Bowlero Corp. (NYSE:BOWL) Short Interest Update

Bowlero Corp. (NYSE:BOWL) was the recipient of a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 9,360,000 shares, a decrease of 6.8% from the October 15th total of 10,040,000 shares. Currently, 11.4% of the company’s stock are short sold. Based on an average daily trading volume, of 590,800 shares, the days-to-cover ratio is currently 15.8 days.

Institutional Investors Weigh In On Bowlero

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BOWL. Boston Partners raised its position in shares of Bowlero by 6.0% during the 1st quarter. Boston Partners now owns 3,646,113 shares of the company’s stock valued at $49,004,000 after purchasing an additional 205,902 shares during the period. Champlain Investment Partners LLC lifted its position in shares of Bowlero by 10.8% in the first quarter. Champlain Investment Partners LLC now owns 2,817,305 shares of the company’s stock valued at $38,597,000 after acquiring an additional 275,525 shares in the last quarter. Private Management Group Inc. lifted its position in shares of Bowlero by 2.5% in the second quarter. Private Management Group Inc. now owns 1,290,388 shares of the company’s stock valued at $18,698,000 after acquiring an additional 32,076 shares in the last quarter. Systematic Financial Management LP boosted its stake in shares of Bowlero by 24.0% in the third quarter. Systematic Financial Management LP now owns 838,090 shares of the company’s stock worth $9,839,000 after acquiring an additional 161,951 shares during the period. Finally, Portolan Capital Management LLC purchased a new stake in shares of Bowlero during the third quarter worth about $8,281,000. 68.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BOWL has been the topic of several analyst reports. B. Riley reaffirmed a “buy” rating and issued a $17.00 price objective on shares of Bowlero in a research report on Tuesday, September 3rd. Royal Bank of Canada raised Bowlero to a “moderate buy” rating in a research report on Thursday, October 3rd. JPMorgan Chase & Co. decreased their target price on Bowlero from $16.00 to $15.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Piper Sandler initiated coverage on shares of Bowlero in a research note on Monday, October 28th. They set a “neutral” rating and a $12.00 target price on the stock. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $18.00 price target on shares of Bowlero in a research note on Monday, September 30th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.88.

Bowlero Stock Performance

Shares of NYSE BOWL opened at $11.80 on Tuesday. Bowlero has a 12-month low of $9.70 and a 12-month high of $15.47. The firm has a 50 day moving average of $11.57 and a 200 day moving average of $12.17.

Bowlero (NYSE:BOWL) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of ($0.17) by $0.30. The firm had revenue of $260.20 million during the quarter, compared to analyst estimates 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 period in the prior year, the business posted ($0.10) EPS. Analysts anticipate that Bowlero will post 0.45 earnings per share for the current year.

Bowlero Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.86%. Bowlero’s dividend payout ratio (DPR) is presently -36.06%.

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.