing an additional 4,763 shares in the last quarter. 68.11% of the stock is owned by hedge funds and other institutional investors.

Bowlero Price Performance

Shares of BOWL stock opened at $10.23 on Friday. The stock’s fifty day moving average price is $11.59 and its 200 day moving average price is $12.12. Bowlero Corp. has a 1-year low of $9.70 and a 1-year high of $15.47. The company has a market cap of $1.50 billion, a price-to-earnings ratio of -16.77 and a beta of 0.70.

Bowlero (NYSE:BOWL) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.30. Bowlero had a negative return on equity of 31.58% and a negative net margin of 6.63%. The business had revenue of $260.20 million during the quarter, compared to the consensus estimate of $249.42 million. During the same quarter last year, the company earned ($0.10) earnings per share. As a group, equities research analysts anticipate that Bowlero Corp. will post 0.45 earnings per share for the current year.

Bowlero Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 22nd were paid a dividend of $0.055 per share. The ex-dividend date was Friday, November 22nd. This represents a $0.22 dividend on an annualized basis and a yield of 2.15%. Bowlero’s payout ratio is -36.07%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on BOWL shares. B. Riley reissued a “buy” rating and set a $17.00 price target on shares of Bowlero in a research report on Tuesday, September 3rd. Canaccord Genuity Group reissued a “buy” rating and set a $18.00 target price on shares of Bowlero in a research report on Monday, September 30th. Piper Sandler initiated coverage on shares of Bowlero in a research report on Monday, October 28th. They issued a “neutral” rating and a $12.00 price target for the company. Royal Bank of Canada raised shares of Bowlero to a “moderate buy” rating in a report on Thursday, October 3rd. Finally, JPMorgan Chase & Co. dropped their target price on Bowlero from $16.00 to $15.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $15.89.

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.