Lucky Strike Entertainment (NYSE:LUCK) Shares Gap Down After Analyst Downgrade

Key Points

• JPMorgan Chase downgraded Lucky Strike Entertainment from neutral to underweight and cut its price target to $6 from $8, triggering a gap down from $8.76 to an $8.16 open as the shares traded down roughly 6.4%.
• The company reported an EPS miss of ($0.11) vs. a $0.03 consensus and revenue of $306.86M vs. $313.83M, and the stock trades around a $1.13B market cap below its 50- and 200-day moving averages.
• Insider activity shows Director John Alan Young bought 6,000 shares at $6.50 while another insider sold 3,000 shares, and analysts remain mixed (3 Buy, 3 Hold, 2 Sell) with a consensus target of $11.08.

Lucky Strike Entertainment (NYSE:LUCK - Get Free Report) gapped down prior to trading on Thursday after JPMorgan Chase & Co. downgraded the stock from a neutral rating to an underweight rating. The stock had previously closed at $8.76, but opened at $8.16. JPMorgan Chase & Co. now has a $6.00 price target on the stock, down from their previous price target of $8.00. Lucky Strike Entertainment shares last traded at $8.2050, with a volume of 26,824 shares trading hands.

A number of other brokerages have also recently issued reports on LUCK. Roth Mkm reiterated a "neutral" rating and set a $7.50 price objective on shares of Lucky Strike Entertainment in a report on Thursday, February 5th. Weiss Ratings reissued a "sell (d-)" rating on shares of Lucky Strike Entertainment in a report on Monday, December 29th. Canaccord Genuity Group set a $13.00 price objective on Lucky Strike Entertainment in a research note on Thursday, February 5th. Finally, Wall Street Zen lowered Lucky Strike Entertainment from a "hold" rating to a "sell" rating in a research report on Saturday, January 31st. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Lucky Strike Entertainment has an average rating of "Hold" and a consensus target price of $11.08.

Insider Activity at Lucky Strike Entertainment

In other Lucky Strike Entertainment news, Director John Alan Young acquired 6,000 shares of Lucky Strike Entertainment stock in a transaction on Friday, February 6th. The stock was purchased at an average price of $6.50 per share, for a total transaction of $39,000.00. Following the purchase, the director directly owned 85,518 shares of the company's stock, valued at $555,867. This trade represents a 7.55% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Lev Ekster sold 3,000 shares of the firm's stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $8.47, for a total value of $25,410.00. Following the sale, the insider directly owned 64,296 shares of the company's stock, valued at approximately $544,587.12. This represents a 4.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 84.20% of the company's stock.

Institutional Trading of Lucky Strike Entertainment

A number of large investors have recently added to or reduced their stakes in LUCK. State of Wyoming bought a new stake in Lucky Strike Entertainment in the fourth quarter worth about $74,000. Bank of America Corp DE bought a new position in shares of Lucky Strike Entertainment during the 2nd quarter valued at approximately $94,000. Jain Global LLC purchased a new stake in shares of Lucky Strike Entertainment during the 3rd quarter worth approximately $121,000. R Squared Ltd purchased a new stake in shares of Lucky Strike Entertainment during the 3rd quarter worth approximately $123,000. Finally, Invesco Ltd. bought a new stake in shares of Lucky Strike Entertainment in the 2nd quarter worth approximately $114,000. Hedge funds and other institutional investors own 68.11% of the company's stock.

Lucky Strike Entertainment Trading Down 6.4%

The business's fifty day moving average is $8.32 and its 200 day moving average is $8.43. The company has a market cap of $1.13 billion, a P/E ratio of -12.62 and a beta of 0.69.

Lucky Strike Entertainment (NYSE:LUCK - Get Free Report) last announced its quarterly earnings data on Wednesday, February 4th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.14). The business had revenue of $306.86 million during the quarter, compared to analyst estimates of $313.83 million. As a group, research analysts expect that Lucky Strike Entertainment will post 0.01 EPS for the current fiscal year.

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. Shannon in 1997 and is headquartered in Mechanicsville, VA.

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