Bowlero Corp. (NYSE:BOWL) Short Interest Down 7.7% in August

Bowlero Corp. (NYSE:BOWL) was the recipient of a significant drop in short interest during the month of August. As of August 31st, there was short interest totalling 12,130,000 shares, a drop of 7.7% from the August 15th total of 13,140,000 shares. Based on an average trading volume of 602,300 shares, the days-to-cover ratio is presently 20.1 days. Currently, 14.6% of the company’s shares are sold short.

Institutional Trading of Bowlero

Institutional investors have recently added to or reduced their stakes in the business. Champlain Investment Partners LLC boosted 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 valued at $38,597,000 after purchasing an additional 275,525 shares during the period. Boston Partners increased its position in 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. Marshall Wace LLP grew 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 purchasing an additional 183,252 shares in the last quarter. Lisanti Capital Growth LLC acquired a new stake in shares of Bowlero in the second quarter valued at $2,648,000. Finally, Squarepoint Ops LLC boosted its stake in shares of Bowlero by 201.2% during the 2nd quarter. Squarepoint Ops LLC now owns 82,803 shares of the company’s stock worth $1,200,000 after acquiring an additional 164,603 shares in the last quarter. 68.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, B. Riley reiterated a “buy” rating and issued a $17.00 target price on shares of Bowlero in a research note on Tuesday, September 3rd. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $16.57.

Bowlero Stock Down 2.6 %

Shares of BOWL stock traded down $0.32 on Wednesday, reaching $11.87. 304,713 shares of the stock were exchanged, compared to its average volume of 861,400. The stock has a market cap of $1.77 billion, a P/E ratio of 22.57 and a beta of 0.59. Bowlero has a 1-year low of $8.85 and a 1-year high of $15.47. The firm has a 50 day moving average of $11.97 and a two-hundred day moving average of $12.54.

Bowlero Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 23rd were paid a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend was Friday, August 23rd. Bowlero’s dividend payout ratio is presently 41.51%.

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.