Bowlero Corp. (NYSE:BOWL) Short Interest Update

Bowlero Corp. (NYSE:BOWL) was the target of a significant increase in short interest in November. As of November 30th, there was short interest totalling 10,360,000 shares, an increase of 6.8% from the November 15th total of 9,700,000 shares. Approximately 12.6% of the shares of the stock are sold short. Based on an average daily volume of 614,600 shares, the short-interest ratio is currently 16.9 days.

Bowlero Trading Up 2.2 %

Shares of Bowlero stock traded up $0.23 during trading on Tuesday, hitting $10.75. The stock had a trading volume of 830,693 shares, compared to its average volume of 796,863. The business’s 50-day moving average is $11.67 and its 200 day moving average is $12.16. Bowlero has a 12 month low of $9.70 and a 12 month high of $15.47. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of -17.62 and a beta of 0.70.

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

Bowlero Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 22nd were issued a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a yield of 2.05%. The ex-dividend date was Friday, November 22nd. Bowlero’s dividend payout ratio is presently -36.07%.

Institutional Trading of Bowlero

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Private Management Group Inc. boosted its holdings 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 purchasing an additional 32,076 shares during the period. Systematic Financial Management LP raised its position in Bowlero by 24.0% during the 3rd quarter. Systematic Financial Management LP now owns 838,090 shares of the company’s stock valued at $9,839,000 after purchasing an additional 161,951 shares during the last quarter. Portolan Capital Management LLC purchased a new stake in Bowlero in the 3rd quarter worth approximately $8,281,000. Marshall Wace LLP grew its position in shares of Bowlero by 101.5% in the 2nd quarter. Marshall Wace LLP now owns 363,784 shares of the company’s stock worth $5,271,000 after buying an additional 183,252 shares during the last quarter. Finally, King Luther Capital Management Corp increased its stake in shares of Bowlero by 51.0% during the third quarter. King Luther Capital Management Corp now owns 356,105 shares of the company’s stock valued at $4,181,000 after buying an additional 120,215 shares during the period. Institutional investors own 68.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. dropped their price target on Bowlero from $16.00 to $15.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Truist Financial began coverage on shares of Bowlero in a report on Tuesday, December 10th. They issued a “buy” rating and a $16.00 target price on the stock. Royal Bank of Canada upgraded Bowlero to a “moderate buy” rating in a report on Thursday, October 3rd. Piper Sandler began coverage on Bowlero in a research report on Monday, October 28th. They issued a “neutral” rating and a $12.00 target price for the company. Finally, B. Riley reaffirmed a “buy” rating and set a $17.00 target price on shares of Bowlero in a research report on Tuesday, September 3rd. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $15.89.

About Bowlero

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.