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

Bowlero Corp. (NYSE:BOWL) was the recipient of a large increase in short interest during the month of November. As of November 30th, there was short interest totalling 10,360,000 shares, an increase of 6.8% from the November 15th total of 9,700,000 shares. Approximately 12.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 614,600 shares, the days-to-cover ratio is currently 16.9 days.

Bowlero Trading Up 2.2 %

Shares of BOWL traded up $0.23 during mid-day trading on Tuesday, reaching $10.75. The company had a trading volume of 830,693 shares, compared to its average volume of 796,863. Bowlero has a fifty-two week low of $9.70 and a fifty-two week high of $15.47. The firm has a fifty day simple moving average of $11.67 and a 200-day simple moving average of $12.16. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of -17.62 and a beta of 0.70.

Bowlero (NYSE:BOWL) last issued its earnings results on Monday, November 4th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.30. The firm had revenue of $260.20 million for the quarter, compared to analysts’ expectations of $249.42 million. Bowlero had a negative return on equity of 31.58% and a negative net margin of 6.63%. During the same quarter last year, the firm earned ($0.10) earnings per share. As a group, equities analysts predict that Bowlero will post 0.45 EPS for the current fiscal year.

Bowlero Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on 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. Royal Bank of Canada raised shares of Bowlero to a “moderate buy” rating in a research note on Thursday, October 3rd. Canaccord Genuity Group reiterated a “buy” rating and set a $18.00 price target on shares of Bowlero in a report on Monday, September 30th. Piper Sandler started coverage on shares of Bowlero in a research note on Monday, October 28th. They set a “neutral” rating and a $12.00 price objective on the stock. Finally, JPMorgan Chase & Co. decreased their target price on shares of Bowlero from $16.00 to $15.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $15.89.

Hedge Funds Weigh In On Bowlero

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Portolan Capital Management LLC acquired a new stake in Bowlero in the third quarter valued at approximately $8,281,000. Marshall Wace LLP lifted its holdings in Bowlero by 101.5% in the 2nd quarter. Marshall Wace LLP now owns 363,784 shares of the company’s stock worth $5,271,000 after buying an additional 183,252 shares in the last quarter. Lisanti Capital Growth LLC purchased a new position in Bowlero in the 2nd quarter valued at about $2,648,000. Squarepoint Ops LLC grew its stake in shares of Bowlero by 201.2% during the second quarter. Squarepoint Ops LLC now owns 82,803 shares of the company’s stock valued at $1,200,000 after acquiring an additional 164,603 shares in the last quarter. Finally, Systematic Financial Management LP lifted its stake in shares of 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 in the last quarter. 68.11% of the stock is owned by institutional investors and hedge funds.

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.