Bowlero Corp. (NYSE:BOWL) Short Interest Down 5.8% in March

Bowlero Corp. (NYSE:BOWL) was the target of 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 trading volume of 1,100,000 shares, the days-to-cover ratio is currently 13.6 days. Currently, 18.0% of the company’s stock are sold short.

Bowlero Stock Up 0.6 %

Shares of BOWL traded up $0.07 during midday trading on Wednesday, hitting $11.96. The company had a trading volume of 436,844 shares, compared to its average volume of 589,258. The company’s 50 day moving average price is $13.18 and its 200 day moving average price is $12.05. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of 66.44 and a beta of 0.50. Bowlero has a 52 week low of $8.85 and a 52 week high of $16.20. 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 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). The company had revenue of $305.67 million during the quarter, compared to the consensus estimate of $300.46 million. Bowlero had a return on equity of 98.75% and a net margin of 6.33%. On average, equities research analysts predict that Bowlero will post 0.17 EPS for the current year.

Bowlero Announces Dividend

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

Insider Activity at Bowlero

In related news, Director Michelle D. Wilson sold 87,267 shares of Bowlero stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $12.88, for a total transaction of $1,123,998.96. Following the transaction, the director now owns 1,040,204 shares in the company, valued at approximately $13,397,827.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 56.54% of the company’s stock.

Institutional Investors Weigh In On Bowlero

A number of institutional investors have recently modified their holdings of the business. PNC Financial Services Group Inc. grew 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 buying an additional 2,500 shares during the last quarter. GLOBALT Investments LLC GA bought a new stake in shares of Bowlero during the 4th quarter valued at about $625,000. Bullseye Asset Management LLC grew its position in shares of Bowlero by 39.2% during the 4th quarter. Bullseye Asset Management LLC now owns 159,940 shares of the company’s stock valued at $2,265,000 after buying an additional 45,000 shares during the last quarter. GSA Capital Partners LLP grew its position in shares of Bowlero by 175.6% during the 4th quarter. GSA Capital Partners LLP now owns 158,041 shares of the company’s stock valued at $2,238,000 after buying an additional 100,704 shares during the last quarter. Finally, Barclays PLC grew its position in shares of Bowlero by 396.9% during the 4th quarter. Barclays PLC now owns 67,651 shares of the company’s stock valued at $957,000 after buying an additional 54,037 shares during the last quarter. Institutional investors own 68.11% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.