Bowlero (NYSE:BOWL) Shares Up 2.3% - Still a Buy?

Key Points

• Bowlero Corp. shares increased 2.3% to trade at $10.70, with a market capitalization of $1.57 billion.
• The company has announced a quarterly dividend of $0.055 per share, equating to an annual yield of 2.1%.
• Recent institutional investment includes a new stake by Raymond James Financial Inc., acquiring 15,700 shares valued at approximately $184,000.

Shares of Bowlero Corp. (NYSE:BOWL - ) traded up 2.3% on Tuesday . The company traded as high as $11.19 and last traded at $10.70. 331,041 shares were traded during mid-day trading, a decline of 43% from the average session volume of 583,815 shares. The stock had previously closed at $10.46.

Bowlero Price Performance

The firm has a market capitalization of $1.57 billion, a P/E ratio of -17.54 and a beta of 0.70. The firm has a 50-day moving average price of $10.02 and a two-hundred day moving average price of $9.65.

Bowlero Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 29th will be issued a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a yield of 2.1%. Bowlero's payout ratio is -36.07%.

Hedge Funds Weigh In On Bowlero

An institutional investor recently bought a new position in Bowlero stock. Raymond James Financial Inc. purchased a new stake in shares of Bowlero Corp. (NYSE:BOWL - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 15,700 shares of the company's stock, valued at approximately $184,000. 68.11% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.