Lucky Strike Entertainment (NYSE:LUCK) Raised to “Hold” at Zacks Research

Lucky Strike Entertainment (NYSE:LUCK) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Monday, Zacks reports.

Other equities analysts also recently issued reports about the stock. Citizens Jmp began coverage on shares of Lucky Strike Entertainment in a research note on Monday, June 29th. They issued a “market perform” rating for the company. Stifel Nicolaus lowered their target price on shares of Lucky Strike Entertainment from $9.00 to $8.00 and set a “buy” rating for the company in a report on Friday, August 28th. Jefferies Financial Group set a $10.00 price target on shares of Lucky Strike Entertainment in a research report on Thursday, August 27th. Roth Capital set a $6.50 price target on shares of Lucky Strike Entertainment in a research report on Friday, August 28th. Finally, Truist Financial cut their price target on shares of Lucky Strike Entertainment from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Friday. Four research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $8.17.

Lucky Strike Entertainment Stock Up 6.7%

Shares of NYSE:LUCK opened at $4.37 on Monday. The business’s 50 day moving average is $5.54 and its 200 day moving average is $7.35. Lucky Strike Entertainment has a 12-month low of $3.76 and a 12-month high of $9.59.

Lucky Strike Entertainment (NYSE:LUCK) last released its quarterly 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 company had revenue of $303.95 million during the quarter, compared to analyst estimates of $311.30 million. Analysts forecast that Lucky Strike Entertainment will post -0.02 EPS for the current fiscal year.

Insider Activity

In related news, CEO Thomas F. Shannon acquired 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 9th. The stock was acquired at an average price of $5.86 per share, for a total transaction of $175,800.00. Following the completion of the acquisition, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sandeep Mathrani acquired 9,350 shares of the stock in a transaction on Friday, August 28th. The stock was bought at an average cost of $6.41 per share, for a total transaction of $59,933.50. Following the transaction, the director owned 9,350 shares of the company’s stock, valued at approximately $59,933.50. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have purchased 43,537 shares of company stock valued at $261,064. 84.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LUCK. Rice Hall James & Associates LLC increased its stake 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 in the second quarter valued at approximately $1,361,000. Finally, Squarepoint Ops LLC lifted its stake 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. 68.11% of the stock is currently owned by hedge funds and other institutional investors.

About Lucky Strike Entertainment

Lucky Strike Entertainment Corp. is an operator of location-based entertainment venues centered on bowling. The company provides recreational and social experiences through bowling lanes, arcade games, food and beverage offerings, and spaces for parties, corporate events and other group gatherings.

The company operates venues under brands that include Lucky Strike, Bowlero and AMF, serving customers across the United States and Canada. Its locations range from upscale entertainment venues to traditional bowling centers, with offerings designed for families, casual visitors, league bowlers and private-event guests.

Lucky Strike Entertainment was previously known as Bowlero Corp.