Lucky Strike Entertainment (NYSE:LUCK) Reaches New 1-Year Low - What's Next?

Key Points

• Lucky Strike Entertainment shares hit a new 52-week low, falling to $5.30 and last trading near $5.38. The stock remains below its 50-day and 200-day moving averages of $6.70 and $7.65, respectively.
• Analysts have a consensus “Hold” rating and an average price target of $8.39, although recent targets range from $6.50 to $10.00. The company’s latest quarterly results missed expectations, with an adjusted loss of $0.20 per share and revenue of $303.95 million.
• Lucky Strike announced a quarterly dividend of $0.06 per share, implying a 4.5% annualized yield, while insiders bought 43,150 shares worth nearly $259,000 over the past 90 days.

Lucky Strike Entertainment (NYSE:LUCK - Get Free Report) hit a new 52-week low on Tuesday . The company traded as low as $5.30 and last traded at $5.3830, with a volume of 6353 shares traded. The stock had previously closed at $5.56.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Roth Capital set a $6.50 price objective on shares of Lucky Strike Entertainment in a research report on Friday, August 28th. Wall Street Zen upgraded Lucky Strike Entertainment from a "strong sell" rating to a "sell" rating in a research note on Saturday, June 20th. Citigroup began coverage on Lucky Strike Entertainment in a report on Monday, June 29th. They set a "market perform" rating on the stock. Truist Financial set a $10.00 price objective on shares of Lucky Strike Entertainment in a research report on Thursday, August 27th. Finally, Stifel Nicolaus decreased their target price on Lucky Strike Entertainment from $9.00 to $8.00 and set a "buy" rating on the stock in a research report on Friday, August 28th. Four investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Lucky Strike Entertainment has an average rating of "Hold" and a consensus target price of $8.39.

Lucky Strike Entertainment Trading Down 3.8%

The business's 50 day moving average is $6.70 and its 200 day moving average is $7.65. The stock has a market capitalization of $729.35 million, a PE ratio of -15.74 and a beta of 0.62.

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 for the quarter, missing the consensus estimate of ($0.05) by ($0.15). The firm 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 EPS for the current year.

Lucky Strike Entertainment Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 22nd. Stockholders of record on Tuesday, September 8th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 4.5%. Lucky Strike Entertainment's dividend payout ratio (DPR) is -70.59%.

Insider Buying and Selling at Lucky Strike Entertainment

In other news, CEO Thomas Shannon bought 30,000 shares of the firm's stock in a transaction on Wednesday, September 9th. The stock was acquired at an average cost of $5.86 per share, with a total value of $175,800.00. Following the transaction, the chief executive officer directly owned 3,144,000 shares in the company, valued at approximately $18,423,840. This trade represents a 0.96% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Sandeep Mathrani acquired 9,350 shares of the firm's stock in a transaction that occurred on Friday, August 28th. The stock was purchased at an average price of $6.41 per share, with a total value of $59,933.50. Following the completion of the acquisition, the director directly owned 9,350 shares of the company's stock, valued at $59,933.50. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 43,150 shares of company stock worth $258,948 over the last 90 days. 84.20% of the stock is currently owned by company insiders.

Institutional Trading of Lucky Strike Entertainment

Several hedge funds have recently modified their holdings of the company. Squarepoint Ops LLC lifted its position in Lucky Strike Entertainment by 69.8% during the second quarter. Squarepoint Ops LLC now owns 22,158 shares of the company's stock valued at $166,000 after acquiring an additional 9,112 shares during the last quarter. MYDA Advisors LLC acquired a new position in shares of Lucky Strike Entertainment in the fourth quarter valued at about $424,000. Maven Securities LTD acquired a new position in Lucky Strike Entertainment in the 4th quarter worth approximately $1,036,000. Great Lakes Advisors LLC acquired a new stake in shares of Lucky Strike Entertainment in the second quarter worth $1,361,000. Finally, Rice Hall James & Associates LLC raised its stake in shares of Lucky Strike Entertainment by 38.5% during the 4th quarter. Rice Hall James & Associates LLC now owns 315,085 shares of the company's stock valued at $2,669,000 after buying an additional 87,656 shares during the last quarter. 68.11% of the stock is owned by hedge funds and other institutional investors.

Lucky Strike Entertainment Company Profile

Lucky Strike Entertainment Inc NYSE: LUCK is an operator of location-based entertainment venues centered on bowling. Its centers combine bowling with arcade games, food and beverages, and social entertainment, serving individual customers, families, corporate groups, parties, and organized leagues.

The company operates venues under brands that include Lucky Strike, Bowlero, and AMF. Offerings may include traditional bowling, enhanced bowling experiences, billiards, arcade attractions, event spaces, and hospitality services.

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