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

Bowlero Corp. (NYSE:BOWL - Get Free Report) was the target of a significant drop in short interest in March. As of March 31st, there was short interest totalling 15,000,000 shares, a drop 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 short-interest ratio is presently 13.6 days. Currently, 18.0% of the shares of the stock are sold short.

Analyst Ratings Changes

Several research firms have issued reports on BOWL. Roth Mkm increased their price objective on shares of Bowlero from $14.00 to $17.00 and gave the company a "buy" rating in a report on Tuesday, February 6th. Oppenheimer raised their price target on shares of 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 data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $19.29.

Insider Buying and Selling at Bowlero

In other Bowlero news, Director Michelle D. Wilson sold 87,267 shares of the 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 directly owns 1,040,204 shares of the company's stock, valued at $13,397,827.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 56.54% of the company's stock.

Institutional Investors Weigh In On Bowlero

Several hedge funds and other institutional investors have recently bought and sold shares of BOWL. Ameriprise Financial Inc. increased its position in shares of Bowlero by 305.6% during the first quarter. Ameriprise Financial Inc. now owns 3,866,961 shares of the company's stock valued at $65,546,000 after acquiring an additional 2,913,597 shares during the last quarter. Vanguard Group Inc. acquired a new stake in shares of Bowlero during the first quarter valued at about $26,555,000. Two Sigma Investments LP increased its position in shares of Bowlero by 314.2% during the first quarter. Two Sigma Investments LP now owns 1,827,165 shares of the company's stock valued at $30,970,000 after acquiring an additional 1,386,087 shares during the last quarter. Balyasny Asset Management L.P. acquired a new stake in shares of Bowlero during the fourth quarter valued at about $18,595,000. Finally, Private Management Group Inc. acquired a new stake in shares of Bowlero during the third quarter valued at about $12,217,000. 68.11% of the stock is currently owned by institutional investors and hedge funds.

Bowlero Price Performance

Shares of NYSE:BOWL traded up $0.07 during midday trading on Tuesday, hitting $11.96. The company's stock had a trading volume of 436,844 shares, compared to its average volume of 1,086,525. Bowlero has a 12-month low of $8.85 and a 12-month high of $16.20. The company has a market cap of $1.79 billion, a P/E ratio of 66.44 and a beta of 0.50. The business's 50 day simple moving average is $13.18 and its 200 day simple moving average is $12.05. 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 (NYSE:BOWL - Get Free Report) last released its quarterly earnings data on Monday, February 5th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.13). Bowlero had a return on equity of 98.75% and a net margin of 6.33%. The firm had revenue of $305.67 million for the quarter, compared to analyst estimates of $300.46 million. On average, analysts forecast that Bowlero will post 0.17 EPS for the current year.

Bowlero Dividend Announcement

The company 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 was Thursday, February 22nd. Bowlero's payout ratio is currently 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.