Bowlero Corp. (NYSE:BOWL - Get Free Report) was the recipient of a large drop in short interest in October. As of October 15th, there was short interest totalling 10,040,000 shares, a drop of 10.2% from the September 30th total of 11,180,000 shares. Currently, 12.1% of the company's shares are sold short. Based on an average trading volume of 523,900 shares, the short-interest ratio is currently 19.2 days.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on the company. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $18.00 target price on shares of Bowlero in a research report on Monday, September 30th. Piper Sandler started coverage on Bowlero in a research report on Monday. They set a "neutral" rating and a $12.00 target price on the stock. Royal Bank of Canada raised shares of Bowlero to a "moderate buy" rating in a research report on Thursday, October 3rd. Finally, B. Riley reiterated a "buy" rating and issued a $17.00 target price on shares of Bowlero in a report on Tuesday, September 3rd. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $16.00.
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Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of BOWL. Price T Rowe Associates Inc. MD grew its position in shares of Bowlero by 7.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,953 shares of the company's stock valued at $205,000 after purchasing an additional 978 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Bowlero by 47.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,800 shares of the company's stock valued at $110,000 after acquiring an additional 2,500 shares during the last quarter. Bessemer Group Inc. grew its holdings in shares of Bowlero by 12.3% during the first quarter. Bessemer Group Inc. now owns 37,200 shares of the company's stock worth $509,000 after purchasing an additional 4,070 shares in the last quarter. Schwartz Investment Counsel Inc. increased its position in shares of Bowlero by 5.2% in the second quarter. Schwartz Investment Counsel Inc. now owns 94,400 shares of the company's stock worth $1,368,000 after purchasing an additional 4,700 shares during the last quarter. Finally, Diversified Trust Co raised its stake in Bowlero by 39.4% in the first quarter. Diversified Trust Co now owns 23,700 shares of the company's stock valued at $325,000 after purchasing an additional 6,700 shares in the last quarter. 68.11% of the stock is currently owned by hedge funds and other institutional investors.
Bowlero Price Performance
Shares of Bowlero stock traded down $0.27 on Wednesday, reaching $10.97. 739,783 shares of the company traded hands, compared to its average volume of 805,474. The company has a 50 day moving average of $11.57 and a 200 day moving average of $12.21. Bowlero has a 52 week low of $8.85 and a 52 week high of $15.47. The firm has a market capitalization of $1.62 billion, a PE ratio of -17.28 and a beta of 0.60.
Bowlero (NYSE:BOWL - Get Free Report) last issued its 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). The firm had revenue of $283.87 million during the quarter, compared to the consensus estimate of $273.33 million. Bowlero had a negative net margin of 7.24% and a negative return on equity of 5.36%. As a group, analysts anticipate that Bowlero will post 0.29 earnings per share for the current year.
Bowlero Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 23rd were given a $0.055 dividend. This represents a $0.22 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend was Friday, August 23rd. Bowlero's dividend payout ratio (DPR) is currently -33.85%.
Bowlero Company Profile
(
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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.
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