King Luther Capital Management Corp Decreases Holdings in Bowlero Corp. (NYSE:BOWL)

King Luther Capital Management Corp trimmed its holdings in shares of Bowlero Corp. (NYSE:BOWL) by 0.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 313,831 shares of the company’s stock after selling 1,588 shares during the period. King Luther Capital Management Corp’s holdings in Bowlero were worth $4,444,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of BOWL. Raymond James & Associates purchased a new stake in Bowlero during the 3rd quarter worth about $164,000. Bank of New York Mellon Corp increased its position in shares of Bowlero by 6.0% during the third quarter. Bank of New York Mellon Corp now owns 121,436 shares of the company’s stock worth $1,168,000 after purchasing an additional 6,835 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Bowlero by 23.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,692 shares of the company’s stock worth $93,000 after purchasing an additional 1,842 shares in the last quarter. Mesirow Financial Investment Management Inc. acquired a new stake in shares of Bowlero during the third quarter worth about $226,000. Finally, Arizona State Retirement System increased its position in shares of Bowlero by 19.0% during the third quarter. Arizona State Retirement System now owns 12,833 shares of the company’s stock worth $123,000 after purchasing an additional 2,046 shares in the last quarter. 68.11% of the stock is owned by hedge funds and other institutional investors.

Bowlero Stock Performance

BOWL stock traded down $0.26 during trading on Thursday, hitting $11.75. The company had a trading volume of 63,626 shares, compared to its average volume of 1,061,543. The company has a quick ratio of 1.21, a current ratio of 1.29 and a debt-to-equity ratio of 46.80. The firm has a 50-day moving average price of $12.42 and a 200-day moving average price of $12.24. Bowlero Corp. has a 1-year low of $8.85 and a 1-year high of $15.47. The firm has a market cap of $1.75 billion, a PE ratio of 22.17 and a beta of 0.57.

Bowlero Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 24th will be given a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a yield of 1.87%. The ex-dividend date is Thursday, May 23rd. Bowlero’s payout ratio is 41.51%.

Analyst Ratings Changes

BOWL has been the topic of a number of research analyst reports. Craig Hallum lifted their target price on Bowlero from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. JPMorgan Chase & Co. cut their target price on Bowlero from $17.00 to $16.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd. Canaccord Genuity Group cut their target price on Bowlero from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday, May 7th. Stifel Nicolaus cut their target price on Bowlero from $19.00 to $17.00 and set a “buy” rating on the stock in a research report on Tuesday, May 7th. Finally, B. Riley dropped their price target on Bowlero from $19.00 to $17.00 and set a “buy” rating on the stock in a research report on Tuesday, May 7th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $16.57.

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.