Lucky Strike Entertainment (NYSE:LUCK) Reaches New 12-Month Low – Here’s What Happened

Shares of Lucky Strike Entertainment (NYSE:LUCK) reached a new 52-week low on Wednesday . The stock traded as low as $5.52 and last traded at $5.5250, with a volume of 105187 shares changing hands. The stock had previously closed at $5.81.

Analyst Ratings Changes

Several analysts recently commented on LUCK shares. Citigroup assumed coverage on Lucky Strike Entertainment in a research note on Monday, June 29th. They issued a “market perform” rating on the stock. Wall Street Zen upgraded shares of Lucky Strike Entertainment from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 20th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Lucky Strike Entertainment in a research note on Friday, July 31st. Zacks Research lowered shares of Lucky Strike Entertainment from a “hold” rating to a “strong sell” rating in a report on Monday, August 31st. Finally, Stifel Nicolaus reduced their target price on Lucky Strike Entertainment from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, August 28th. Four equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Lucky Strike Entertainment currently has a consensus rating of “Hold” and an average target price of $8.39.

Lucky Strike Entertainment Stock Down 5.0%

The company has a fifty day simple moving average of $6.88 and a two-hundred day simple moving average of $7.74. The stock has a market capitalization of $752.53 million, a P/E ratio of -16.23 and a beta of 0.62.

Lucky Strike Entertainment (NYSE:LUCK) last released its quarterly earnings results on Thursday, August 27th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.15). The firm had revenue of $303.95 million during the quarter, compared to the consensus estimate of $311.30 million. As a group, equities analysts forecast that Lucky Strike Entertainment will post -0.02 earnings per share for the current year.

Lucky Strike Entertainment Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 22nd. Investors of record on Tuesday, September 8th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $0.24 dividend on an annualized basis and a yield of 4.3%. Lucky Strike Entertainment’s dividend payout ratio is presently -70.59%.

Insider Transactions at Lucky Strike Entertainment

In other news, Director Sandeep Mathrani purchased 9,350 shares of the company’s stock in a transaction on Friday, August 28th. The shares were purchased at an average price of $6.41 per share, with a total value of $59,933.50. Following the purchase, the director directly owned 9,350 shares of the company’s stock, valued at $59,933.50. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In the last three months, insiders bought 12,550 shares of company stock worth $79,878. 84.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Lucky Strike Entertainment

A number of large investors have recently bought and sold shares of LUCK. State of Wyoming bought a new position in shares of Lucky Strike Entertainment during the 4th quarter worth approximately $74,000. Bank of America Corp DE bought a new position in Lucky Strike Entertainment in the second quarter valued at $94,000. Invesco Ltd. acquired a new stake in Lucky Strike Entertainment in the 2nd quarter valued at $114,000. Jain Global LLC bought a new stake in Lucky Strike Entertainment during the 3rd quarter worth about $121,000. Finally, XTX Topco Ltd bought a new stake in Lucky Strike Entertainment during the 2nd quarter worth about $123,000. Institutional investors and hedge funds own 68.11% of the company’s stock.

Lucky Strike Entertainment Company Profile

Lucky Strike Entertainment Corp. engages in operating bowling centers. It offers entertainment concepts with lounge seating, arcades, food and beverage offerings, and hosting and overseeing professional and non-professional bowling tournaments and related broadcasting. The company was founded by Thomas F. Shannon in 1997 and is headquartered in Mechanicsville, VA.