Short Interest in Bowlero Corp. (NYSE:BOWL) Decreases By 6.7%

Bowlero Corp. (NYSE:BOWL - Get Free Report) was the target of a large decrease in short interest in September. As of September 15th, there was short interest totalling 11,320,000 shares, a decrease of 6.7% from the August 31st total of 12,130,000 shares. Currently, 13.6% of the company's stock are short sold. Based on an average daily volume of 626,200 shares, the days-to-cover ratio is presently 18.1 days.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. B. Riley reaffirmed a "buy" rating and issued a $17.00 target price on shares of Bowlero in a research report on Tuesday, September 3rd. Canaccord Genuity Group restated a "buy" rating and set a $18.00 price objective on shares of Bowlero in a research note on Monday. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $16.57.

Institutional Trading of Bowlero

A number of hedge funds and other institutional investors have recently bought and sold shares of BOWL. Champlain Investment Partners LLC lifted 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 valued at $38,597,000 after acquiring an additional 275,525 shares in the last quarter. Boston Partners lifted its position in shares of Bowlero by 6.0% during the first quarter. Boston Partners now owns 3,646,113 shares of the company's stock valued at $49,004,000 after purchasing an additional 205,902 shares in the last quarter. Marshall Wace LLP boosted its holdings in Bowlero by 101.5% during the second quarter. Marshall Wace LLP now owns 363,784 shares of the company's stock worth $5,271,000 after purchasing an additional 183,252 shares during the last quarter. Lisanti Capital Growth LLC bought a new stake in Bowlero in the 2nd quarter worth about $2,648,000. Finally, Squarepoint Ops LLC increased its stake in Bowlero by 201.2% in the 2nd quarter. Squarepoint Ops LLC now owns 82,803 shares of the company's stock valued at $1,200,000 after buying an additional 164,603 shares during the last quarter. Institutional investors own 68.11% of the company's stock.

Bowlero Stock Down 0.5 %

BOWL traded down $0.06 during midday trading on Monday, hitting $11.74. The company had a trading volume of 363,978 shares, compared to its average volume of 852,005. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of 22.15 and a beta of 0.59. The stock's 50 day moving average price is $11.59 and its 200 day moving average price is $12.44. Bowlero has a 52 week low of $8.85 and a 52 week high of $15.47.

Bowlero (NYSE:BOWL - Get Free Report) last announced its quarterly earnings results on Thursday, September 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.05). Bowlero had a negative return on equity of 5.36% and a negative net margin of 7.24%. The firm had revenue of $283.87 million during the quarter, compared to the consensus estimate of $273.33 million. Research analysts predict that Bowlero will post 0.29 EPS for the current year.

Bowlero Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 23rd were given a $0.055 dividend. This represents a $0.22 annualized dividend and a yield of 1.87%. The ex-dividend date was Friday, August 23rd. Bowlero's payout ratio is currently 41.51%.

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.