Lucky Strike Entertainment (NYSE:LUCK) Reaches New 52-Week Low Following Weak Earnings

Lucky Strike Entertainment (NYSE:LUCK) shares reached a new 52-week low during mid-day trading on Friday following a dissappointing earnings announcement. The stock traded as low as $7.66 and last traded at $8.26, with a volume of 1171972 shares changing hands. The stock had previously closed at $9.57.

The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.16). The business had revenue of $339.88 million during the quarter, compared to the consensus estimate of $361.42 million. Lucky Strike Entertainment had a net margin of 1.11% and a negative return on equity of 35.76%.

Lucky Strike Entertainment Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be given a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a dividend yield of 2.51%. The ex-dividend date of this dividend is Friday, May 23rd. Lucky Strike Entertainment’s dividend payout ratio is presently -2,200.00%.

Analyst Upgrades and Downgrades

LUCK has been the subject of several research reports. JPMorgan Chase & Co. reduced their price target on shares of Lucky Strike Entertainment from $12.00 to $10.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Truist Financial decreased their price target on shares of Lucky Strike Entertainment from $14.00 to $11.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $16.00 price objective (down previously from $18.00) on shares of Lucky Strike Entertainment in a research note on Monday, May 5th.

Insider Activity at Lucky Strike Entertainment

In other Lucky Strike Entertainment news, Vice Chairman Brett I. Parker sold 1,747,434 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $11.54, for a total transaction of $20,165,388.36. Following the sale, the insider now owns 498,092 shares of the company’s stock, valued at $5,747,981.68. The trade was a 77.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John Alan Young purchased 3,685 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was bought at an average cost of $10.13 per share, with a total value of $37,329.05. Following the completion of the acquisition, the director now directly owns 69,423 shares of the company’s stock, valued at approximately $703,254.99. This trade represents a 5.61 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have bought 6,163 shares of company stock worth $62,213. Company insiders own 79.90% of the company’s stock.

Lucky Strike Entertainment Trading Up 5.5 %

The business has a fifty day moving average price of $9.29. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of -876.12 and a beta of 0.80.

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.