Short Interest in Bowlero Corp. (NYSE:BOWL) Increases By 6.8%

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

Analyst Ratings Changes

A number of research analysts recently issued reports on BOWL shares. Piper Sandler started coverage on Bowlero in a report on Monday, October 28th. They issued a “neutral” rating and a $12.00 target price for the company. JPMorgan Chase & Co. decreased their price objective on Bowlero from $16.00 to $15.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Canaccord Genuity Group reissued a “buy” rating and set a $18.00 price objective on shares of Bowlero in a research report on Monday, September 30th. Royal Bank of Canada raised shares of Bowlero to a “moderate buy” rating in a report on Thursday, October 3rd. Finally, Truist Financial started coverage on shares of Bowlero in a report on Tuesday, December 10th. They set a “buy” rating and a $16.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $15.89.

Bowlero Stock Performance

BOWL stock traded up $0.23 during midday trading on Tuesday, reaching $10.75. 830,693 shares of the company were exchanged, compared to its average volume of 796,863. The stock’s 50-day simple moving average is $11.67 and its 200 day simple moving average is $12.16. Bowlero has a 1-year low of $9.70 and a 1-year high of $15.47. The company 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 announced its quarterly earnings results on Monday, November 4th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of ($0.17) by $0.30. Bowlero had a negative net margin of 6.63% and a negative return on equity of 31.58%. The firm had revenue of $260.20 million for the quarter, compared to analyst estimates of $249.42 million. During the same period last year, the business earned ($0.10) EPS. On average, research analysts anticipate that Bowlero will post 0.45 earnings per share for the current year.

Bowlero Announces Dividend

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

Institutional Trading of Bowlero

A number of large investors have recently made changes to their positions in the company. Systematic Financial Management LP lifted its stake in Bowlero by 24.0% in the third quarter. Systematic Financial Management LP now owns 838,090 shares of the company’s stock valued at $9,839,000 after buying an additional 161,951 shares during the last quarter. Lisanti Capital Growth LLC acquired a new position in shares of Bowlero in the 2nd quarter valued at $2,648,000. King Luther Capital Management Corp increased its holdings in shares of Bowlero by 51.0% in the 3rd quarter. King Luther Capital Management Corp now owns 356,105 shares of the company’s stock valued at $4,181,000 after acquiring an additional 120,215 shares during the period. Marshall Wace LLP raised its position in Bowlero by 101.5% in the 2nd quarter. Marshall Wace LLP now owns 363,784 shares of the company’s stock valued at $5,271,000 after purchasing an additional 183,252 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in Bowlero by 7.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,953 shares of the company’s stock worth $205,000 after purchasing an additional 978 shares during the period. 68.11% of the stock is owned by institutional investors and hedge funds.

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.