Lucky Strike Entertainment (NYSE:LUCK) Stock Price Up 14% – Here’s Why

Shares of Lucky Strike Entertainment (NYSE:LUCK) were up 14% on Tuesday. The stock traded as high as $5.14 and last traded at $5.2990. 9,766 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 125,518 shares. The stock had previously closed at $4.65.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Citizens Jmp began coverage on Lucky Strike Entertainment in a research report on Monday, June 29th. They issued a “market perform” rating on the stock. Citigroup assumed coverage on Lucky Strike Entertainment in a research report on Monday, June 29th. They set a “market perform” rating for the company. Roth Capital set a $6.50 price target on Lucky Strike Entertainment in a research note on Friday, August 28th. Stifel Nicolaus decreased their price target 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. Finally, Truist Financial set a $10.00 price target on Lucky Strike Entertainment in a report on Thursday, August 27th. Four investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Lucky Strike Entertainment presently has a consensus rating of “Hold” and an average target price of $8.39.

Lucky Strike Entertainment Trading Down 7.9%

The stock has a 50 day moving average price of $5.73 and a two-hundred day moving average price of $7.08. The company has a market cap of $639.39 million, a price-to-earnings ratio of -13.79 and a beta of 0.66.

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

Lucky Strike Entertainment Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 22nd. Stockholders of record on Tuesday, September 8th were paid a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, September 8th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 5.1%. Lucky Strike Entertainment’s dividend payout ratio is -70.59%.

Insider Transactions at Lucky Strike Entertainment

In other news, CEO Thomas F. Shannon acquired 30,000 shares of Lucky Strike Entertainment stock in a transaction that occurred on Wednesday, September 9th. The shares were acquired at an average price of $5.86 per share, with a total value of $175,800.00. Following the purchase, the chief executive officer directly owned 3,144,000 shares of the company’s stock, valued at $18,423,840. The trade was a 0.96% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sandeep Mathrani acquired 9,350 shares of the firm’s stock in a transaction that occurred 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 acquisition, the director owned 9,350 shares of the company’s stock, valued at approximately $59,933.50. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders bought 43,537 shares of company stock valued at $261,064. 84.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Lucky Strike Entertainment

Several large investors have recently bought and sold shares of the company. Squarepoint Ops LLC boosted its position in shares of Lucky Strike Entertainment by 69.8% during the second quarter. Squarepoint Ops LLC now owns 22,158 shares of the company’s stock worth $166,000 after purchasing an additional 9,112 shares in the last quarter. Rice Hall James & Associates LLC increased its position in shares of Lucky Strike Entertainment by 52.7% in the 1st quarter. Rice Hall James & Associates LLC now owns 481,189 shares of the company’s stock valued at $4,003,000 after buying an additional 166,104 shares in the last quarter. Finally, Great Lakes Advisors LLC bought a new stake in shares of Lucky Strike Entertainment in the 2nd quarter valued at $1,361,000. Institutional investors own 68.11% of the company’s stock.

Lucky Strike Entertainment Company Profile

Lucky Strike Entertainment Corp. is an operator of location-based entertainment venues centered on bowling. The company provides recreational and social experiences through bowling lanes, arcade games, food and beverage offerings, and spaces for parties, corporate events and other group gatherings.

The company operates venues under brands that include Lucky Strike, Bowlero and AMF, serving customers across the United States and Canada. Its locations range from upscale entertainment venues to traditional bowling centers, with offerings designed for families, casual visitors, league bowlers and private-event guests.

Lucky Strike Entertainment was previously known as Bowlero Corp.