Bowlero Corp. (NYSE:BOWL) Short Interest Update

Bowlero Corp. (NYSE:BOWL) saw a large drop in short interest in the month of October. As of October 15th, there was short interest totalling 10,040,000 shares, a drop of 10.2% from the September 30th total of 11,180,000 shares. Approximately 12.1% of the shares of the company are sold short. Based on an average trading volume of 523,900 shares, the short-interest ratio is currently 19.2 days.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on BOWL shares. Piper Sandler initiated coverage on Bowlero in a report on Monday. They issued a “neutral” rating and a $12.00 price objective on the stock. B. Riley restated a “buy” rating and issued a $17.00 price target on shares of Bowlero in a research note on Tuesday, September 3rd. Royal Bank of Canada raised Bowlero to a “moderate buy” rating in a report on Thursday, October 3rd. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $18.00 target price on shares of Bowlero in a report on Monday, September 30th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $16.00.

Institutional Trading of Bowlero

Several large investors have recently modified their holdings of the business. PNC Financial Services Group Inc. lifted its stake in Bowlero by 47.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,800 shares of the company’s stock valued at $110,000 after buying an additional 2,500 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Bowlero by 7.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,953 shares of the company’s stock valued at $205,000 after acquiring an additional 978 shares in the last quarter. Diversified Trust Co boosted its stake in shares of Bowlero by 39.4% during the first quarter. Diversified Trust Co now owns 23,700 shares of the company’s stock valued at $325,000 after acquiring an additional 6,700 shares during the last quarter. Summit Securities Group LLC acquired a new stake in shares of Bowlero during the second quarter valued at $392,000. Finally, XTX Topco Ltd purchased a new stake in Bowlero during the 2nd quarter worth about $411,000. 68.11% of the stock is currently owned by institutional investors and hedge funds.

Bowlero Stock Performance

Shares of BOWL stock opened at $10.37 on Friday. The stock has a fifty day moving average price of $11.54 and a 200 day moving average price of $12.19. The stock has a market cap of $1.53 billion, a PE ratio of -15.95 and a beta of 0.60. Bowlero has a 1 year low of $8.85 and a 1 year high of $15.47.

Bowlero (NYSE:BOWL) last released its quarterly earnings results on Thursday, September 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $273.33 million. As a group, equities research analysts predict that Bowlero will post 0.29 earnings per share for the current year.

Bowlero Announces Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 2.12%. The ex-dividend date was Friday, August 23rd. Bowlero’s dividend payout ratio (DPR) is presently -33.85%.

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.