Lucky Strike Entertainment (NYSE:LUCK) Shares Up 5.8% – Here’s Why

by · The Markets Daily

Lucky Strike Entertainment (NYSE:LUCK – Get Free Report)’s stock price rose 5.8% during trading on Monday. The company traded as high as $5.51 and last traded at $5.51. Approximately 35,682 shares traded hands 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.

Analyst Ratings Changes

LUCK has been the topic of several recent analyst reports. Stifel Nicolaus dropped their target price on Lucky Strike Entertainment from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, August 28th. Weiss Ratings restated a “sell (d)” rating on shares of Lucky Strike Entertainment in a research note on Friday, July 31st. Roth Capital set a $6.50 price objective on shares of Lucky Strike Entertainment in a report on Friday, August 28th. Wall Street Zen raised shares of Lucky Strike Entertainment from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 20th. Finally, Citizens Jmp initiated coverage on Lucky Strike Entertainment in a report on Monday, June 29th. They set a “market perform” rating on the stock. Four equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, Lucky Strike Entertainment currently has a consensus rating of “Hold” and an average target price of $8.39.

View Our Latest Analysis on LUCK

Lucky Strike Entertainment Price Performance

The company has a 50 day moving average price of $6.29 and a 200 day moving average price of $7.41. The firm has a market cap of $742.17 million, a PE ratio of -16.01 and a beta of 0.62.

Lucky Strike Entertainment (NYSE:LUCK – Get Free Report) last announced its quarterly earnings data on Thursday, August 27th. The company reported ($0.20) EPS 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 the consensus estimate of $311.30 million. On average, equities analysts anticipate that Lucky Strike Entertainment will post -0.02 earnings per share for the current fiscal year.

Lucky Strike Entertainment Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 22nd. Shareholders of record on Tuesday, September 8th were given a dividend of $0.06 per share. The ex-dividend date was Tuesday, September 8th. This represents a $0.24 annualized dividend and a yield of 4.4%. Lucky Strike Entertainment’s payout ratio is presently -70.59%.

Insider Activity at Lucky Strike Entertainment

In related news, CEO Thomas F. Shannon bought 30,000 shares of the firm’s stock in a transaction on Wednesday, September 9th. The shares were bought at an average cost 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 trade represents a 0.96% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Sandeep Mathrani purchased 9,350 shares of the business’s stock in a transaction dated Friday, August 28th. The stock was bought at an average price of $6.41 per share, with a total value of $59,933.50. Following the acquisition, the director directly owned 9,350 shares in the company, valued at approximately $59,933.50. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 43,537 shares of company stock valued at $261,064 over the last three months. Insiders own 84.20% of the company’s stock.

Hedge Funds Weigh In On Lucky Strike Entertainment

Hedge funds have recently bought and sold shares of the company. Squarepoint Ops LLC grew its holdings in Lucky Strike Entertainment by 69.8% in the second 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 last quarter. MYDA Advisors LLC acquired a new stake in shares of Lucky Strike Entertainment in the fourth quarter valued at approximately $424,000. Maven Securities LTD purchased a new stake in Lucky Strike Entertainment in the 4th quarter valued at approximately $1,036,000. Great Lakes Advisors LLC acquired a new stake in Lucky Strike Entertainment during the 2nd quarter valued at $1,361,000. Finally, Rice Hall James & Associates LLC raised its holdings in shares of Lucky Strike Entertainment by 38.5% in the fourth quarter. Rice Hall James & Associates LLC now owns 315,085 shares of the company’s stock worth $2,669,000 after acquiring an additional 87,656 shares during the last quarter. 68.11% of the stock is owned by hedge funds and other institutional investors.

About Lucky Strike Entertainment

(Get Free Report)

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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