Lucky Strike Entertainment (NYSE:LUCK) Stock Price Up 6.8% - Still a Buy?

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

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Truist Financial reduced 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 report on Monday, April 14th. Canaccord Genuity Group reiterated a "buy" rating and issued a $16.00 price objective (down previously from $18.00) on shares of Lucky Strike Entertainment in a report on Monday, May 5th. Roth Capital lowered shares of Lucky Strike Entertainment from a "buy" rating to a "neutral" rating and set a $9.00 target price on the stock. in a research note on Monday, May 12th. JPMorgan Chase & Co. dropped their price target on Lucky Strike Entertainment from $12.00 to $10.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Finally, Stifel Nicolaus cut their price target on Lucky Strike Entertainment from $13.00 to $12.00 and set a "buy" rating for the company in a report on Friday. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $11.60.

Lucky Strike Entertainment Trading Down 2.9%

The firm's fifty day moving average price is $9.05. The stock has a market capitalization of $1.35 billion, a PE ratio of -137.69 and a beta of 0.73.

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

Lucky Strike Entertainment Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 23rd were issued a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend was Friday, May 23rd. Lucky Strike Entertainment's dividend payout ratio is presently -314.29%.

Insider Buying and Selling

In related news, CFO Robert M. Lavan acquired 4,000 shares of Lucky Strike Entertainment stock in a transaction that occurred on Friday, May 9th. The shares were purchased at an average cost of $8.30 per share, for a total transaction 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Thomas F. Shannon bought 44,000 shares of the firm's stock in a transaction on Friday, May 9th. The stock was bought at an average cost of $8.48 per share, for a total transaction of $373,120.00. Following the transaction, the chief executive officer now directly owns 2,344,000 shares of the company's stock, valued at $19,877,120. The trade was a 1.91% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 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.