Lucky Strike Entertainment (NYSE:LUCK) Sets New 1-Year Low – What’s Next?

Shares of Lucky Strike Entertainment (NYSE:LUCK) hit a new 52-week low on Tuesday . The company traded as low as $5.30 and last traded at $5.3830, with a volume of 6353 shares. The stock had previously closed at $5.56.

Wall Street Analysts Forecast Growth

A number of research firms have commented on LUCK. Truist Financial set a $10.00 target price on Lucky Strike Entertainment in a report on Thursday, August 27th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Lucky Strike Entertainment in a research note on Friday, July 31st. Zacks Research downgraded shares of Lucky Strike Entertainment from a “hold” rating to a “strong sell” rating in a report on Monday, August 31st. Citigroup initiated coverage on shares of Lucky Strike Entertainment in a research note on Monday, June 29th. They issued a “market perform” rating for the company. Finally, Wall Street Zen raised shares of Lucky Strike Entertainment from a “strong sell” rating to a “sell” rating in a report on Saturday, June 20th. Four investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, Lucky Strike Entertainment presently has a consensus rating of “Hold” and a consensus target price of $8.39.

Lucky Strike Entertainment Trading Down 2.6%

The stock has a market capitalization of $729.37 million, a PE ratio of -15.73 and a beta of 0.62. The firm has a 50 day moving average of $6.63 and a two-hundred day moving average of $7.61.

Lucky Strike Entertainment (NYSE:LUCK) last issued its quarterly earnings data on Thursday, August 27th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.15). The company had revenue of $303.95 million during the quarter, compared to analysts’ expectations of $311.30 million. Equities research analysts forecast that Lucky Strike Entertainment will post -0.02 EPS for the current year.

Lucky Strike Entertainment Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 22nd. Stockholders of record on Tuesday, September 8th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend is Tuesday, September 8th. Lucky Strike Entertainment’s payout ratio is -70.59%.

Insider Activity

In other Lucky Strike Entertainment news, Director Sandeep Mathrani bought 9,350 shares of the business’s stock in a transaction on Friday, August 28th. The stock was bought at an average price of $6.41 per share, for a total transaction of $59,933.50. Following the completion of the transaction, the director owned 9,350 shares in the company, valued at approximately $59,933.50. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Thomas F. Shannon bought 30,000 shares of the business’s stock in a transaction on Wednesday, September 9th. The shares were acquired at an average price of $5.86 per share, with a total value of $175,800.00. Following the transaction, the chief executive officer owned 3,144,000 shares of the company’s stock, valued at $18,423,840. The trade was a 0.96% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 43,150 shares of company stock worth $258,948 over the last quarter. Insiders own 84.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Squarepoint Ops LLC lifted its stake in Lucky Strike Entertainment by 69.8% in the 2nd quarter. Squarepoint Ops LLC now owns 22,158 shares of the company’s stock valued at $166,000 after buying an additional 9,112 shares in the last quarter. MYDA Advisors LLC purchased a new position in Lucky Strike Entertainment during the fourth quarter worth $424,000. Maven Securities LTD acquired a new position in shares of Lucky Strike Entertainment in the fourth quarter worth $1,036,000. Great Lakes Advisors LLC acquired a new position in shares of Lucky Strike Entertainment in the second quarter worth $1,361,000. Finally, Rice Hall James & Associates LLC lifted its position 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 valued at $2,669,000 after acquiring an additional 87,656 shares in the last quarter. 68.11% of the stock is owned by hedge funds and other institutional investors.

Lucky Strike Entertainment Company Profile

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.