Lucky Strike Entertainment (NYSE:LUCK) Releases Earnings Results, Misses Expectations By $0.18 EPS

Key Points

• Lucky Strike Entertainment reported a quarterly loss of $0.21 per share, missing analysts’ expected loss of $0.03 by $0.18. Revenue reached $303.95 million, below the $311.30 million consensus estimate.
• LUCK shares opened at $6.68, with a market capitalization of approximately $912.6 million and a 52-week trading range of $5.70 to $11.19.
• Analysts collectively rate the stock “Hold,” with an average price target of $8.72; institutional investors own 68.11% of the company, and several funds recently increased or initiated positions.

Lucky Strike Entertainment (NYSE:LUCK - Get Free Report) announced its quarterly earnings results on Thursday. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.18), FiscalAI reports. The company had revenue of $303.95 million during the quarter, compared to analysts' expectations of $311.30 million.

Lucky Strike Entertainment Stock Performance

NYSE:LUCK opened at $6.68 on Thursday. Lucky Strike Entertainment has a fifty-two week low of $5.70 and a fifty-two week high of $11.19. The company has a 50 day moving average price of $7.14 and a 200 day moving average price of $7.83. The stock has a market capitalization of $912.63 million, a P/E ratio of -10.77 and a beta of 0.63.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on LUCK shares. Jefferies Financial Group set a $12.00 price target on shares of Lucky Strike Entertainment in a research note on Wednesday, May 6th. UBS Group lowered Lucky Strike Entertainment to a "hold" rating and set a $6.50 price objective on the stock. in a report on Thursday, May 7th. Stifel Nicolaus set a $9.00 price target on shares of Lucky Strike Entertainment in a research note on Thursday, May 7th. Citigroup began coverage on shares of Lucky Strike Entertainment in a research note on Monday, June 29th. They issued a "market perform" rating on the stock. Finally, Wall Street Zen upgraded Lucky Strike Entertainment from a "strong sell" rating to a "sell" rating in a report on Saturday, June 20th. Four research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Lucky Strike Entertainment has an average rating of "Hold" and an average target price of $8.72.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of LUCK. Millennium Management LLC lifted its stake in Lucky Strike Entertainment by 291.5% during the 3rd quarter. Millennium Management LLC now owns 412,218 shares of the company's stock worth $4,221,000 after acquiring an additional 306,931 shares in the last quarter. Geode Capital Management LLC acquired a new position in Lucky Strike Entertainment in the 2nd quarter valued at about $2,661,000. UBS Group AG increased its stake in Lucky Strike Entertainment by 46.7% during the third quarter. UBS Group AG now owns 172,518 shares of the company's stock worth $1,767,000 after purchasing an additional 54,919 shares during the period. Jane Street Group LLC acquired a new stake in shares of Lucky Strike Entertainment during the second quarter worth about $1,117,000. Finally, XTX Topco Ltd acquired a new stake in shares of Lucky Strike Entertainment during the fourth quarter worth about $428,000. 68.11% of the stock is currently owned by hedge funds and other institutional investors.

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.

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