Lucky Strike Entertainment (NYSE:LUCK) Shares Gap Up Following Insider Buying Activity

Lucky Strike Entertainment (NYSE:LUCK)’s share price gapped up prior to trading on Wednesday after an insider bought additional shares in the company. The stock had previously closed at $8.16, but opened at $8.60. Lucky Strike Entertainment shares last traded at $8.46, with a volume of 118,757 shares changing hands.

Specifically, Director Richard Meynard Born purchased 30,000 shares of the business’s stock in a transaction on Friday, November 28th. The shares were bought at an average price of $8.09 per share, with a total value of $242,700.00. Following the completion of the purchase, the director directly owned 30,000 shares in the company, valued at approximately $242,700. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

Analyst Ratings Changes

Several analysts have recently issued reports on LUCK shares. Piper Sandler lowered their price objective on shares of Lucky Strike Entertainment from $10.00 to $9.00 and set a “neutral” rating for the company in a research note on Monday, November 10th. Wall Street Zen upgraded Lucky Strike Entertainment from a “sell” rating to a “hold” rating in a report on Sunday, November 16th. Zacks Research upgraded Lucky Strike Entertainment from a “strong sell” rating to a “hold” rating in a research note on Wednesday, September 10th. Stifel Nicolaus lifted their price objective on Lucky Strike Entertainment from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, August 29th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $16.00 target price on shares of Lucky Strike Entertainment in a report on Friday, August 29th. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $11.67.

Lucky Strike Entertainment Stock Performance

The firm has a fifty day moving average of $8.69 and a 200-day moving average of $9.37. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of -22.26 and a beta of 0.72.

Lucky Strike Entertainment (NYSE:LUCK) last issued its quarterly earnings data on Wednesday, May 17th. The company reported $0.27 EPS for the quarter. Lucky Strike Entertainment had a negative return on equity of 23.31% and a negative net margin of 3.80%.The company had revenue of $257.82 million for the quarter. On average, analysts predict that Lucky Strike Entertainment will post 0.43 EPS for the current year.

Hedge Funds Weigh In On Lucky Strike Entertainment

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Farther Finance Advisors LLC acquired a new stake in Lucky Strike Entertainment in the second quarter valued at approximately $30,000. Spire Wealth Management purchased a new position in shares of Lucky Strike Entertainment in the second quarter valued at $42,000. PNC Financial Services Group Inc. acquired a new stake in Lucky Strike Entertainment during the 2nd quarter valued at $50,000. GatePass Capital LLC acquired a new stake in Lucky Strike Entertainment during the 2nd quarter valued at $91,000. Finally, Bank of America Corp DE purchased a new stake in Lucky Strike Entertainment during the 2nd quarter worth $94,000. Hedge funds and other institutional investors own 68.11% of the company’s stock.

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.