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

Bowlero Corp. (NYSE:BOWL) was the recipient of a large 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. Currently, 12.6% of the company’s stock are sold short. Based on an average trading volume of 614,600 shares, the short-interest ratio is currently 16.9 days.

Bowlero Price Performance

NYSE BOWL traded up $0.23 during mid-day trading on Tuesday, reaching $10.75. The stock had a trading volume of 830,693 shares, compared to its average volume of 796,863. The stock has a market cap of $1.58 billion, a PE ratio of -17.62 and a beta of 0.70. Bowlero has a 1 year low of $9.70 and a 1 year high of $15.47. The company has a fifty day moving average price of $11.67 and a 200 day moving average price of $12.16.

Bowlero (NYSE:BOWL) last posted 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 return on equity of 31.58% and a negative net margin of 6.63%. The firm had revenue of $260.20 million during the quarter, compared to analysts’ expectations of $249.42 million. During the same quarter in the previous year, the business earned ($0.10) earnings per share. As a group, equities research analysts expect that Bowlero will post 0.45 earnings per share for the current year.

Bowlero Dividend Announcement

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

Institutional Trading of Bowlero

Large investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD grew its holdings 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 worth $205,000 after acquiring an additional 978 shares during the period. Schwartz Investment Counsel Inc. grew its stake in shares of Bowlero by 5.2% during the 2nd quarter. Schwartz Investment Counsel Inc. now owns 94,400 shares of the company’s stock valued at $1,368,000 after purchasing an additional 4,700 shares during the period. Summit Securities Group LLC purchased a new stake in shares of Bowlero during the 2nd quarter valued at about $392,000. Lisanti Capital Growth LLC bought a new position in shares of Bowlero in the 2nd quarter worth approximately $2,648,000. Finally, Victory Capital Management Inc. boosted its holdings in shares of Bowlero by 63.3% in the second quarter. Victory Capital Management Inc. now owns 29,264 shares of the company’s stock worth $424,000 after buying an additional 11,341 shares during the last quarter. 68.11% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BOWL has been the subject of a number of research reports. JPMorgan Chase & Co. decreased their price objective on Bowlero from $16.00 to $15.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Royal Bank of Canada upgraded shares of Bowlero to a “moderate buy” rating in a research note on Thursday, October 3rd. Canaccord Genuity Group reissued a “buy” rating and set a $18.00 price objective on shares of Bowlero in a research note on Monday, September 30th. B. Riley reaffirmed a “buy” rating and set a $17.00 target price on shares of Bowlero in a research note on Tuesday, September 3rd. Finally, Piper Sandler started coverage on Bowlero in a research report on Monday, October 28th. They issued a “neutral” rating and a $12.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average 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.