Lucky Strike Entertainment (NYSE:LUCK - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Friday following a weaker than expected earnings announcement. The company traded as low as $7.66 and last traded at $8.26, with a volume of 1171972 shares traded. 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 business had revenue of $339.88 million during the quarter, compared to the consensus estimate 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 Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be issued a $0.055 dividend. The ex-dividend date is Friday, May 23rd. This represents a $0.22 dividend on an annualized basis and a yield of 2.51%. Lucky Strike Entertainment's dividend payout ratio is currently -2,200.00%.
Analysts Set New Price Targets
Several brokerages have recently issued reports on LUCK. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $16.00 target price (down from $18.00) on shares of Lucky Strike Entertainment in a report on Monday, May 5th. JPMorgan Chase & Co. decreased their price objective on Lucky Strike Entertainment from $12.00 to $10.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Finally, Truist Financial lowered their target price on Lucky Strike Entertainment from $14.00 to $11.00 and set a "buy" rating for the company in a research report on Monday, April 14th.
Get Our Latest Stock Report on LUCK
Insider Activity at Lucky Strike Entertainment
In other news, Director John Alan Young purchased 3,685 shares of the company's stock in a transaction that occurred on Monday, February 24th. The stock was purchased at an average cost of $10.13 per share, with a total value of $37,329.05. Following the purchase, the director now owns 69,423 shares in the company, valued at approximately $703,254.99. This trade represents a 5.61 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Brett I. Parker sold 1,747,434 shares of the stock in a transaction dated 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 directly owns 498,092 shares in the company, valued at $5,747,981.68. This trade represents a 77.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders acquired 6,163 shares of company stock valued at $62,213. Insiders own 79.90% of the company's stock.
Lucky Strike Entertainment Price Performance
The firm has a market cap of $1.25 billion, a PE ratio of -876.12 and a beta of 0.80. The firm has a fifty day moving average of $9.29.
Lucky Strike Entertainment Company Profile
(
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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.
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