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 September. As of September 15th, there was short interest totalling 11,320,000 shares, a decrease of 6.7% from the August 31st total of 12,130,000 shares. Approximately 13.6% of the company’s stock are sold short. Based on an average trading volume of 626,200 shares, the short-interest ratio is currently 18.1 days.

Bowlero Stock Performance

BOWL stock opened at $11.31 on Wednesday. Bowlero has a fifty-two week low of $8.85 and a fifty-two week high of $15.47. The business’s 50-day moving average is $11.55 and its two-hundred day moving average is $12.43. The company has a market cap of $1.68 billion, a price-to-earnings ratio of 21.34 and a beta of 0.59.

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

Bowlero Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 23rd were issued a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend was Friday, August 23rd. Bowlero’s dividend payout ratio is 41.51%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BOWL. Canaccord Genuity Group reaffirmed a “buy” rating and set a $18.00 price target on shares of Bowlero in a report on Monday. B. Riley reaffirmed a “buy” rating and set a $17.00 price target on shares of Bowlero in a report on Tuesday, September 3rd. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Bowlero has an average rating of “Moderate Buy” and an average target price of $16.57.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Boston Partners raised its stake in shares of 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 buying an additional 205,902 shares during the period. Champlain Investment Partners LLC raised its stake 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 worth $38,597,000 after buying an additional 275,525 shares during the period. Private Management Group Inc. raised its stake 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 worth $18,698,000 after buying an additional 32,076 shares during the period. Marshall Wace LLP raised its stake in shares of Bowlero by 101.5% in 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 period. Finally, Lisanti Capital Growth LLC bought a new position in shares of Bowlero in the second quarter worth about $2,648,000. Institutional investors own 68.11% of the company’s stock.

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.