Lucky Strike Entertainment (NYSE:LUCK) Shares Climb 5.8% - What's Next?

Key Points

• Lucky Strike Entertainment shares rose 5.8% to $5.51, although trading volume was 73% below the average daily level.
• Analyst sentiment remains mixed, with an overall “Hold” rating and an average price target of $8.39; targets range from $6.50 to $10.00.
• The company missed quarterly expectations, reporting a $0.20-per-share loss versus the expected $0.05 loss and revenue of $303.95 million versus $311.30 million expected. Insiders bought shares recently, while the company maintains a 4.4% dividend yield.

Lucky Strike Entertainment (NYSE:LUCK - Get Free Report) shares traded up 5.8% during mid-day trading on Monday. The stock traded as high as $5.51 and last traded at $5.51. 35,682 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 131,720 shares. The stock had previously closed at $5.21.

Wall Street Analysts Forecast Growth

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

Lucky Strike Entertainment Price Performance

The firm has a 50-day simple moving average of $6.36 and a 200 day simple moving average of $7.46. The stock has a market capitalization of $738.77 million, a P/E ratio of -15.94 and a beta of 0.62.

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 business had revenue of $303.95 million for the quarter, compared to analysts' expectations of $311.30 million. Sell-side analysts anticipate that Lucky Strike Entertainment will post -0.02 earnings per share for the current fiscal year.

Lucky Strike Entertainment Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 22nd. Investors of record on Tuesday, September 8th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend was Tuesday, September 8th. Lucky Strike Entertainment's dividend payout ratio (DPR) is currently -70.59%.

Insider Transactions at Lucky Strike Entertainment

In related news, CEO Thomas Shannon purchased 30,000 shares of Lucky Strike Entertainment stock in a transaction 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 transaction, the chief executive officer owned 3,144,000 shares of the company's stock, valued at approximately $18,423,840. This represents a 0.96% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Sandeep Mathrani acquired 9,350 shares of the stock in a transaction dated Friday, August 28th. The shares were bought at an average price 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 $59,933.50. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 43,537 shares of company stock worth $261,064 in the last quarter. Corporate insiders own 84.20% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Private Management Group Inc. boosted its position in shares of Lucky Strike Entertainment by 2.6% during the 4th quarter. Private Management Group Inc. now owns 1,911,134 shares of the company's stock valued at $16,187,000 after purchasing an additional 48,093 shares in the last quarter. Rice Hall James & Associates LLC boosted its holdings 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 buying an additional 166,104 shares in the last quarter. Great Lakes Advisors LLC acquired a new stake in shares of Lucky Strike Entertainment during the 2nd quarter worth approximately $1,361,000. Maven Securities LTD bought a new stake in shares of Lucky Strike Entertainment in the 4th quarter valued at $1,036,000. Finally, MYDA Advisors LLC bought a new stake in shares of Lucky Strike Entertainment in the 4th quarter valued at $424,000. 68.11% of the stock is owned by institutional investors.

About Lucky Strike Entertainment

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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