Lucky Strike Entertainment (NYSE:LUCK) Sets New 12-Month Low After Earnings Miss

Lucky Strike Entertainment (NYSE:LUCK)’s share price hit a new 52-week low on Thursday after the company announced weaker than expected quarterly earnings. The company traded as low as $3.67 and last traded at $3.7320, with a volume of 80,429 shares trading hands. The stock had previously closed at $4.42.

The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.10). The business had revenue of $302.64 million during the quarter, compared to analyst estimates of $297.79 million.

Lucky Strike Entertainment Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 22nd. Investors 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 6.3%. The ex-dividend date of this dividend was Tuesday, September 8th. Lucky Strike Entertainment’s dividend payout ratio (DPR) is currently -70.59%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Zacks Research raised Lucky Strike Entertainment from a “strong sell” rating to a “hold” rating in a research note on Monday, October 26th. Truist Financial decreased 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. Jefferies Financial Group set a $10.00 price objective on shares of Lucky Strike Entertainment in a report on Thursday, August 27th. Weiss Ratings restated a “sell (d)” rating on shares of Lucky Strike Entertainment in a report on Thursday, October 29th. Finally, Roth Capital set a $6.50 price objective on shares of Lucky Strike Entertainment in a research note 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 company’s stock. According to MarketBeat, Lucky Strike Entertainment has an average rating of “Hold” and a consensus target price of $8.17.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Lucky Strike Entertainment

Hedge funds have recently made changes to their positions in the business. Rice Hall James & Associates LLC lifted its stake in Lucky Strike Entertainment by 52.7% in the first quarter. Rice Hall James & Associates LLC now owns 481,189 shares of the company’s stock worth $4,003,000 after acquiring an additional 166,104 shares during the period. Great Lakes Advisors LLC purchased a new position in Lucky Strike Entertainment during the 2nd quarter valued at $1,361,000. Finally, Squarepoint Ops LLC raised its holdings in Lucky Strike Entertainment by 69.8% in the 2nd 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. 68.11% of the stock is owned by hedge funds and other institutional investors.

Lucky Strike Entertainment Trading Down 13.4%

The firm has a market capitalization of $521.87 million, a P/E ratio of -11.19 and a beta of 0.71. The company’s fifty day simple moving average is $5.23 and its 200 day simple moving average is $7.20.

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.