Lucky Strike Entertainment (NYSE:LUCK) Reaches New 1-Year Low Following Weak Earnings

Lucky Strike Entertainment (NYSE:LUCK)’s stock price reached a new 52-week low on Thursday following a dissappointing earnings announcement. The stock traded as low as $5.52 and last traded at $5.95, with a volume of 198979 shares trading hands. The stock had previously closed at $6.74.

The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.18). The firm had revenue of $303.95 million for the quarter, compared to the consensus estimate of $311.30 million.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on LUCK shares. Weiss Ratings reiterated a “sell (d)” rating on shares of Lucky Strike Entertainment in a report on Friday, July 31st. Wall Street Zen raised shares of Lucky Strike Entertainment from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 20th. Craig Hallum downgraded Lucky Strike Entertainment from a “buy” rating to a “hold” rating and set a $6.50 price target on the stock. in a report on Thursday, May 7th. Jefferies Financial Group set a $12.00 price objective on Lucky Strike Entertainment in a research note on Wednesday, May 6th. Finally, UBS Group lowered shares of Lucky Strike Entertainment to a “hold” rating and set a $6.50 price target for the company. in a research report on Thursday, May 7th. Four research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Lucky Strike Entertainment presently has a consensus rating of “Hold” and a consensus price target of $8.72.

Hedge Funds Weigh In On Lucky Strike Entertainment

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

Lucky Strike Entertainment Stock Performance

The firm has a 50 day moving average of $7.14 and a two-hundred day moving average of $7.83. The stock has a market cap of $851.29 million, a P/E ratio of -9.78 and a beta of 0.63.

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.