Bowlero Corp. (NYSE:BOWL – Get Rating) was the recipient of a significant growth in short interest in September. As of September 30th, there was short interest totalling 8,600,000 shares, a growth of 44.5% from the September 15th total of 5,950,000 shares. Based on an average daily volume of 630,500 shares, the days-to-cover ratio is currently 13.6 days. Approximately 9.0% of the company’s shares are sold short.
Hedge Funds Weigh In On Bowlero
Institutional investors have recently added to or reduced their stakes in the business. Wolverine Asset Management LLC lifted its stake in Bowlero by 84.9% in the first quarter. Wolverine Asset Management LLC now owns 10,509 shares of the company’s stock valued at $111,000 after buying an additional 4,825 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in shares of Bowlero during the first quarter valued at approximately $974,000. Telemark Asset Management LLC increased its holdings in shares of Bowlero by 12.9% during the first quarter. Telemark Asset Management LLC now owns 2,900,000 shares of the company’s stock valued at $30,885,000 after acquiring an additional 330,524 shares in the last quarter. Alta Fundamental Advisers LLC increased its holdings in shares of Bowlero by 11.5% during the first quarter. Alta Fundamental Advisers LLC now owns 2,834,289 shares of the company’s stock valued at $30,185,000 after acquiring an additional 293,174 shares in the last quarter. Finally, Schwartz Investment Counsel Inc. increased its holdings in shares of Bowlero by 12.1% during the first quarter. Schwartz Investment Counsel Inc. now owns 464,574 shares of the company’s stock valued at $4,948,000 after acquiring an additional 50,000 shares in the last quarter. 66.31% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities analysts recently commented on the company. Oppenheimer assumed coverage on Bowlero in a research note on Monday, October 3rd. They issued an “outperform” rating and a $16.00 price objective on the stock. JPMorgan Chase & Co. lifted their price objective on Bowlero from $17.00 to $18.00 and gave the stock an “overweight” rating in a research note on Friday, September 16th. Finally, MKM Partners lifted their price objective on Bowlero from $14.00 to $17.00 in a research note on Friday, September 16th.
Bowlero Price Performance
BOWL traded up $0.63 during trading on Friday, hitting $14.04. The company’s stock had a trading volume of 1,012,435 shares, compared to its average volume of 912,394. Bowlero has a twelve month low of $6.96 and a twelve month high of $14.31. The stock’s fifty day moving average price is $12.38 and its 200-day moving average price is $11.39.
Bowlero Company Profile
Bowlero Corp. operates bowling entertainment centers under the AMF and Bowlero brand names. The company also provides hosting and overseeing professional and non-professional bowling tournaments and related broadcasting. As of July 3, 2022, it operated approximately 317 centers in the United States, Mexico, and Canada.