Lucky Strike Entertainment (NYSE:LUCK) Stock Price Down 7.8% - Here's Why

Key Points

• Lucky Strike Entertainment shares fell 7.8% to about $4.69, with trading volume 68% below the average session level.
• Analysts’ consensus rating is “Hold”, with an average price target of $8.39; recommendations range from Stifel’s “Buy” to Zacks Research’s “Strong Sell.”
• 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 the $311.30 million estimate, though insiders bought 43,537 shares over the past 90 days.

Lucky Strike Entertainment (NYSE:LUCK - Get Free Report)'s share price fell 7.8% on Wednesday. The company traded as low as $4.77 and last traded at $4.6910. Approximately 40,859 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 126,232 shares. The stock had previously closed at $5.09.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on LUCK shares. Roth Capital set a $6.50 target price on shares of Lucky Strike Entertainment in a research note on Friday, August 28th. Citigroup initiated coverage on Lucky Strike Entertainment in a research note on Monday, June 29th. They issued a "market perform" rating for the company. Citizens Jmp assumed coverage on Lucky Strike Entertainment in a report on Monday, June 29th. They issued a "market perform" rating for the company. Stifel Nicolaus lowered their price target 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. Finally, Zacks Research lowered Lucky Strike Entertainment from a "hold" rating to a "strong sell" rating in a report on Monday, August 31st. Four investment 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. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $8.39.

Lucky Strike Entertainment Price Performance

The firm has a market capitalization of $641.42 million, a PE ratio of -13.72 and a beta of 0.66. The company's fifty day simple moving average is $5.77 and its 200-day simple moving average is $7.11.

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

Lucky Strike Entertainment Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 22nd. Shareholders of record on Tuesday, September 8th were issued a $0.06 dividend. The ex-dividend date was Tuesday, September 8th. This represents a $0.24 dividend on an annualized basis and a yield of 5.1%. Lucky Strike Entertainment's dividend payout ratio (DPR) is presently -70.59%.

Insider Buying and Selling at Lucky Strike Entertainment

In other Lucky Strike Entertainment news, CEO Thomas Shannon bought 30,000 shares of the stock in a transaction on Wednesday, September 9th. The shares were bought at an average price of $5.86 per share, with a total value of $175,800.00. Following the purchase, the chief executive officer directly owned 3,144,000 shares in the company, valued at $18,423,840. This trade represents a 0.96% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Sandeep Mathrani bought 9,350 shares of the company's stock in a transaction dated Friday, August 28th. The shares were acquired at an average cost of $6.41 per share, with a total value of $59,933.50. Following the acquisition, the director directly owned 9,350 shares of the company's stock, valued at approximately $59,933.50. This represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have acquired 43,537 shares of company stock worth $261,064. 84.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Lucky Strike Entertainment

Several large investors have recently bought and sold shares of the business. 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 purchasing an additional 166,104 shares during the last quarter. Great Lakes Advisors LLC purchased a new position in Lucky Strike Entertainment during the second quarter worth approximately $1,361,000. Finally, 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 worth $166,000 after buying an additional 9,112 shares in the last quarter. Hedge funds and other institutional investors own 68.11% of the company's stock.

About Lucky Strike Entertainment

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.