Lucky Strike Entertainment (NYSE:LUCK) Trading Up 4.4% - Time to Buy?

Key Points

• Lucky Strike Entertainment shares rose 4.4% on Monday to about $7.62, though trading volume was far below normal at just 7,546 shares versus an average of 150,810.
• Analyst sentiment is mixed but cautious: the stock carries an average Hold rating and a consensus price target of $8.69, with recent ratings ranging from underweight to market perform.
• The company recently missed earnings expectations, reporting $0.10 EPS versus $0.17 expected and revenue of $342.23 million versus $353.77 million projected, even as it continues to pay a quarterly dividend yielding about 3.2%.

Lucky Strike Entertainment (NYSE:LUCK - Get Free Report) shares rose 4.4% on Monday . The stock traded as high as $7.66 and last traded at $7.6240. 7,546 shares were traded during trading, a decline of 95% from the average session volume of 150,810 shares. The stock had previously closed at $7.30.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Wall Street Zen raised shares of Lucky Strike Entertainment from a "strong sell" rating to a "sell" rating in a research report on Saturday, June 20th. Stifel Nicolaus set a $9.00 target price on shares of Lucky Strike Entertainment in a research report on Thursday, May 7th. JPMorgan Chase & Co. lowered shares of Lucky Strike Entertainment from a "neutral" rating to an "underweight" rating and decreased their price target for the stock from $8.00 to $6.00 in a research note on Thursday, April 23rd. Jefferies Financial Group set a $12.00 price target on shares of Lucky Strike Entertainment in a report on Wednesday, May 6th. Finally, Citigroup started coverage on shares of Lucky Strike Entertainment in a report on Monday, June 29th. They issued a "market perform" rating on the stock. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Lucky Strike Entertainment has an average rating of "Hold" and a consensus target price of $8.69.

Lucky Strike Entertainment Stock Performance

The stock has a 50 day moving average of $8.03 and a 200-day moving average of $8.22. The firm has a market capitalization of $1.03 billion, a P/E ratio of -12.16 and a beta of 0.61.

Lucky Strike Entertainment (NYSE:LUCK - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.07). The business had revenue of $342.23 million for the quarter, compared to analyst estimates of $353.77 million. As a group, sell-side analysts expect that Lucky Strike Entertainment will post -0.2 EPS for the current year.

Lucky Strike Entertainment Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Friday, May 22nd. Lucky Strike Entertainment's dividend payout ratio is presently -38.71%.

Insider Buying and Selling

In related news, insider Lev Ekster sold 3,000 shares of Lucky Strike Entertainment stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 64,296 shares in the company, valued at approximately $544,587.12. The trade was a 4.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 84.20% of the company's stock.

Institutional Investors Weigh In On Lucky Strike Entertainment

Several institutional investors have recently made changes to their positions in the stock. State of Wyoming bought a new position in shares of Lucky Strike Entertainment in the fourth quarter worth $74,000. Bank of America Corp DE purchased a new position in shares of Lucky Strike Entertainment in the second quarter valued at $94,000. Jain Global LLC bought a new stake in shares of Lucky Strike Entertainment during the 3rd quarter valued at $121,000. Invesco Ltd. bought a new stake in shares of Lucky Strike Entertainment during the 2nd quarter valued at $114,000. Finally, XTX Topco Ltd purchased a new stake in Lucky Strike Entertainment during the 2nd quarter worth about $123,000. Hedge funds and other institutional investors own 68.11% of the company's stock.

Lucky Strike Entertainment Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.