King Luther Capital Management Corp Has $3.42 Million Position in Bowlero Corp. (NYSE:BOWL)

King Luther Capital Management Corp reduced its position in shares of Bowlero Corp. (NYSE:BOWL) by 1.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 235,890 shares of the company’s stock after selling 3,254 shares during the period. King Luther Capital Management Corp’s holdings in Bowlero were worth $3,418,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Russell Investments Group Ltd. acquired a new position in shares of Bowlero during the first quarter worth about $1,636,000. Boston Partners boosted its position in shares of Bowlero by 6.0% during the first quarter. Boston Partners now owns 3,646,113 shares of the company’s stock worth $49,004,000 after buying an additional 205,902 shares during the period. Champlain Investment Partners LLC boosted its position in shares of Bowlero by 10.8% during the first quarter. Champlain Investment Partners LLC now owns 2,817,305 shares of the company’s stock worth $38,597,000 after buying an additional 275,525 shares during the period. Lisanti Capital Growth LLC acquired a new position in Bowlero during the second quarter valued at approximately $2,648,000. Finally, Diversified Trust Co boosted its position in Bowlero by 39.4% during the first quarter. Diversified Trust Co now owns 23,700 shares of the company’s stock valued at $325,000 after purchasing an additional 6,700 shares during the last quarter. 68.11% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, 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. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Bowlero presently has an average rating of “Moderate Buy” and a consensus price target of $16.57.

Bowlero Stock Down 1.5 %

BOWL opened at $11.49 on Friday. Bowlero Corp. has a 12-month low of $8.85 and a 12-month high of $15.47. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of 21.68 and a beta of 0.59. The business has a 50 day moving average of $11.83 and a 200-day moving average of $12.51.

Bowlero Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 23rd were given a $0.055 dividend. The ex-dividend date was Friday, August 23rd. This represents a $0.22 dividend on an annualized basis and a dividend yield of 1.91%. Bowlero’s payout ratio 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.