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

Shares of Lucky Strike Entertainment (NYSE:LUCK) reached a new 52-week low on Thursday. The company traded as low as $5.10 and last traded at $5.1310, with a volume of 5509 shares trading hands. The stock had previously closed at $5.17.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Truist Financial set a $10.00 price objective on Lucky Strike Entertainment in a research report on Thursday, August 27th. Zacks Research cut Lucky Strike Entertainment from a “hold” rating to a “strong sell” rating in a report on Monday, August 31st. Weiss Ratings restated a “sell (d)” rating on shares of Lucky Strike Entertainment in a research note on Friday, July 31st. Citizens Jmp started coverage on Lucky Strike Entertainment in a report on Monday, June 29th. They issued a “market perform” rating for the company. Finally, Roth Capital set a $6.50 price target 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, six have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $8.39.

Lucky Strike Entertainment Stock Down 2.6%

The business’s fifty day moving average is $6.08 and its two-hundred day moving average is $7.30. The firm has a market cap of $686.83 million, a price-to-earnings ratio of -14.80 and a beta of 0.66.

Lucky Strike Entertainment (NYSE:LUCK) last announced 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 business had revenue of $303.95 million during the quarter, compared to analysts’ expectations of $311.30 million. Research analysts forecast that Lucky Strike Entertainment will post -0.02 EPS for the current year.

Lucky Strike Entertainment Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 22nd. Stockholders of record on Tuesday, September 8th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend was Tuesday, September 8th. Lucky Strike Entertainment’s dividend payout ratio is -70.59%.

Insider Activity

In other news, CEO Thomas Shannon purchased 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 9th. The shares were acquired at an average price 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 approximately $18,423,840. The trade was a 0.96% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sandeep Mathrani acquired 9,350 shares of the stock in a transaction that occurred on Friday, August 28th. The stock was purchased at an average price of $6.41 per share, with a total value of $59,933.50. Following the completion of the transaction, the director owned 9,350 shares of the company’s stock, valued at approximately $59,933.50. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders purchased 43,537 shares of company stock worth $261,064. 84.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Lucky Strike Entertainment

Hedge funds and other institutional investors have recently bought and sold shares of the business. Squarepoint Ops LLC grew its holdings in Lucky Strike Entertainment by 69.8% during the 2nd quarter. Squarepoint Ops LLC now owns 22,158 shares of the company’s stock worth $166,000 after acquiring an additional 9,112 shares during the period. Great Lakes Advisors LLC acquired a new position in shares of Lucky Strike Entertainment in the 2nd quarter valued at $1,361,000. Rice Hall James & Associates LLC boosted 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 purchasing an additional 166,104 shares during the last quarter. MYDA Advisors LLC bought a new position in shares of Lucky Strike Entertainment in the 4th quarter worth $424,000. Finally, Maven Securities LTD bought a new position in shares of Lucky Strike Entertainment in the 4th quarter worth $1,036,000. 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.