Bowlero Corp. (NYSE:BOWL) Short Interest Update

Bowlero Corp. (NYSE:BOWL) was the recipient of a significant decline in short interest during the month of October. As of October 15th, there was short interest totalling 10,040,000 shares, a decline of 10.2% from the September 30th total of 11,180,000 shares. Approximately 12.1% of the shares of the company are sold short. Based on an average daily volume of 523,900 shares, the short-interest ratio is presently 19.2 days.

Institutional Trading of Bowlero

Large investors have recently added to or reduced their stakes in the business. Champlain Investment Partners LLC raised its holdings in shares of Bowlero by 10.8% during the 1st quarter. Champlain Investment Partners LLC now owns 2,817,305 shares of the company’s stock valued at $38,597,000 after purchasing an additional 275,525 shares in the last quarter. Boston Partners boosted its holdings in Bowlero by 6.0% in the first quarter. Boston Partners now owns 3,646,113 shares of the company’s stock worth $49,004,000 after purchasing an additional 205,902 shares in the last quarter. Marshall Wace LLP increased its position in Bowlero by 101.5% during the second 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. Lisanti Capital Growth LLC bought a new position in Bowlero during the second quarter valued at about $2,648,000. Finally, Squarepoint Ops LLC lifted its position in shares of Bowlero by 201.2% in the second quarter. Squarepoint Ops LLC now owns 82,803 shares of the company’s stock worth $1,200,000 after buying an additional 164,603 shares during the last quarter. 68.11% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on BOWL shares. Royal Bank of Canada upgraded Bowlero to a “moderate buy” rating in a research report on Thursday, October 3rd. B. Riley restated a “buy” rating and set a $17.00 price objective on shares of Bowlero in a research report on Tuesday, September 3rd. Piper Sandler started coverage on Bowlero in a report on Monday. They issued a “neutral” rating and a $12.00 target price on the stock. Finally, 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. 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $16.00.

Bowlero Trading Down 2.4 %

NYSE BOWL opened at $11.26 on Wednesday. Bowlero has a 1-year low of $8.85 and a 1-year high of $15.47. The firm’s fifty day simple moving average is $11.57 and its 200-day simple moving average is $12.21. The company has a market capitalization of $1.68 billion, a PE ratio of 21.25 and a beta of 0.60.

Bowlero (NYSE:BOWL) last issued its earnings results on Thursday, September 5th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.05). Bowlero had a negative return on equity of 5.36% and a negative net margin of 7.24%. The firm had revenue of $283.87 million during the quarter, compared to analyst estimates of $273.33 million. As a group, analysts predict that Bowlero will post 0.29 EPS for the current year.

Bowlero Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 23rd were given a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a yield of 1.95%. The ex-dividend date was Friday, August 23rd. Bowlero’s payout ratio is presently 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.