Lucky Strike Entertainment (NYSE:LUCK) Sets New 1-Year Low – Here’s What Happened

Shares of Lucky Strike Entertainment (NYSE:LUCK) reached a new 52-week low on Friday. The stock traded as low as $4.86 and last traded at $4.87, with a volume of 30,020 shares changing hands. The stock had previously closed at $5.09.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on LUCK. Truist Financial set a $10.00 target price on shares of Lucky Strike Entertainment in a research note on Thursday, August 27th. Jefferies Financial Group set a $10.00 price objective on Lucky Strike Entertainment in a research report on Thursday, August 27th. Stifel Nicolaus lowered their price target on shares of 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. Citizens Jmp assumed coverage on shares of Lucky Strike Entertainment in a research note on Monday, June 29th. They set a “market perform” rating for the company. Finally, Wall Street Zen raised shares of Lucky Strike Entertainment from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 20th. Four analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $8.39.

Lucky Strike Entertainment Trading Down 4.4%

The firm has a market cap of $663.11 million, a price-to-earnings ratio of -14.31 and a beta of 0.66. The company has a 50 day moving average of $5.84 and a 200 day moving average of $7.16.

Lucky Strike Entertainment (NYSE:LUCK) last issued its quarterly earnings data on Thursday, August 27th. The company reported ($0.20) earnings per share (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 analyst estimates of $311.30 million. Equities analysts forecast that Lucky Strike Entertainment will post -0.02 EPS for the current fiscal year.

Lucky Strike Entertainment Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 22nd. Shareholders 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 yield of 4.9%. Lucky Strike Entertainment’s payout ratio is presently -70.59%.

Insider Buying and Selling

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

Institutional Investors Weigh In On Lucky Strike Entertainment

Several institutional investors have recently added to or reduced their stakes in the stock. Rice Hall James & Associates LLC boosted its stake in 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 purchasing an additional 166,104 shares during the period. Great Lakes Advisors LLC acquired a new stake in shares of Lucky Strike Entertainment in the 2nd quarter valued at about $1,361,000. Finally, Squarepoint Ops LLC raised 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. 68.11% of the stock is owned by institutional investors.

Lucky Strike Entertainment Company Profile

Lucky Strike Entertainment Corporation (NYSE: LUCK) is an operator of bowling and location-based entertainment venues. Its centers offer traditional and boutique bowling, arcade games, billiards, laser tag, and other recreational activities, along with food and beverage services.

The company operates venues under brands that include Lucky Strike, Bowlero and AMF. Its facilities serve a range of customers, including families, casual entertainment seekers, league bowlers, and corporate or private-event groups.