Bowlero Corp. (NYSE:BOWL) Short Interest Update

Bowlero Corp. (NYSE:BOWL) was the recipient of a significant drop in short interest in September. As of September 15th, there was short interest totalling 11,320,000 shares, a drop of 6.7% from the August 31st total of 12,130,000 shares. Based on an average daily volume of 626,200 shares, the days-to-cover ratio is currently 18.1 days. Approximately 13.6% of the shares of the stock are sold short.

Institutional Trading of Bowlero

A number of large investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its position in shares of Bowlero by 47.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,800 shares of the company’s stock valued at $110,000 after purchasing an additional 2,500 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Bowlero by 7.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,953 shares of the company’s stock valued at $205,000 after purchasing an additional 978 shares during the last quarter. Diversified Trust Co increased its position in shares of Bowlero by 39.4% during the 1st quarter. Diversified Trust Co now owns 23,700 shares of the company’s stock valued at $325,000 after purchasing an additional 6,700 shares during the last quarter. Summit Securities Group LLC bought a new position in shares of Bowlero during the 2nd quarter valued at approximately $392,000. Finally, XTX Topco Ltd bought a new position in shares of Bowlero during the 2nd quarter valued at approximately $411,000. Institutional investors own 68.11% of the company’s stock.

Bowlero Price Performance

NYSE BOWL opened at $11.31 on Wednesday. Bowlero has a 1-year low of $8.85 and a 1-year high of $15.47. The business has a 50 day simple moving average of $11.55 and a two-hundred day simple moving average of $12.43. The stock has a market capitalization of $1.68 billion, a PE ratio of 21.34 and a beta of 0.59.

Bowlero (NYSE:BOWL) last released its quarterly earnings data on Thursday, September 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $273.33 million. On average, analysts anticipate that Bowlero will post 0.29 EPS for the current fiscal year.

Bowlero Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms recently issued reports on BOWL. Canaccord Genuity Group reiterated a “buy” rating and set a $18.00 target price on shares of Bowlero in a research report on Monday. B. Riley reiterated a “buy” rating and set a $17.00 target price on shares of Bowlero in a research report on Tuesday, September 3rd. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Bowlero has a consensus rating of “Moderate Buy” and a consensus price target of $16.57.

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.