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

Bowlero Corp. (NYSE:BOWL) saw a large decline in short interest in March. As of March 31st, there was short interest totalling 15,000,000 shares, a decline of 5.8% from the March 15th total of 15,930,000 shares. Based on an average daily trading volume, of 1,100,000 shares, the short-interest ratio is currently 13.6 days. Currently, 18.0% of the shares of the stock are short sold.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on BOWL shares. Roth Mkm boosted their price objective on Bowlero from $14.00 to $17.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. Oppenheimer boosted their price objective on Bowlero from $16.00 to $18.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 14th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Bowlero has a consensus rating of “Buy” and an average target price of $19.29.

Insider Transactions at Bowlero

In other news, Director Michelle D. Wilson sold 87,267 shares of the business’s stock in a transaction on 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 owns 1,040,204 shares of the company’s stock, valued at approximately $13,397,827.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 56.54% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC raised its stake in Bowlero by 42.6% during the 3rd quarter. Tower Research Capital LLC TRC now owns 3,049 shares of the company’s stock worth $38,000 after buying an additional 911 shares during the period. Osaic Holdings Inc. raised its stake in shares of Bowlero by 21.8% in the second quarter. Osaic Holdings Inc. now owns 6,587 shares of the company’s stock worth $77,000 after purchasing an additional 1,181 shares during the last quarter. Parkside Financial Bank & Trust raised its stake in shares of Bowlero by 35.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 4,892 shares of the company’s stock worth $69,000 after purchasing an additional 1,286 shares during the last quarter. California State Teachers Retirement System raised its stake in shares of Bowlero by 3.5% in the third quarter. California State Teachers Retirement System now owns 50,941 shares of the company’s stock worth $627,000 after purchasing an additional 1,705 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Bowlero by 23.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,692 shares of the company’s stock worth $93,000 after purchasing an additional 1,842 shares during the last quarter. 68.11% of the stock is owned by institutional investors and hedge funds.

Bowlero Trading Up 0.6 %

Shares of NYSE BOWL traded up $0.07 during trading on Tuesday, reaching $11.96. The company had a trading volume of 436,796 shares, compared to its average volume of 1,086,525. The company’s fifty day moving average price is $13.21 and its 200-day moving average price is $12.03. Bowlero has a 12 month low of $8.85 and a 12 month high of $16.20. The stock has a market cap of $1.79 billion, a P/E ratio of 66.03 and a beta of 0.50. The company has a quick ratio of 1.14, a current ratio of 1.22 and a debt-to-equity ratio of 46.80.

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

Bowlero Dividend Announcement

The firm also recently disclosed a Variable dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were paid a $0.055 dividend. The ex-dividend date was Thursday, February 22nd. Bowlero’s dividend payout ratio is 122.22%.

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.