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 $4.86, falling below both their 50-day and 200-day moving averages. The stock has a market capitalization of approximately $655 million.
• The company’s latest quarterly results missed expectations, with an adjusted loss of $0.20 per share versus the projected $0.05 loss and revenue of $303.95 million versus the $311.30 million estimate.
• Analysts maintain a consensus “Hold” rating with an average price target of $8.39, while the company continues paying a $0.06 quarterly dividend yielding about 5%. Insiders have recently purchased shares, including 30,000 shares bought by the CEO.

Shares of Lucky Strike Entertainment (NYSE:LUCK - Get Free Report) reached a new 52-week low on Friday. The company traded as low as $4.86 and last traded at $4.87, with a volume of 30,020 shares changing hands. The stock had previously closed at $5.09.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings reissued a "sell (d)" rating on shares of Lucky Strike Entertainment in a report on Friday, July 31st. Citigroup assumed coverage on shares of Lucky Strike Entertainment in a research report on Monday, June 29th. They issued a "market perform" rating for the company. Truist Financial set a $10.00 price objective on shares of Lucky Strike Entertainment in a research note on Thursday, August 27th. Citizens Jmp assumed coverage on shares of Lucky Strike Entertainment in a research note on Monday, June 29th. They set a "market perform" rating for the company. Finally, Roth Capital set a $6.50 target price on shares of Lucky Strike Entertainment in a report on Friday, August 28th. Four equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $8.39.

Lucky Strike Entertainment Stock Performance

The firm has a market cap of $655.07 million, a PE ratio of -14.13 and a beta of 0.66. The stock's 50 day simple moving average is $5.88 and its 200 day simple moving average is $7.18.

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

Lucky Strike Entertainment Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 22nd. Investors of record on Tuesday, September 8th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date was Tuesday, September 8th. Lucky Strike Entertainment's dividend payout ratio is currently -70.59%.

Insider Buying and Selling at Lucky Strike Entertainment

In other news, Director Sandeep Mathrani purchased 9,350 shares of the business's stock in a transaction on Friday, August 28th. The shares were acquired at an average price of $6.41 per share, with a total value of $59,933.50. Following the acquisition, the director directly owned 9,350 shares in the company, valued at approximately $59,933.50. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Thomas Shannon purchased 30,000 shares of the business's stock in a transaction on 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 approximately $18,423,840. The trade was a 0.96% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 43,537 shares of company stock valued at $261,064 in the last three months. 84.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Lucky Strike Entertainment

Several institutional investors and hedge funds have recently bought and sold shares of LUCK. Rice Hall James & Associates LLC increased its position in shares of Lucky Strike Entertainment by 52.7% during the first quarter. Rice Hall James & Associates LLC now owns 481,189 shares of the company's stock valued at $4,003,000 after buying an additional 166,104 shares during the period. Great Lakes Advisors LLC purchased a new position in shares of Lucky Strike Entertainment in the 2nd quarter worth about $1,361,000. Finally, Squarepoint Ops LLC raised its holdings in Lucky Strike Entertainment by 69.8% in the second quarter. Squarepoint Ops LLC now owns 22,158 shares of the company's stock worth $166,000 after buying an additional 9,112 shares during the last quarter. Hedge funds and other institutional investors own 68.11% of the company's stock.

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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