Lucky Strike Entertainment (NYSE:LUCK) Reaches New 12-Month Low - Here's What Happened

Key Points

• Lucky Strike Entertainment shares fell to a new 52-week low of $4.59, well below their 50-day and 200-day moving averages of $5.73 and $7.08, respectively.
• The company’s latest quarterly results missed expectations, with a loss of $0.20 per share versus the estimated $0.05 loss and revenue of $303.95 million versus the $311.30 million forecast.
• Analysts maintain a consensus “Hold” rating with an $8.39 price target, while insiders purchased 43,537 shares in the latest quarter; the company also offers a $0.24 annualized dividend yielding about 5.3%.

Lucky Strike Entertainment (NYSE:LUCK - Get Free Report)'s share price reached a new 52-week low during trading on Thursday. The company traded as low as $4.59 and last traded at $4.6750, with a volume of 10,280 shares. The stock had previously closed at $4.69.

Analyst Upgrades and Downgrades

LUCK has been the subject of a number of recent analyst reports. Weiss Ratings reissued a "sell (d)" rating on shares of Lucky Strike Entertainment in a research report on Friday, July 31st. Stifel Nicolaus lowered their target price on shares of Lucky Strike Entertainment from $9.00 to $8.00 and set a "buy" rating for the company in a research note on Friday, August 28th. Truist Financial set a $10.00 price target on shares of Lucky Strike Entertainment in a research report on Thursday, August 27th. Citigroup assumed coverage on Lucky Strike Entertainment in a report on Monday, June 29th. They set a "market perform" rating for the company. Finally, Roth Capital set a $6.50 price objective on Lucky Strike Entertainment in a research report on Friday, August 28th. Four equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $8.39.

Lucky Strike Entertainment Stock Performance

The firm has a market cap of $616.08 million, a P/E ratio of -13.29 and a beta of 0.66. The stock's 50 day simple moving average is $5.73 and its 200 day simple moving average is $7.08.

Lucky Strike Entertainment (NYSE:LUCK - Get Free Report) last announced 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 company had revenue of $303.95 million during the quarter, compared to analyst estimates of $311.30 million. As a group, analysts forecast that Lucky Strike Entertainment will post -0.02 EPS for the current fiscal year.

Lucky Strike Entertainment Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 22nd. Stockholders of record on Tuesday, September 8th were paid a $0.06 dividend. The ex-dividend date was Tuesday, September 8th. This represents a $0.24 annualized dividend and a dividend yield of 5.3%. Lucky Strike Entertainment's dividend payout ratio is presently -70.59%.

Insider Activity

In other news, Director Sandeep Mathrani purchased 9,350 shares of the company's stock in a transaction that occurred on Friday, August 28th. The shares were bought at an average cost of $6.41 per share, with a total value of $59,933.50. Following the completion of the transaction, the director directly 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Thomas Shannon purchased 30,000 shares of the business's stock in a transaction that occurred on Wednesday, September 9th. The shares were purchased at an average price of $5.86 per share, for a total transaction of $175,800.00. Following the completion of the acquisition, the chief executive officer owned 3,144,000 shares of the company's stock, valued at $18,423,840. The trade was a 0.96% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders bought 43,537 shares of company stock valued at $261,064. 84.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Lucky Strike Entertainment

A number of institutional investors and hedge funds have recently modified their holdings of the business. Squarepoint Ops LLC grew its stake in Lucky Strike Entertainment by 69.8% in the 2nd quarter. Squarepoint Ops LLC now owns 22,158 shares of the company's stock valued at $166,000 after purchasing an additional 9,112 shares during the period. Great Lakes Advisors LLC bought a new stake in shares of Lucky Strike Entertainment during the 2nd quarter worth $1,361,000. Finally, Rice Hall James & Associates LLC raised its stake in shares of Lucky Strike Entertainment by 52.7% during the 1st quarter. Rice Hall James & Associates LLC now owns 481,189 shares of the company's stock worth $4,003,000 after purchasing an additional 166,104 shares during the period. 68.11% of the stock is owned by hedge funds and other institutional investors.

Lucky Strike Entertainment Company Profile

Lucky Strike Entertainment Corp. is an operator of location-based entertainment venues centered on bowling. The company provides recreational and social experiences through bowling lanes, arcade games, food and beverage offerings, and spaces for parties, corporate events and other group gatherings.

The company operates venues under brands that include Lucky Strike, Bowlero and AMF, serving customers across the United States and Canada. Its locations range from upscale entertainment venues to traditional bowling centers, with offerings designed for families, casual visitors, league bowlers and private-event guests.

Lucky Strike Entertainment was previously known as Bowlero Corp.

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