Analysts Set Lucky Strike Entertainment (NYSE:LUCK) Price Target at $8.39

Lucky Strike Entertainment (NYSE:LUCK) has been given an average recommendation of “Hold” by the thirteen research firms that are covering the firm, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $8.3889.

A number of research analysts have recently commented on LUCK shares. Wall Street Zen upgraded Lucky Strike Entertainment from a “strong sell” rating to a “sell” rating in a report on Saturday, June 20th. Roth Capital set a $6.50 price target on shares of Lucky Strike Entertainment in a research report on Friday, August 28th. Truist Financial set a $10.00 price objective on shares of Lucky Strike Entertainment in a report on Thursday, August 27th. 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. Finally, Citigroup assumed coverage on shares of Lucky Strike Entertainment in a research note on Monday, June 29th. They set a “market perform” rating on the stock.

Lucky Strike Entertainment Stock Performance

LUCK opened at $5.29 on Friday. The firm has a market cap of $720.77 million, a P/E ratio of -15.55 and a beta of 0.62. The business has a 50 day moving average price of $6.44 and a 200 day moving average price of $7.50. Lucky Strike Entertainment has a twelve month low of $5.26 and a twelve month high of $10.82.

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 firm had revenue of $303.95 million for the quarter, compared to the consensus estimate of $311.30 million. As a group, analysts anticipate that Lucky Strike Entertainment will post -0.02 earnings per share for the current fiscal year.

Lucky Strike Entertainment Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 22nd. Investors of record on Tuesday, September 8th were paid a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, September 8th. This represents a $0.24 dividend on an annualized basis and a yield of 4.5%. Lucky Strike Entertainment’s payout ratio is presently -70.59%.

Insider Activity at Lucky Strike Entertainment

In other news, Director Sandeep Mathrani purchased 9,350 shares of the business’s stock in a transaction that occurred on Friday, August 28th. The stock was purchased at an average cost of $6.41 per share, with a total value of $59,933.50. Following the acquisition, the director directly owned 9,350 shares of the company’s stock, valued at approximately $59,933.50. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Thomas F. Shannon acquired 30,000 shares of the firm’s stock in a transaction on Wednesday, September 9th. The shares were purchased at an average cost of $5.86 per share, for a total transaction of $175,800.00. Following the completion of the purchase, the chief executive officer directly owned 3,144,000 shares of the company’s stock, valued at approximately $18,423,840. The trade was a 0.96% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders bought 43,537 shares of company stock worth $261,064. Corporate insiders own 84.20% of the company’s stock.

Institutional Investors Weigh In On Lucky Strike Entertainment

Hedge funds and other institutional investors have recently bought and sold shares of the business. Private Management Group Inc. raised its position in Lucky Strike Entertainment by 2.6% in the 4th quarter. Private Management Group Inc. now owns 1,911,134 shares of the company’s stock valued at $16,187,000 after purchasing an additional 48,093 shares during the last quarter. Rice Hall James & Associates LLC increased its stake in shares of Lucky Strike Entertainment by 52.7% in the first quarter. Rice Hall James & Associates LLC now owns 481,189 shares of the company’s stock valued at $4,003,000 after buying an additional 166,104 shares in the last quarter. Great Lakes Advisors LLC acquired a new stake in shares of Lucky Strike Entertainment in the second quarter valued at $1,361,000. Maven Securities LTD bought a new position in shares of Lucky Strike Entertainment in the fourth quarter valued at about $1,036,000. Finally, MYDA Advisors LLC acquired a new position in Lucky Strike Entertainment during the 4th quarter worth about $424,000. 68.11% of the stock is owned by institutional investors and hedge funds.

About Lucky Strike Entertainment

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.