Lucky Strike Entertainment (NYSE:LUCK) Hits New 12-Month Low After Earnings Miss

Lucky Strike Entertainment (NYSE:LUCK - Get Free Report)'s stock price hit a new 52-week low on Friday following a weaker than expected earnings announcement. The stock traded as low as $7.66 and last traded at $8.26, with a volume of 1171972 shares changing hands. The stock had previously closed at $9.57.

The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.16). The company had revenue of $339.88 million for the quarter, compared to analysts' expectations of $361.42 million. Lucky Strike Entertainment had a negative return on equity of 35.76% and a net margin of 1.11%.

Lucky Strike Entertainment Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be paid a dividend of $0.055 per share. The ex-dividend date is Friday, May 23rd. This represents a $0.22 annualized dividend and a dividend yield of 2.39%. Lucky Strike Entertainment's dividend payout ratio is currently -314.29%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on LUCK shares. Roth Capital cut shares of Lucky Strike Entertainment from a "buy" rating to a "neutral" rating and set a $9.00 price target on the stock. in a research note on Monday. Truist Financial decreased their price target on shares of Lucky Strike Entertainment from $14.00 to $11.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Canaccord Genuity Group restated a "buy" rating and issued a $16.00 price target (down previously from $18.00) on shares of Lucky Strike Entertainment in a report on Monday, May 5th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Lucky Strike Entertainment from $12.00 to $10.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th.

Insider Buying and Selling

In other news, CEO Thomas F. Shannon acquired 44,000 shares of the company's stock in a transaction dated Friday, May 9th. The shares were bought at an average price of $8.48 per share, for a total transaction of $373,120.00. Following the completion of the purchase, the chief executive officer now directly owns 2,344,000 shares of the company's stock, valued at approximately $19,877,120. This trade represents a 1.91% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Brett I. Parker sold 1,747,434 shares of Lucky Strike Entertainment stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $11.54, for a total transaction of $20,165,388.36. Following the completion of the sale, the insider now owns 498,092 shares of the company's stock, valued at approximately $5,747,981.68. This trade represents a 77.82% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 57,197 shares of company stock valued at $493,533. Insiders own 79.90% of the company's stock.

Lucky Strike Entertainment Trading Up 0.5%

The firm has a market capitalization of $1.32 billion, a P/E ratio of -920.08 and a beta of 0.80. The firm has a 50 day simple moving average of $9.27.

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.