Lucky Strike Entertainment (NYSE:LUCK) Stock Has Average Price Target of $8.39 According to Brokerages

Key Points

• Analysts have a consensus “Hold” rating on Lucky Strike Entertainment, with three sell, six hold and four buy recommendations. The average 12-month price target is $8.39, above the stock’s reported $5.16 price.
• Lucky Strike reported quarterly adjusted earnings of -$0.20 per share, missing the consensus estimate of -$0.05, while revenue of $303.95 million also fell short of expectations.
• Insiders bought 43,537 shares worth $261,064 over the past 90 days, and insiders own 84.20% of the company. The company also pays a quarterly dividend of $0.06 per share, representing a 4.7% annualized yield.

Lucky Strike Entertainment (NYSE:LUCK - Get Free Report) has been given an average recommendation of "Hold" by the thirteen research firms that are currently covering the firm, Marketbeat reports. Three analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $8.39.

Several research firms have recently issued reports on LUCK. Weiss Ratings reissued a "sell (d)" rating on shares of Lucky Strike Entertainment in a research note on Friday, July 31st. Jefferies Financial Group set a $10.00 price target on Lucky Strike Entertainment in a research report on Thursday, August 27th. Roth Capital set a $6.50 price target on Lucky Strike Entertainment in a report on Friday, August 28th. Truist Financial set a $10.00 target price on Lucky Strike Entertainment in a research report on Thursday, August 27th. Finally, Citizens Jmp began coverage on Lucky Strike Entertainment in a research report on Monday, June 29th. They issued a "market perform" rating on the stock.

Insider Transactions at Lucky Strike Entertainment

In related news, CEO Thomas Shannon bought 30,000 shares of Lucky Strike Entertainment stock in a transaction dated Wednesday, September 9th. The shares were bought at an average cost of $5.86 per share, for a total transaction of $175,800.00. Following the completion of the transaction, the chief executive officer owned 3,144,000 shares of the company's stock, valued at approximately $18,423,840. This trade represents a 0.96% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Sandeep Mathrani acquired 9,350 shares of the company's stock in a transaction that occurred on Friday, August 28th. The stock was bought 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 $59,933.50. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders acquired 43,537 shares of company stock valued at $261,064. Insiders own 84.20% of the company's stock.

Hedge Funds Weigh In On Lucky Strike Entertainment

Hedge funds and other institutional investors have recently made changes to their positions in the company. Squarepoint Ops LLC raised its position in 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 buying an additional 9,112 shares during the last quarter. Great Lakes Advisors LLC acquired a new stake in Lucky Strike Entertainment in the 2nd quarter worth about $1,361,000. Finally, Rice Hall James & Associates LLC grew its holdings in shares of Lucky Strike Entertainment by 38.5% during the 4th quarter. Rice Hall James & Associates LLC now owns 315,085 shares of the company's stock worth $2,669,000 after purchasing an additional 87,656 shares in the last quarter. 68.11% of the stock is owned by institutional investors.

Lucky Strike Entertainment Trading Down 0.1%

LUCK stock opened at $5.16 on Wednesday. The company has a market capitalization of $702.78 million, a P/E ratio of -15.16 and a beta of 0.66. Lucky Strike Entertainment has a twelve month low of $4.87 and a twelve month high of $10.10. The firm has a 50 day simple moving average of $5.94 and a 200-day simple moving average of $7.22.

Lucky Strike Entertainment (NYSE:LUCK - Get Free Report) last issued its quarterly earnings results on Thursday, August 27th. The company reported ($0.20) earnings per share for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.15). The firm had revenue of $303.95 million during the quarter, compared to analyst estimates of $311.30 million. On average, research analysts predict that Lucky Strike Entertainment will post -0.02 EPS for the current year.

Lucky Strike Entertainment Announces Dividend

The firm also recently declared 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 yield of 4.7%. The ex-dividend date of this dividend was Tuesday, September 8th. Lucky Strike Entertainment's dividend payout ratio (DPR) is currently -70.59%.

About Lucky Strike Entertainment

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.

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