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

Bowlero Corp. (NYSE:BOWL) was the recipient of 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 shares of the company are short sold. Based on an average trading volume of 614,600 shares, the days-to-cover ratio is presently 16.9 days.

Bowlero Price Performance

NYSE BOWL traded up $0.23 on Tuesday, hitting $10.75. The company had a trading volume of 830,693 shares, compared to its average volume of 796,863. The company has a market capitalization of $1.58 billion, a PE ratio of -17.62 and a beta of 0.70. Bowlero has a 12-month low of $9.70 and a 12-month high of $15.47. The company’s fifty day moving average price is $11.67 and its 200-day moving average price is $12.16.

Bowlero (NYSE:BOWL) last released its quarterly earnings results on Monday, November 4th. The company reported $0.13 earnings per share 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 during the quarter, compared to the consensus estimate of $249.42 million. During the same quarter in the prior year, the firm earned ($0.10) EPS. On average, sell-side analysts anticipate that Bowlero will post 0.45 EPS for the current year.

Bowlero Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 22nd were given a dividend of $0.055 per share. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $0.22 dividend on an annualized basis and a yield of 2.05%. Bowlero’s payout ratio is presently -36.07%.

Institutional Trading of Bowlero

Large investors have recently bought and sold shares of the business. Portolan Capital Management LLC purchased a new position in shares of Bowlero during the 3rd quarter worth $8,281,000. 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 purchasing an additional 183,252 shares during the last quarter. Lisanti Capital Growth LLC purchased a new position in Bowlero during the second quarter worth about $2,648,000. Squarepoint Ops LLC boosted its holdings in Bowlero by 201.2% in the 2nd quarter. Squarepoint Ops LLC now owns 82,803 shares of the company’s stock valued at $1,200,000 after purchasing an additional 164,603 shares during the last quarter. Finally, Systematic Financial Management LP grew its position in 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. Hedge funds and other institutional investors own 68.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on BOWL shares. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $18.00 price target on shares of Bowlero in a report on Monday, September 30th. Royal Bank of Canada upgraded Bowlero to a “moderate buy” rating in a research note on Thursday, October 3rd. Truist Financial began coverage on Bowlero in a research report on Tuesday, December 10th. They set a “buy” rating and a $16.00 price target for the company. B. Riley restated a “buy” rating and issued a $17.00 price objective on shares of Bowlero in a research report on Tuesday, September 3rd. Finally, JPMorgan Chase & Co. cut their target price on shares of Bowlero from $16.00 to $15.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $15.89.

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.