Lucky Strike Entertainment (NYSE:LUCK) Upgraded by Zacks Research to "Strong Sell" Rating

Key Points

• Zacks Research has upgraded Lucky Strike Entertainment (NYSE:LUCK) to a "strong sell" rating, reflecting analysts' concerns about its future performance.
• Several research firms have recently adjusted their price targets for LUCK, with Stifel Nicolaus setting a target of $12.00, and JPMorgan reducing their target to $10.00.
• Insider activity has been notable, with CEO Thomas F. Shannon acquiring 20,000 shares at an average price of $8.73, increasing his ownership stake in the company.

Zacks Research upgraded shares of Lucky Strike Entertainment (NYSE:LUCK - Free Report) to a strong sell rating in a report issued on Tuesday, August 12th,Zacks.com reports.

A number of other equities research analysts also recently commented on the company. Truist Financial cut their price objective on Lucky Strike Entertainment from $14.00 to $11.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Stifel Nicolaus reduced their target price on Lucky Strike Entertainment from $13.00 to $12.00 and set a "buy" rating for the company in a report on Friday, June 20th. Roth Capital downgraded Lucky Strike Entertainment from a "buy" rating to a "neutral" rating and set a $9.00 target price for the company. in a report on Monday, May 12th. JPMorgan Chase & Co. reduced their target price on Lucky Strike Entertainment from $12.00 to $10.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and set a $16.00 target price (down from $18.00) on shares of Lucky Strike Entertainment in a report on Monday, May 5th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Lucky Strike Entertainment has a consensus rating of "Hold" and a consensus price target of $11.60.

Lucky Strike Entertainment Stock Down 2.0%

NYSE LUCK traded down $0.21 on Tuesday, reaching $10.21. 112,554 shares of the stock traded hands, compared to its average volume of 358,426. The firm's fifty day simple moving average is $9.79 and its 200 day simple moving average is $9.71. The company has a market cap of $1.43 billion, a price-to-earnings ratio of -145.84 and a beta of 0.75. Lucky Strike Entertainment has a 12 month low of $7.66 and a 12 month high of $13.25.

Insider Buying and Selling at Lucky Strike Entertainment

In other news, CEO Thomas F. Shannon purchased 20,000 shares of the business's stock in a transaction dated Wednesday, May 28th. The stock was bought at an average cost of $8.73 per share, with a total value of $174,600.00. Following the purchase, the chief executive officer directly owned 2,364,000 shares of the company's stock, valued at approximately $20,637,720. This trade represents a 0.85% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders bought 22,350 shares of company stock worth $194,778. 79.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Lucky Strike Entertainment

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Farther Finance Advisors LLC purchased a new stake in shares of Lucky Strike Entertainment during the 2nd quarter worth about $30,000. Spire Wealth Management purchased a new stake in shares of Lucky Strike Entertainment during the 2nd quarter worth about $42,000. PNC Financial Services Group Inc. purchased a new stake in shares of Lucky Strike Entertainment during the 2nd quarter worth about $50,000. Bank of America Corp DE bought a new position in Lucky Strike Entertainment during the second quarter valued at about $94,000. Finally, Invesco Ltd. bought a new position in Lucky Strike Entertainment during the second quarter valued at about $114,000. 68.11% of the stock is owned by hedge funds and other institutional investors.

About Lucky Strike Entertainment

Lucky Strike Entertainment Corp. engages in operating bowling centers. It offers entertainment concepts with lounge seating, arcades, food and beverage offerings, and hosting and overseeing professional and non-professional bowling tournaments and related broadcasting. The company was founded by Thomas F.