Lucky Strike Entertainment (NYSE:LUCK) Hits New 52-Week Low - Here's Why

Key Points

• Lucky Strike Entertainment shares hit a new 52-week low of $5.10, trading 2.6% lower, with the stock below both its 50-day and 200-day moving averages.
• Analyst sentiment is mixed but leans toward caution: the consensus rating is “Hold” with an average price target of $8.39, while Zacks downgraded the stock to “strong sell” and Weiss Ratings maintained a sell rating.
• The company missed quarterly expectations, reporting a loss of $0.20 per share versus the expected $0.05 loss and revenue of $303.95 million versus $311.30 million expected; meanwhile, insiders bought 43,537 shares during the quarter and the company continues to pay a $0.06 quarterly dividend.

Lucky Strike Entertainment (NYSE:LUCK - Get Free Report) reached a new 52-week low during mid-day trading on Thursday. The stock traded as low as $5.10 and last traded at $5.1310, with a volume of 5509 shares traded. The stock had previously closed at $5.17.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Jefferies Financial Group set a $10.00 price objective on shares of Lucky Strike Entertainment in a report on Thursday, August 27th. Zacks Research downgraded Lucky Strike Entertainment from a "hold" rating to a "strong sell" rating in a research report on Monday, August 31st. Roth Capital set a $6.50 price target on Lucky Strike Entertainment in a research note on Friday, August 28th. Truist Financial set a $10.00 price target on Lucky Strike Entertainment in a report on Thursday, August 27th. Finally, Weiss Ratings reissued a "sell (d)" rating on shares of Lucky Strike Entertainment in a report on Friday, July 31st. Four analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Lucky Strike Entertainment has an average rating of "Hold" and an average price target of $8.39.

Lucky Strike Entertainment Trading Down 2.6%

The business's fifty day moving average price is $6.08 and its 200 day moving average price is $7.30. The company has a market capitalization of $686.83 million, a P/E ratio of -14.80 and a beta of 0.66.

Lucky Strike Entertainment (NYSE:LUCK - Get Free Report) last posted its earnings results on Thursday, August 27th. The company reported ($0.20) earnings per share for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.15). The company had revenue of $303.95 million for the quarter, compared to analyst estimates of $311.30 million. Equities research analysts anticipate that Lucky Strike Entertainment will post -0.02 EPS for the current year.

Lucky Strike Entertainment Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 22nd. Stockholders of record on Tuesday, September 8th were issued a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, September 8th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 4.8%. Lucky Strike Entertainment's dividend payout ratio is presently -70.59%.

Insiders Place Their Bets

In other news, Director Sandeep Mathrani bought 9,350 shares of Lucky Strike Entertainment stock in a transaction dated Friday, August 28th. The shares were bought at an average price of $6.41 per share, for a total transaction of $59,933.50. Following the purchase, the director owned 9,350 shares of the company's stock, valued at approximately $59,933.50. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Thomas F. Shannon bought 30,000 shares of the stock in a transaction dated Wednesday, September 9th. The stock was purchased at an average cost of $5.86 per share, for a total transaction of $175,800.00. Following the acquisition, the chief executive officer owned 3,144,000 shares in the company, valued at $18,423,840. The trade was a 0.96% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired 43,537 shares of company stock worth $261,064 over the last quarter. Company insiders own 84.20% of the company's stock.

Hedge Funds Weigh In On Lucky Strike Entertainment

Institutional investors have recently added to or reduced their stakes in the company. Squarepoint Ops LLC boosted its position in Lucky Strike Entertainment by 69.8% in the second quarter. Squarepoint Ops LLC now owns 22,158 shares of the company's stock valued at $166,000 after buying an additional 9,112 shares in the last quarter. MYDA Advisors LLC acquired a new stake in shares of Lucky Strike Entertainment during the fourth quarter worth approximately $424,000. Maven Securities LTD acquired a new stake in shares of Lucky Strike Entertainment during the fourth quarter worth approximately $1,036,000. Great Lakes Advisors LLC acquired a new stake in shares of Lucky Strike Entertainment during the second quarter worth approximately $1,361,000. Finally, Rice Hall James & Associates LLC raised its stake in shares of Lucky Strike Entertainment by 38.5% in the fourth quarter. Rice Hall James & Associates LLC now owns 315,085 shares of the company's stock valued at $2,669,000 after acquiring an additional 87,656 shares during the last quarter. 68.11% of the stock is owned by institutional investors.

Lucky Strike Entertainment Company Profile

Lucky Strike Entertainment Corporation NYSE: LUCK is an operator of bowling and location-based entertainment venues. Its centers offer traditional and boutique bowling, arcade games, billiards, laser tag, and other recreational activities, along with food and beverage services.

The company operates venues under brands that include Lucky Strike, Bowlero and AMF. Its facilities serve a range of customers, including families, casual entertainment seekers, league bowlers, and corporate or private-event groups.

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