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

Bowlero Corp. (NYSE:BOWL) saw a large decline in short interest in the month of 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 presently 13.6 days. Approximately 18.0% of the shares of the company are short sold.

Insiders Place Their Bets

In other Bowlero news, Director Michelle D. Wilson sold 87,267 shares of Bowlero 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 sale, the director now owns 1,040,204 shares of the company’s stock, valued at approximately $13,397,827.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 56.54% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Bowlero

Several large investors have recently bought and sold shares of BOWL. Tower Research Capital LLC TRC boosted its holdings in shares of Bowlero by 233.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,424 shares of the company’s stock worth $28,000 after purchasing an additional 1,696 shares during the last quarter. Parkside Financial Bank & Trust boosted its holdings in shares of Bowlero by 159.2% during the 2nd quarter. Parkside Financial Bank & Trust now owns 3,173 shares of the company’s stock worth $37,000 after purchasing an additional 1,949 shares during the last quarter. PNC Financial Services Group Inc. acquired a new position in shares of Bowlero during the 3rd quarter worth approximately $51,000. Advisor Group Holdings Inc. boosted its holdings in shares of Bowlero by 122.9% during the 4th quarter. Advisor Group Holdings Inc. now owns 5,350 shares of the company’s stock worth $72,000 after purchasing an additional 2,950 shares during the last quarter. Finally, Citigroup Inc. boosted its holdings in shares of Bowlero by 439.2% during the 1st quarter. Citigroup Inc. now owns 6,309 shares of the company’s stock worth $107,000 after purchasing an additional 5,139 shares during the last quarter. 68.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Bowlero Price Performance

Shares of Bowlero stock traded up $0.07 on Wednesday, hitting $11.96. The company’s stock had a trading volume of 436,844 shares, compared to its average volume of 589,258. The company has a debt-to-equity ratio of 46.80, a quick ratio of 1.14 and a current ratio of 1.22. Bowlero has a 1 year low of $8.85 and a 1 year high of $16.20. The firm has a fifty day moving average price of $13.18 and a 200-day moving average price of $12.05. The company has a market capitalization of $1.79 billion, a price-to-earnings ratio of 66.44 and a beta of 0.50.

Bowlero (NYSE:BOWL) last announced its quarterly 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 business had revenue of $305.67 million during the quarter, compared to analysts’ expectations of $300.46 million. As a group, sell-side analysts anticipate that Bowlero will post 0.17 earnings per share for the current fiscal year.

Bowlero Dividend Announcement

The firm also recently declared 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 was Thursday, February 22nd. Bowlero’s dividend payout ratio is presently 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.