Rhumbline Advisers Lowers Stock Position in Bowlero Corp. (NYSE:BOWL)

Rhumbline Advisers decreased its holdings in Bowlero Corp. (NYSE:BOWL) by 57.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,667 shares of the company’s stock after selling 20,914 shares during the quarter. Rhumbline Advisers’ holdings in Bowlero were worth $227,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. PNC Financial Services Group Inc. raised its position in Bowlero by 47.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,800 shares of the company’s stock worth $110,000 after buying an additional 2,500 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Bowlero by 7.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,953 shares of the company’s stock worth $205,000 after acquiring an additional 978 shares during the period. Diversified Trust Co lifted its position in Bowlero by 39.4% in 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 period. Summit Securities Group LLC purchased a new stake in Bowlero in the 2nd quarter valued at approximately $392,000. Finally, Bessemer Group Inc. increased its position in Bowlero by 12.3% during the 1st quarter. Bessemer Group Inc. now owns 37,200 shares of the company’s stock worth $509,000 after purchasing an additional 4,070 shares during the period. Institutional investors and hedge funds own 68.11% of the company’s stock.

Analysts Set New Price Targets

Separately, B. Riley reissued a “buy” rating and set a $17.00 price target on shares of Bowlero in a research note on Tuesday, September 3rd. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Bowlero presently has an average rating of “Moderate Buy” and a consensus price target of $16.57.

Bowlero Stock Up 2.0 %

NYSE BOWL opened at $11.80 on Friday. Bowlero Corp. has a twelve month low of $8.85 and a twelve month high of $15.47. The stock has a market cap of $1.74 billion, a P/E ratio of 22.26 and a beta of 0.59. The company’s 50-day simple moving average is $11.61 and its 200 day simple moving average is $12.46.

Bowlero Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 23rd were paid a $0.055 dividend. This represents a $0.22 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend was Friday, August 23rd. Bowlero’s dividend payout ratio (DPR) is presently 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.