Lucky Strike Entertainment (NYSE:LUCK) Trading 10.7% Higher – Still a Buy?

Lucky Strike Entertainment (NYSE:LUCK)’s stock price traded up 10.7% during mid-day trading on Monday . The stock traded as high as $8.47 and last traded at $8.4450. 21,233 shares were traded during mid-day trading, a decline of 86% from the average session volume of 148,659 shares. The stock had previously closed at $7.63.

Analysts Set New Price Targets

LUCK has been the topic of a number of research analyst reports. Stifel Nicolaus set a $9.00 target price on Lucky Strike Entertainment in a research report on Thursday, May 7th. Jefferies Financial Group set a $12.00 price target on Lucky Strike Entertainment in a research report on Wednesday, May 6th. JPMorgan Chase & Co. cut Lucky Strike Entertainment from a “neutral” rating to an “underweight” rating and dropped their price target for the company from $8.00 to $6.00 in a research report on Thursday, April 23rd. UBS Group cut Lucky Strike Entertainment to a “hold” rating and set a $6.50 price target for the company. in a research report on Thursday, May 7th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Lucky Strike Entertainment in a research report on Monday, May 4th. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Lucky Strike Entertainment has a consensus rating of “Hold” and an average target price of $8.69.

Lucky Strike Entertainment Trading Up 7.8%

The stock’s 50 day moving average price is $8.23 and its two-hundred day moving average price is $8.29. The firm has a market capitalization of $1.12 billion, a PE ratio of -13.19 and a beta of 0.60.

Lucky Strike Entertainment (NYSE:LUCK) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.07). The firm had revenue of $342.23 million during the quarter, compared to the consensus estimate of $353.77 million. Analysts expect that Lucky Strike Entertainment will post -0.15 earnings per share for the current year.

Lucky Strike Entertainment Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 22nd were given a $0.06 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.9%. Lucky Strike Entertainment’s payout ratio is currently -38.71%.

Insider Activity at Lucky Strike Entertainment

In related news, insider Lev Ekster sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $8.47, for a total value of $25,410.00. Following the completion of the sale, the insider directly owned 64,296 shares in the company, valued at approximately $544,587.12. The trade was a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 84.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State of Wyoming acquired a new position in Lucky Strike Entertainment in the fourth quarter valued at $74,000. Bank of America Corp DE acquired a new position in Lucky Strike Entertainment in the second quarter valued at $94,000. Jain Global LLC acquired a new position in Lucky Strike Entertainment in the third quarter valued at $121,000. R Squared Ltd acquired a new position in Lucky Strike Entertainment in the third quarter valued at $123,000. Finally, Invesco Ltd. acquired a new position in Lucky Strike Entertainment in the second quarter valued at $114,000. Institutional investors and hedge funds own 68.11% of the company’s stock.

Lucky Strike Entertainment Company Profile

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. Shannon in 1997 and is headquartered in Mechanicsville, VA.