Short Interest in Bowlero Corp. (NYSE:BOWL) Drops By 5.8%

Bowlero Corp. (NYSE:BOWL) saw a significant decline in short interest in the month of March. As of March 31st, there was short interest totalling 15,000,000 shares, a decline of 5.8% from the March 15th total of 15,930,000 shares. Currently, 18.0% of the shares of the company are sold short. Based on an average trading volume of 1,100,000 shares, the days-to-cover ratio is presently 13.6 days.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on BOWL shares. Oppenheimer lifted their price objective on shares of Bowlero from $16.00 to $18.00 and gave the company an “outperform” rating in a research note on Wednesday, February 14th. Roth Mkm boosted their price target on shares of Bowlero from $14.00 to $17.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $19.29.

Bowlero Trading Up 0.6 %

NYSE BOWL traded up $0.07 on Tuesday, hitting $11.96. 436,796 shares of the company were exchanged, compared to its average volume of 1,086,525. The company’s 50 day moving average price is $13.21 and its 200-day moving average price is $12.03. The company has a debt-to-equity ratio of 46.80, a current ratio of 1.22 and a quick ratio of 1.14. The firm has a market capitalization of $1.79 billion, a P/E ratio of 66.03 and a beta of 0.50. Bowlero has a twelve month low of $8.85 and a twelve month high of $16.20.

Bowlero (NYSE:BOWL) last posted its quarterly earnings data on Monday, February 5th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.13). The company had revenue of $305.67 million for the quarter, compared to analyst estimates of $300.46 million. Bowlero had a return on equity of 98.75% and a net margin of 6.33%. Analysts predict that Bowlero will post 0.17 earnings per share for the current fiscal year.

Bowlero Announces Dividend

The firm also recently announced a Variable dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were paid a dividend of $0.055 per share. The ex-dividend date of this dividend was Thursday, February 22nd. Bowlero’s dividend payout ratio (DPR) is presently 122.22%.

Insider Activity

In other news, Director Michelle D. Wilson sold 87,267 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $12.88, for a total transaction of $1,123,998.96. Following the completion of the transaction, the director now owns 1,040,204 shares of the company’s stock, valued at $13,397,827.52. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 56.54% of the company’s stock.

Hedge Funds Weigh In On Bowlero

Several institutional investors and hedge funds have recently bought and sold shares of BOWL. Tower Research Capital LLC TRC grew its stake in Bowlero by 233.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,424 shares of the company’s stock valued at $28,000 after acquiring an additional 1,696 shares in the last quarter. Parkside Financial Bank & Trust grew its stake in shares of Bowlero by 159.2% in the 2nd quarter. Parkside Financial Bank & Trust now owns 3,173 shares of the company’s stock valued at $37,000 after buying an additional 1,949 shares in the last quarter. PNC Financial Services Group Inc. bought a new stake in shares of Bowlero in the 3rd quarter valued at approximately $51,000. Advisor Group Holdings Inc. lifted its holdings in Bowlero by 122.9% in the 4th quarter. Advisor Group Holdings Inc. now owns 5,350 shares of the company’s stock worth $72,000 after purchasing an additional 2,950 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in Bowlero in the 2nd quarter worth approximately $72,000. Hedge funds and other institutional investors own 68.11% of the company’s stock.

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.