King Luther Capital Management Corp Sells 3,254 Shares of Bowlero Corp. (NYSE:BOWL)

King Luther Capital Management Corp lowered its position in shares of Bowlero Corp. (NYSE:BOWL) by 1.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 235,890 shares of the company’s stock after selling 3,254 shares during the quarter. King Luther Capital Management Corp owned approximately 0.16% of Bowlero worth $3,418,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. XTX Topco Ltd bought a new stake in shares of Bowlero during the second quarter worth $411,000. Private Management Group Inc. raised its position in shares of Bowlero by 2.5% during the second quarter. Private Management Group Inc. now owns 1,290,388 shares of the company’s stock worth $18,698,000 after acquiring an additional 32,076 shares during the last quarter. Victory Capital Management Inc. increased its holdings in 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 purchasing an additional 11,341 shares during the last quarter. Lisanti Capital Growth LLC bought a new stake in Bowlero in the second quarter valued at about $2,648,000. Finally, Summit Securities Group LLC bought a new stake in Bowlero in the second quarter valued at about $392,000. Institutional investors own 68.11% of the company’s stock.

Analyst Ratings Changes

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

Bowlero Price Performance

Shares of Bowlero stock opened at $11.49 on Friday. Bowlero Corp. has a 1 year low of $8.85 and a 1 year high of $15.47. The business has a 50-day moving average of $11.83 and a two-hundred day moving average of $12.51. The company has a market capitalization of $1.71 billion, a P/E ratio of 21.68 and a beta of 0.59.

Bowlero Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 23rd were issued a $0.055 dividend. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $0.22 annualized dividend and a dividend yield of 1.91%. Bowlero’s dividend payout ratio (DPR) is currently 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.