Lucky Strike Entertainment (NYSE:LUCK) Shares Down 1.7% - Time to Sell?

Key Points

• Lucky Strike Entertainment's shares fell by 1.7% to $10.04, significantly below the closed price of $10.21, with trading volume down 56% from its average.
• Analysts have mixed opinions on the stock, with reports indicating a consensus rating of "Hold" and target prices ranging from $9.00 to $16.00.
• The company announced a quarterly dividend of $0.055, with an annualized yield of 2.2%, despite a payout ratio of -314.29%.

Lucky Strike Entertainment (NYSE:LUCK - Get Free Report)'s stock price traded down 1.7% during trading on Wednesday . The company traded as low as $9.99 and last traded at $10.04. 73,170 shares traded hands during trading, a decline of 56% from the average session volume of 166,740 shares. The stock had previously closed at $10.21.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Stifel Nicolaus cut their price target on shares of Lucky Strike Entertainment from $13.00 to $12.00 and set a "buy" rating on the stock in a report on Friday, June 20th. Zacks Research upgraded shares of Lucky Strike Entertainment to a "strong sell" rating in a report on Tuesday, August 12th. Canaccord Genuity Group reiterated a "buy" rating and set a $16.00 price target (down previously from $18.00) on shares of Lucky Strike Entertainment in a report on Monday, May 5th. Finally, Roth Capital lowered 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 report on Monday, May 12th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Lucky Strike Entertainment has an average rating of "Hold" and a consensus target price of $11.60.

Lucky Strike Entertainment Stock Up 0.8%

The firm's 50 day simple moving average is $9.92 and its two-hundred day simple moving average is $9.69. The stock has a market capitalization of $1.49 billion, a P/E ratio of -151.98 and a beta of 0.75.

Lucky Strike Entertainment Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 29th will be given a dividend of $0.055 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.22 annualized dividend and a dividend yield of 2.1%. Lucky Strike Entertainment's payout ratio is presently -314.29%.

Insiders Place Their Bets

In other news, CEO Thomas F. Shannon purchased 20,000 shares of the business's stock in a transaction that occurred on Wednesday, May 28th. The shares were acquired at an average cost of $8.73 per share, for a total transaction of $174,600.00. Following the completion of the acquisition, the chief executive officer owned 2,364,000 shares in the company, valued at $20,637,720. This trade represents a 0.85% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have bought 22,350 shares of company stock worth $194,778 in the last 90 days. 79.90% of the stock is currently owned by insiders.

Institutional Trading of Lucky Strike Entertainment

Several hedge funds and other institutional investors have recently modified their holdings of the business. State of Wyoming bought a new stake in Lucky Strike Entertainment during the 2nd quarter worth approximately $222,000. Bank of America Corp DE bought a new position in shares of Lucky Strike Entertainment in the 2nd quarter worth $94,000. Jane Street Group LLC bought a new position in shares of Lucky Strike Entertainment in the 2nd quarter worth $1,117,000. Invesco Ltd. bought a new position in shares of Lucky Strike Entertainment in the 2nd quarter worth $114,000. Finally, Systematic Financial Management LP bought a new position in shares of Lucky Strike Entertainment in the 2nd quarter worth $5,785,000. Institutional investors own 68.11% of the company's stock.

About Lucky Strike Entertainment

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.