Lucky Strike Entertainment (NYSE:LUCK) Shares Down 7.6% – Time to Sell?

Lucky Strike Entertainment (NYSE:LUCK)’s stock price dropped 7.6% during trading on Wednesday. The company traded as low as $4.07 and last traded at $4.04. Approximately 25,505 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 125,077 shares. The stock had previously closed at $4.37.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Truist Financial dropped their price target on shares of Lucky Strike Entertainment from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Friday, October 23rd. Zacks Research raised Lucky Strike Entertainment from a “strong sell” rating to a “hold” rating in a report on Monday. Jefferies Financial Group set a $10.00 price objective on Lucky Strike Entertainment in a research note on Thursday, August 27th. Stifel Nicolaus cut their target price on Lucky Strike Entertainment from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, August 28th. Finally, Roth Capital set a $6.50 price objective on shares of Lucky Strike Entertainment in a research report on Friday, August 28th. Four research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $8.17.

Lucky Strike Entertainment Price Performance

The company has a 50 day simple moving average of $5.43 and a two-hundred day simple moving average of $7.30. The company has a market capitalization of $552.13 million, a P/E ratio of -11.91 and a beta of 0.66.

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

Lucky Strike Entertainment Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 22nd. Stockholders of record on Tuesday, September 8th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date of this dividend was Tuesday, September 8th. Lucky Strike Entertainment’s dividend payout ratio (DPR) is -70.59%.

Insiders Place Their Bets

In other Lucky Strike Entertainment news, CEO Thomas Shannon purchased 30,000 shares of the business’s stock in a transaction dated Wednesday, September 9th. The stock was bought at an average cost of $5.86 per share, for a total transaction of $175,800.00. Following the completion of the acquisition, the chief executive officer directly owned 3,144,000 shares in the company, valued at $18,423,840. This represents a 0.96% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sandeep Mathrani bought 9,350 shares of the company’s stock in a transaction on Friday, August 28th. The shares were acquired at an average price of $6.41 per share, with a total value of $59,933.50. Following the transaction, the director directly owned 9,350 shares in the company, valued at approximately $59,933.50. The trade was a ∞ increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders have purchased 43,537 shares of company stock valued at $261,064. Insiders own 84.20% of the company’s stock.

Institutional Trading of Lucky Strike Entertainment

A number of hedge funds have recently bought and sold shares of LUCK. Squarepoint Ops LLC lifted its stake in shares of Lucky Strike Entertainment by 69.8% in the 2nd quarter. Squarepoint Ops LLC now owns 22,158 shares of the company’s stock valued at $166,000 after purchasing an additional 9,112 shares during the period. Great Lakes Advisors LLC acquired a new position in Lucky Strike Entertainment in the 2nd quarter valued at about $1,361,000. Finally, Rice Hall James & Associates LLC raised 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 worth $4,003,000 after buying an additional 166,104 shares during the period. Hedge funds and other 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.