Mesirow Financial Investment Management Inc. Reduces Position in Bowlero Corp. (NYSE:BOWL)

Mesirow Financial Investment Management Inc. trimmed its holdings in Bowlero Corp. (NYSE:BOWL) by 23.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 18,059 shares of the company’s stock after selling 5,418 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in Bowlero were worth $247,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Bowlero by 4.8% in the 3rd quarter. Vanguard Group Inc. now owns 4,229,231 shares of the company’s stock worth $40,685,000 after acquiring an additional 193,801 shares in the last quarter. Boston Partners increased its holdings in Bowlero by 7.4% during the 4th quarter. Boston Partners now owns 3,440,211 shares of the company’s stock worth $47,632,000 after purchasing an additional 236,060 shares during the period. Kennedy Capital Management LLC raised its position in Bowlero by 283.8% during the 3rd quarter. Kennedy Capital Management LLC now owns 482,083 shares of the company’s stock valued at $4,638,000 after purchasing an additional 356,485 shares in the last quarter. Raymond James & Associates raised its position in Bowlero by 26.6% during the 4th quarter. Raymond James & Associates now owns 21,520 shares of the company’s stock valued at $305,000 after purchasing an additional 4,520 shares in the last quarter. Finally, Bullseye Asset Management LLC purchased a new stake in shares of Bowlero in the 3rd quarter worth $1,106,000. 68.11% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on BOWL. CJS Securities restated a “market perform” rating on shares of Bowlero in a report on Tuesday, May 7th. Craig Hallum increased their price objective on shares of Bowlero from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. Roth Mkm lowered their target price on Bowlero from $17.00 to $15.00 and set a “buy” rating for the company in a report on Tuesday, May 7th. Canaccord Genuity Group cut their price target on Bowlero from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, May 7th. Finally, Stifel Nicolaus decreased their price objective on Bowlero from $19.00 to $17.00 and set a “buy” rating for the company in a research note on Tuesday, May 7th. One equities research 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, Bowlero currently has a consensus rating of “Moderate Buy” and an average target price of $16.57.

Bowlero Trading Up 0.7 %

Shares of BOWL stock traded up $0.10 during trading hours on Wednesday, reaching $14.13. 229,398 shares of the company’s stock were exchanged, compared to its average volume of 979,708. Bowlero Corp. has a fifty-two week low of $8.85 and a fifty-two week high of $15.47. The stock’s 50 day moving average is $12.62 and its 200-day moving average is $12.77. The company has a market cap of $2.10 billion, a price-to-earnings ratio of 26.45 and a beta of 0.62.

Bowlero (NYSE:BOWL) last announced its earnings results on Monday, May 6th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.11). The business had revenue of $337.67 million for the quarter, compared to analyst estimates of $341.45 million. Bowlero had a net margin of 11.24% and a return on equity of 330.46%. Equities analysts anticipate that Bowlero Corp. will post 0.04 EPS for the current year.

Bowlero Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Friday, May 24th were paid a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date was Thursday, May 23rd. Bowlero’s dividend payout ratio (DPR) is presently 41.51%.

Insiders Place Their Bets

In other Bowlero news, Director Michelle D. Wilson sold 65,829 shares of Bowlero stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $12.90, for a total transaction of $849,194.10. Following the completion of the sale, the director now owns 848,471 shares of the company’s stock, valued at approximately $10,945,275.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Bowlero news, Director Michelle D. Wilson sold 65,829 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $12.90, for a total transaction of $849,194.10. Following the completion of the transaction, the director now directly owns 848,471 shares of the company’s stock, valued at approximately $10,945,275.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michelle D. Wilson sold 39,309 shares of Bowlero stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $13.98, for a total transaction of $549,539.82. Following the sale, the director now owns 958,162 shares of the company’s stock, valued at $13,395,104.76. The disclosure for this sale can be found here. 56.54% of the stock is owned by insiders.

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.