King Luther Capital Management Corp Has $4.18 Million Stake in Bowlero Corp. (NYSE:BOWL)

King Luther Capital Management Corp raised its position in shares of Bowlero Corp. (NYSE:BOWL - Free Report) by 51.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 356,105 shares of the company's stock after purchasing an additional 120,215 shares during the quarter. King Luther Capital Management Corp owned about 0.24% of Bowlero worth $4,181,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Russell Investments Group Ltd. acquired a new position in shares of Bowlero in the 1st quarter worth approximately $1,636,000. Bessemer Group Inc. increased its holdings in shares of Bowlero by 12.3% in the first quarter. Bessemer Group Inc. now owns 37,200 shares of the company's stock valued at $509,000 after buying an additional 4,070 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Bowlero by 7.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,953 shares of the company's stock valued at $205,000 after acquiring an additional 978 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of Bowlero by 76.9% during the 1st quarter. Janus Henderson Group PLC now owns 46,617 shares of the company's stock worth $639,000 after acquiring an additional 20,259 shares in the last quarter. Finally, Boston Partners boosted its stake in shares of Bowlero by 6.0% during the 1st quarter. Boston Partners now owns 3,646,113 shares of the company's stock worth $49,004,000 after acquiring an additional 205,902 shares in the last quarter. 68.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BOWL. B. Riley reaffirmed a "buy" rating and set a $17.00 target price on shares of Bowlero in a report on Tuesday, September 3rd. JPMorgan Chase & Co. reduced their price objective on shares of Bowlero from $16.00 to $15.00 and set an "overweight" rating for the company in a research note on Tuesday, November 5th. Canaccord Genuity Group reissued a "buy" rating and issued a $18.00 target price on shares of Bowlero in a research report on Monday, September 30th. Piper Sandler began coverage on shares of Bowlero in a report on Monday, October 28th. They set a "neutral" rating and a $12.00 price target on the stock. Finally, Royal Bank of Canada raised shares of Bowlero to a "moderate buy" rating in a research note on Thursday, October 3rd. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Bowlero has an average rating of "Moderate Buy" and a consensus price target of $15.88.

Bowlero Trading Up 0.5 %

Shares of BOWL stock opened at $11.83 on Friday. Bowlero Corp. has a 12 month low of $9.70 and a 12 month high of $15.47. The business's 50 day moving average is $11.60 and its two-hundred day moving average is $12.16.

Bowlero (NYSE:BOWL - Get Free Report) last posted its earnings results on Monday, November 4th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.17) by $0.30. Bowlero had a negative net margin of 6.63% and a negative return on equity of 31.58%. The business had revenue of $260.20 million for the quarter, compared to analyst estimates of $249.42 million. During the same period last year, the business posted ($0.10) EPS. As a group, research analysts forecast that Bowlero Corp. will post 0.45 EPS for the current year.

Bowlero Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be paid a dividend of $0.055 per share. The ex-dividend date is Friday, November 22nd. This represents a $0.22 annualized dividend and a yield of 1.86%. Bowlero's payout ratio is -36.06%.

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.