Taylor Frigon Capital Management LLC Reduces Holdings in Bowlero Corp. (NYSE:BOWL)

Taylor Frigon Capital Management LLC reduced its stake in shares of Bowlero Corp. (NYSE:BOWL) by 8.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 250,475 shares of the company’s stock after selling 24,227 shares during the quarter. Bowlero comprises approximately 1.5% of Taylor Frigon Capital Management LLC’s portfolio, making the stock its 19th largest holding. Taylor Frigon Capital Management LLC owned about 0.17% of Bowlero worth $2,941,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Squarepoint Ops LLC increased its position in shares of Bowlero by 201.2% during the second quarter. Squarepoint Ops LLC now owns 82,803 shares of the company’s stock worth $1,200,000 after purchasing an additional 164,603 shares in the last quarter. Marshall Wace LLP increased its position in Bowlero by 101.5% during the second quarter. Marshall Wace LLP now owns 363,784 shares of the company’s stock worth $5,271,000 after buying an additional 183,252 shares during the period. XTX Topco Ltd purchased a new stake in Bowlero in the second quarter valued at approximately $411,000. Private Management Group Inc. lifted its stake in Bowlero by 2.5% in the second quarter. Private Management Group Inc. now owns 1,290,388 shares of the company’s stock valued at $18,698,000 after buying an additional 32,076 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of Bowlero by 63.3% in the second quarter. Victory Capital Management Inc. now owns 29,264 shares of the company’s stock valued at $424,000 after acquiring an additional 11,341 shares during the period. 68.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on BOWL shares. B. Riley reiterated a “buy” rating and issued a $17.00 price target on shares of Bowlero in a research report on Tuesday, September 3rd. Royal Bank of Canada upgraded shares of Bowlero to a “moderate buy” rating in a research note on Thursday, October 3rd. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $18.00 target price on shares of Bowlero in a report on Monday, September 30th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $16.57.

Bowlero Trading Down 2.5 %

Shares of NYSE:BOWL traded down $0.29 during midday trading on Thursday, hitting $11.31. The stock had a trading volume of 58,720 shares, compared to its average volume of 809,699. The company has a market capitalization of $1.68 billion, a PE ratio of 21.94 and a beta of 0.60. Bowlero Corp. has a 1 year low of $8.85 and a 1 year high of $15.47. The stock has a 50 day moving average price of $11.55 and a two-hundred day moving average price of $12.26.

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

Bowlero Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 23rd were given a $0.055 dividend. This represents a $0.22 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend was Friday, August 23rd. Bowlero’s payout ratio is 41.51%.

Bowlero Company 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.