Lucky Strike Entertainment (NYSE:LUCK) CEO Thomas Shannon Acquires 30,000 Shares of Stock

Key Points

• CEO Thomas Shannon purchased 30,000 Lucky Strike shares at an average price of $5.86, investing $175,800 and increasing his direct ownership to 3.144 million shares.
• LUCK shares fell 5.7% to $5.48, near the stock’s 12-month low of $5.44. The company missed quarterly earnings and revenue estimates, reporting a $0.20 per-share loss on $303.95 million in revenue.
• The company declared a quarterly dividend of $0.06, equivalent to a 4.4% annualized yield. Analysts hold a consensus “Hold” rating with an average price target of $8.39.

Lucky Strike Entertainment (NYSE:LUCK - Get Free Report) CEO Thomas Shannon bought 30,000 shares of the stock in a transaction dated Wednesday, September 9th. The shares were acquired at an average price of $5.86 per share, with a total value of $175,800.00. Following the completion of the acquisition, the chief executive officer directly owned 3,144,000 shares of the company's stock, valued at approximately $18,423,840. The trade was a 0.96% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Lucky Strike Entertainment Trading Down 5.7%

Lucky Strike Entertainment stock traded down $0.33 during mid-day trading on Wednesday, hitting $5.48. The company had a trading volume of 149,512 shares, compared to its average volume of 135,563. Lucky Strike Entertainment has a 12 month low of $5.44 and a 12 month high of $10.82. The stock's 50 day moving average price is $6.88 and its two-hundred day moving average price is $7.74. The company has a market capitalization of $746.67 million, a PE ratio of -16.11 and a beta of 0.62.

Lucky Strike Entertainment (NYSE:LUCK - Get Free Report) last announced its quarterly earnings data on Thursday, August 27th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.15). The company had revenue of $303.95 million for the quarter, compared to the consensus estimate of $311.30 million. Equities research analysts anticipate 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 will be paid on Tuesday, September 22nd. Stockholders of record on Tuesday, September 8th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Tuesday, September 8th. Lucky Strike Entertainment's dividend payout ratio (DPR) is -70.59%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Millennium Management LLC lifted its holdings in shares of Lucky Strike Entertainment by 291.5% in 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 during the last quarter. Geode Capital Management LLC bought a new stake in Lucky Strike Entertainment in the second quarter worth about $2,661,000. Great Lakes Advisors LLC purchased a new position in shares of Lucky Strike Entertainment during the second quarter valued at approximately $1,361,000. Rice Hall James & Associates LLC boosted its position in shares of Lucky Strike Entertainment by 52.7% during the first quarter. Rice Hall James & Associates LLC now owns 481,189 shares of the company's stock valued at $4,003,000 after buying an additional 166,104 shares during the period. Finally, Jane Street Group LLC purchased a new stake in shares of Lucky Strike Entertainment in the second quarter worth approximately $1,117,000. 68.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on LUCK. Wall Street Zen raised Lucky Strike Entertainment from a "strong sell" rating to a "sell" rating in a report on Saturday, June 20th. Weiss Ratings reiterated a "sell (d)" rating on shares of Lucky Strike Entertainment in a research report on Friday, July 31st. Citigroup assumed coverage on shares of Lucky Strike Entertainment in a research note on Monday, June 29th. They issued a "market perform" rating for the company. Truist Financial set a $10.00 target price on shares of Lucky Strike Entertainment in a research note on Thursday, August 27th. Finally, Zacks Research cut shares of Lucky Strike Entertainment from a "hold" rating to a "strong sell" rating in a research note on Monday, August 31st. Four equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Lucky Strike Entertainment has a consensus rating of "Hold" and a consensus target price of $8.39.

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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