Short Interest in Bowlero Corp. (NYSE:BOWL) Declines By 5.8%

Bowlero Corp. (NYSE:BOWL) was the target of a significant decrease in short interest during the month of March. As of March 31st, there was short interest totalling 15,000,000 shares, a decrease of 5.8% from the March 15th total of 15,930,000 shares. Based on an average daily volume of 1,100,000 shares, the days-to-cover ratio is currently 13.6 days. Approximately 18.0% of the company’s shares are short sold.

Bowlero Trading Up 1.3 %

Shares of NYSE:BOWL opened at $12.12 on Thursday. The stock has a market capitalization of $1.81 billion, a PE ratio of 67.31 and a beta of 0.50. The company’s 50-day moving average price is $13.15 and its two-hundred day moving average price is $12.05. The company has a debt-to-equity ratio of 46.80, a current ratio of 1.22 and a quick ratio of 1.14. Bowlero has a one year low of $8.85 and a one year high of $16.20.

Bowlero (NYSE:BOWL) last released its earnings results on Monday, February 5th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.13). Bowlero had a net margin of 6.33% and a return on equity of 98.75%. The firm had revenue of $305.67 million during the quarter, compared to the consensus estimate of $300.46 million. On average, equities analysts forecast that Bowlero will post 0.17 EPS for the current fiscal year.

Bowlero Announces Dividend

The company also recently announced a Variable dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were paid a $0.055 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. Bowlero’s dividend payout ratio (DPR) is currently 122.22%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on BOWL. Roth Mkm boosted their target price on Bowlero from $14.00 to $17.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. Oppenheimer increased their target price on Bowlero from $16.00 to $18.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 14th. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $19.29.

Insider Activity at Bowlero

In other news, Director Michelle D. Wilson sold 87,267 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $12.88, for a total transaction of $1,123,998.96. Following the completion of the transaction, the director now directly owns 1,040,204 shares in the company, valued at approximately $13,397,827.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 56.54% of the stock is currently owned by corporate insiders.

Institutional Trading of Bowlero

Several institutional investors and hedge funds have recently bought and sold shares of the business. Cadian Capital Management LP acquired a new stake in Bowlero during the 3rd quarter valued at $4,810,000. Vanguard Group Inc. grew its stake in Bowlero by 4.8% in the 3rd quarter. Vanguard Group Inc. now owns 4,229,231 shares of the company’s stock valued at $40,685,000 after buying an additional 193,801 shares during the last quarter. Kennedy Capital Management LLC raised its holdings in Bowlero by 283.8% in the 3rd quarter. Kennedy Capital Management LLC now owns 482,083 shares of the company’s stock valued at $4,638,000 after acquiring an additional 356,485 shares during the period. Primecap Management Co. CA acquired a new stake in Bowlero during the third quarter worth approximately $3,145,000. Finally, Private Management Group Inc. acquired a new position in Bowlero in the 3rd quarter valued at $12,217,000. Institutional investors own 68.11% of the company’s stock.

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.