Lucky Strike Entertainment (NYSE:LUCK) Cut to “Underweight” at JPMorgan Chase & Co.

Lucky Strike Entertainment (NYSE:LUCK) was downgraded by JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports. They currently have a $6.00 price objective on the stock. JPMorgan Chase & Co.‘s price target points to a potential downside of 31.51% from the stock’s current price.

Several other brokerages also recently weighed in on LUCK. Canaccord Genuity Group set a $13.00 price target on shares of Lucky Strike Entertainment in a report on Thursday, February 5th. Roth Mkm reissued a “neutral” rating and issued a $7.50 target price on shares of Lucky Strike Entertainment in a report on Thursday, February 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Lucky Strike Entertainment in a report on Monday, December 29th. Finally, Wall Street Zen downgraded shares of Lucky Strike Entertainment from a “hold” rating to a “sell” rating in a report on Saturday, January 31st. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $11.08.

Lucky Strike Entertainment Price Performance

Shares of NYSE:LUCK opened at $8.76 on Thursday. Lucky Strike Entertainment has a 1-year low of $5.70 and a 1-year high of $11.61. The company has a market capitalization of $1.21 billion, a P/E ratio of -13.48 and a beta of 0.69. The firm’s 50 day simple moving average is $8.32 and its two-hundred day simple moving average is $8.43.

Lucky Strike Entertainment (NYSE:LUCK) last issued its quarterly earnings results on Wednesday, February 4th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.14). The business had revenue of $306.86 million for the quarter, compared to analyst estimates of $313.83 million. On average, sell-side analysts anticipate that Lucky Strike Entertainment will post 0.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director John Alan Young acquired 6,000 shares of the business’s stock in a transaction on Friday, February 6th. The shares were acquired at an average price of $6.50 per share, for a total transaction of $39,000.00. Following the completion of the transaction, the director directly owned 85,518 shares of the company’s stock, valued at approximately $555,867. The trade was a 7.55% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lev Ekster sold 3,000 shares of the business’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $8.47, for a total transaction of $25,410.00. Following the transaction, the insider owned 64,296 shares in the company, valued at $544,587.12. This trade represents a 4.46% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 84.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. State of Wyoming bought a new position in shares of Lucky Strike Entertainment in the fourth quarter worth about $74,000. Bank of America Corp DE bought a new position in shares of Lucky Strike Entertainment in the second quarter worth about $94,000. Jain Global LLC bought a new position in shares of Lucky Strike Entertainment in the third quarter worth about $121,000. R Squared Ltd bought a new position in shares of Lucky Strike Entertainment in the third quarter worth about $123,000. Finally, Invesco Ltd. bought a new position in shares of Lucky Strike Entertainment in the second quarter worth about $114,000. 68.11% of the stock is currently owned by institutional investors.

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.