Raymond James & Associates Has $305,000 Stake in Bowlero Corp. (NYSE:BOWL)

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

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. PNC Financial Services Group Inc. acquired a new stake in shares of Bowlero during the 3rd quarter valued at about $51,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Bowlero by 23.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,692 shares of the company’s stock valued at $93,000 after buying an additional 1,842 shares in the last quarter. Bfsg LLC acquired a new position in Bowlero in the third quarter valued at about $114,000. Arizona State Retirement System boosted its position in Bowlero by 19.0% in the third quarter. Arizona State Retirement System now owns 12,833 shares of the company’s stock valued at $123,000 after buying an additional 2,046 shares in the last quarter. Finally, Diversified Trust Co boosted its position in Bowlero by 33.1% in the fourth quarter. Diversified Trust Co now owns 17,000 shares of the company’s stock valued at $241,000 after buying an additional 4,225 shares in the last quarter. 68.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Bowlero

In other Bowlero news, Director Michelle D. Wilson sold 87,267 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $12.88, for a total value of $1,123,998.96. Following the completion of the sale, the director now owns 1,040,204 shares of the company’s stock, valued at $13,397,827.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 56.54% of the company’s stock.

Bowlero Trading Up 1.5 %

BOWL opened at $11.71 on Monday. The company has a debt-to-equity ratio of 46.80, a current ratio of 1.22 and a quick ratio of 1.14. The company has a market cap of $1.75 billion, a price-to-earnings ratio of 65.06 and a beta of 0.50. The firm has a 50 day simple moving average of $12.81 and a 200 day simple moving average of $12.10. Bowlero Corp. has a fifty-two week low of $8.85 and a fifty-two week high of $15.47.

Bowlero (NYSE:BOWL) last posted its quarterly earnings results on Monday, February 5th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.13). The business had revenue of $305.67 million for the quarter, compared to the consensus estimate of $300.46 million. Bowlero had a return on equity of 98.75% and a net margin of 6.33%. On average, sell-side analysts anticipate that Bowlero Corp. will post 0.15 earnings per share for the current year.

Bowlero Announces Dividend

The firm also recently declared a Variable dividend, which was paid on Friday, March 8th. Investors 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 122.22%.

Analyst Ratings Changes

BOWL has been the subject of a number of research analyst reports. Oppenheimer boosted their target price on shares of Bowlero from $16.00 to $18.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 14th. Stifel Nicolaus dropped their target price on shares of Bowlero from $21.00 to $19.00 and set a “buy” rating for the company in a research note on Tuesday, April 23rd. Finally, Roth Mkm boosted their target price on shares of Bowlero from $14.00 to $17.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $18.00.

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.