Lucky Strike Entertainment (NYSE:LUCK) Upgraded by Zacks Research to "Hold" Rating

Key Points

• Lucky Strike Entertainment received an upgrade from Zacks Research, moving from a "strong sell" rating to a "hold" rating, indicating a more favorable outlook.
• The company's stock saw a 4.8% increase recently, with shares opening at $10.06, while the market capitalization stands at $1.41 billion.
• Insider trading activity includes President Lev Ekster purchasing 2,505 shares at approximately $9.99 each, increasing his holdings in the company.

Zacks Research upgraded shares of Lucky Strike Entertainment (NYSE:LUCK - Free Report) from a strong sell rating to a hold rating in a research report sent to investors on Wednesday, September 10th,Zacks.com reports.

A number of other equities research analysts have also recently weighed in on LUCK. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $16.00 price objective on shares of Lucky Strike Entertainment in a research note on Friday, August 29th. Roth Capital reaffirmed a "neutral" rating and issued a $11.00 target price on shares of Lucky Strike Entertainment in a research report on Friday, August 29th. Finally, Stifel Nicolaus increased their price target on shares of Lucky Strike Entertainment from $12.00 to $13.00 and gave the stock a "buy" rating in a research report on Friday, August 29th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $12.20.

Lucky Strike Entertainment Stock Down 0.1%

Shares of LUCK traded down $0.01 during trading on Wednesday, reaching $9.81. 38,075 shares of the company traded hands, compared to its average volume of 341,425. The stock has a 50-day simple moving average of $10.14 and a 200-day simple moving average of $9.57. The stock has a market cap of $1.38 billion, a PE ratio of -75.46 and a beta of 0.76. Lucky Strike Entertainment has a twelve month low of $7.66 and a twelve month high of $13.25.

Lucky Strike Entertainment (NYSE:LUCK - Get Free Report) last posted its quarterly earnings data on Thursday, August 28th. The company reported ($0.49) earnings per share for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.42). Lucky Strike Entertainment had a negative return on equity of 23.31% and a negative net margin of 0.83%.The company had revenue of $301.18 million for the quarter, compared to analysts' expectations of $295.07 million. Lucky Strike Entertainment has set its FY 2025 guidance at EPS. On average, equities research analysts predict that Lucky Strike Entertainment will post 0.43 EPS for the current year.

Lucky Strike Entertainment Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 29th were issued a $0.055 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.22 annualized dividend and a yield of 2.2%. Lucky Strike Entertainment's dividend payout ratio (DPR) is -169.23%.

Insider Buying and Selling

In other news, President Lev Ekster acquired 2,505 shares of the company's stock in a transaction on Friday, September 5th. The shares were bought at an average cost of $9.99 per share, with a total value of $25,024.95. Following the transaction, the president owned 71,800 shares in the company, valued at approximately $717,282. This trade represents a 3.61% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders have purchased 5,179 shares of company stock worth $51,627. Insiders own 79.90% of the company's stock.

Hedge Funds Weigh In On Lucky Strike Entertainment

Institutional investors and hedge funds have recently modified their holdings of the company. Farther Finance Advisors LLC acquired a new position in shares of Lucky Strike Entertainment during the 2nd quarter worth about $30,000. Spire Wealth Management acquired a new position in Lucky Strike Entertainment in the second quarter valued at approximately $42,000. PNC Financial Services Group Inc. purchased a new position in Lucky Strike Entertainment in the second quarter valued at approximately $50,000. Bank of America Corp DE acquired a new stake in Lucky Strike Entertainment during the second quarter worth approximately $94,000. Finally, Invesco Ltd. purchased a new stake in shares of Lucky Strike Entertainment during the 2nd quarter worth approximately $114,000. Institutional investors and hedge funds 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.