Bowlero Corp. (NYSE:BOWL - Get Free Report) saw a significant 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. Based on an average daily trading volume, of 614,600 shares, the days-to-cover ratio is currently 16.9 days. Currently, 12.6% of the shares of the company are short sold.
Institutional Investors Weigh In On Bowlero
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Barclays PLC increased its stake in Bowlero by 22.6% in the 3rd quarter. Barclays PLC now owns 7,807 shares of the company's stock valued at $91,000 after purchasing an additional 1,439 shares in the last quarter. Price T Rowe Associates Inc. MD increased 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 buying an additional 978 shares in the last quarter. Centiva Capital LP acquired a new position in shares of Bowlero during the 3rd quarter worth $207,000. Summit Securities Group LLC purchased a new stake in shares of Bowlero in the 2nd quarter worth about $392,000. Finally, XTX Topco Ltd purchased a new stake in shares of Bowlero in the 2nd quarter worth about $411,000. 68.11% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of brokerages have recently commented on BOWL. B. Riley reaffirmed a "buy" rating and issued a $17.00 target price on shares of Bowlero in a report on Tuesday, September 3rd. Truist Financial initiated coverage on shares of Bowlero in a report on Tuesday, December 10th. They issued a "buy" rating and a $16.00 target price for the company. Royal Bank of Canada raised Bowlero to a "moderate buy" rating in a report on Thursday, October 3rd. Piper Sandler assumed coverage on Bowlero in a research note on Monday, October 28th. They set a "neutral" rating and a $12.00 price objective for the company. Finally, Canaccord Genuity Group reiterated a "buy" rating and issued a $18.00 target price on shares of Bowlero in a research note on Monday, September 30th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Bowlero presently has a consensus rating of "Moderate Buy" and a consensus target price of $15.89.
Read Our Latest Stock Report on BOWL
Bowlero Stock Up 2.2 %
Shares of Bowlero stock traded up $0.23 during trading on Tuesday, reaching $10.75. The company's stock had a trading volume of 830,693 shares, compared to its average volume of 796,863. The business has a 50 day moving average price of $11.67 and a 200-day moving average price of $12.16. Bowlero has a 12-month low of $9.70 and a 12-month high of $15.47. The company has a market capitalization of $1.58 billion, a P/E ratio of -17.62 and a beta of 0.70.
Bowlero (NYSE:BOWL - Get Free Report) last issued its earnings results on Monday, November 4th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of ($0.17) by $0.30. The company had revenue of $260.20 million for the quarter, compared to analyst estimates 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 firm earned ($0.10) EPS. Research analysts predict that Bowlero will post 0.45 EPS for the current fiscal year.
Bowlero Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders 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 dividend on an annualized basis and a yield of 2.05%. Bowlero's dividend payout ratio (DPR) is presently -36.07%.
Bowlero Company Profile
(
Get Free Report)
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.
Further Reading
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