Bowlero Corp. (NYSE:BOWL) Short Interest Down 6.8% in October

Bowlero Corp. (NYSE:BOWL - Get Free Report) was the target of a significant drop in short interest in October. As of October 31st, there was short interest totalling 9,360,000 shares, a drop of 6.8% from the October 15th total of 10,040,000 shares. Based on an average daily trading volume, of 590,800 shares, the days-to-cover ratio is currently 15.8 days. Approximately 11.4% of the company's stock are sold short.

Institutional Investors Weigh In On Bowlero

Institutional investors have recently modified their holdings of the business. Portolan Capital Management LLC acquired a new position in shares of Bowlero during the 3rd quarter worth approximately $8,281,000. Champlain Investment Partners LLC increased its stake in Bowlero by 10.8% during the 1st quarter. Champlain Investment Partners LLC now owns 2,817,305 shares of the company's stock worth $38,597,000 after acquiring an additional 275,525 shares during the period. Boston Partners raised its holdings in Bowlero by 6.0% in the 1st quarter. Boston Partners now owns 3,646,113 shares of the company's stock valued at $49,004,000 after acquiring an additional 205,902 shares in the last quarter. Marshall Wace LLP lifted its position in shares of Bowlero by 101.5% during the 2nd quarter. Marshall Wace LLP now owns 363,784 shares of the company's stock valued at $5,271,000 after acquiring an additional 183,252 shares during the period. Finally, Lisanti Capital Growth LLC bought a new stake in shares of Bowlero during the 2nd quarter valued at $2,648,000. Institutional investors own 68.11% of the company's stock.

Wall Street Analyst Weigh In

BOWL has been the topic of several research reports. Piper Sandler began coverage on Bowlero in a research note on Monday, October 28th. They issued a "neutral" rating and a $12.00 target price on the stock. Canaccord Genuity Group restated a "buy" rating and set a $18.00 target price on shares of Bowlero in a report on Monday, September 30th. B. Riley reiterated a "buy" rating and issued a $17.00 price target on shares of Bowlero in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. cut their price target 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. Finally, Royal Bank of Canada upgraded Bowlero to a "moderate buy" rating in a report on Thursday, October 3rd. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $15.88.

Bowlero Trading Up 2.9 %

Shares of BOWL traded up $0.33 during mid-day trading on Monday, reaching $11.80. The company's stock had a trading volume of 909,095 shares, compared to its average volume of 813,483. The stock has a market cap of $1.73 billion, a P/E ratio of -18.80 and a beta of 0.62. Bowlero has a 1-year low of $9.70 and a 1-year high of $15.47. The business has a 50-day simple moving average of $11.55 and a two-hundred day simple moving average of $12.17.

Bowlero (NYSE:BOWL - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The company reported $0.13 EPS for the quarter, topping analysts' consensus estimates of ($0.17) by $0.30. The firm had revenue of $260.20 million during the quarter, compared to analysts' expectations of $249.42 million. Bowlero had a negative net margin of 6.63% and a negative return on equity of 31.58%. During the same period in the previous year, the business posted ($0.10) earnings per share. Research analysts anticipate that Bowlero will post 0.45 EPS for the current year.

Bowlero Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be paid a $0.055 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.22 annualized dividend and a yield of 1.86%. Bowlero's dividend payout ratio (DPR) is presently -36.06%.

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.