Lucky Strike Entertainment (NYSE:LUCK) Stock Price Up 6.8% - Here's Why

Lucky Strike Entertainment (NYSE:LUCK - Get Free Report)'s stock price rose 6.8% on Wednesday . The company traded as high as $9.70 and last traded at $9.69. Approximately 77,238 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 399,197 shares. The stock had previously closed at $9.07.

Analysts Set New Price Targets

Several research firms have recently weighed in on LUCK. JPMorgan Chase & Co. dropped their price objective on shares of Lucky Strike Entertainment from $12.00 to $10.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Canaccord Genuity Group reissued a "buy" rating and set a $16.00 price objective (down previously from $18.00) on shares of Lucky Strike Entertainment in a report on Monday, May 5th. Truist Financial dropped their target price on shares of Lucky Strike Entertainment from $14.00 to $11.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Finally, 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, May 12th.

Lucky Strike Entertainment Stock Performance

The stock has a market cap of $1.39 billion, a price-to-earnings ratio of -141.41 and a beta of 0.73. The business's fifty day moving average price is $8.99.

Lucky Strike Entertainment (NYSE:LUCK - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.16). The business had revenue of $339.88 million for the quarter, compared to analyst estimates of $361.42 million. Lucky Strike Entertainment had a negative return on equity of 23.31% and a net margin of 0.21%. On average, equities analysts predict that Lucky Strike Entertainment will post 0.43 EPS for the current fiscal year.

Lucky Strike Entertainment Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 23rd were issued a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend was Friday, May 23rd. Lucky Strike Entertainment's dividend payout ratio (DPR) is currently -314.29%.

Insiders Place Their Bets

In related news, CEO Thomas F. Shannon acquired 20,000 shares of the stock in a transaction dated Wednesday, May 28th. The stock was bought at an average price of $8.73 per share, with a total value of $174,600.00. Following the completion of the transaction, the chief executive officer now directly owns 2,364,000 shares of the company's stock, valued at approximately $20,637,720. The trade was a 0.85% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Robert M. Lavan bought 4,000 shares of the stock in a transaction on Friday, May 9th. The shares were purchased at an average price of $8.30 per share, with a total value of $33,200.00. Following the acquisition, the chief financial officer now owns 84,238 shares in the company, valued at approximately $699,175.40. This represents a 4.99% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 73,384 shares of company stock worth $626,098. Company insiders own 79.90% 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.