Lucky Strike Entertainment (NYSE:LUCK) Sets New 12-Month Low – Here’s Why

Shares of Lucky Strike Entertainment (NYSE:LUCK) hit a new 52-week low during trading on Thursday. The stock traded as low as $4.59 and last traded at $4.6750, with a volume of 10,280 shares traded. The stock had previously closed at $4.69.

Analyst Ratings Changes

Several brokerages have recently issued reports on LUCK. Zacks Research lowered shares of Lucky Strike Entertainment from a “hold” rating to a “strong sell” rating in a research note on Monday, August 31st. Truist Financial set a $10.00 price objective on Lucky Strike Entertainment in a research note on Thursday, August 27th. Roth Capital set a $6.50 price objective on Lucky Strike Entertainment in a report on Friday, August 28th. Jefferies Financial Group set a $10.00 target price on Lucky Strike Entertainment in a research report on Thursday, August 27th. Finally, Citizens Jmp started coverage on shares of Lucky Strike Entertainment in a research report on Monday, June 29th. They issued a “market perform” rating on the stock. Four analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $8.39.

Lucky Strike Entertainment Stock Performance

The company has a market capitalization of $616.08 million, a P/E ratio of -13.29 and a beta of 0.66. The business has a 50 day moving average of $5.73 and a 200-day moving average of $7.08.

Lucky Strike Entertainment (NYSE:LUCK) last issued its earnings results on Thursday, August 27th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.15). The business had revenue of $303.95 million during the quarter, compared to analyst estimates of $311.30 million. As a group, equities analysts forecast that Lucky Strike Entertainment will post -0.02 EPS for the current fiscal year.

Lucky Strike Entertainment Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 22nd. Stockholders of record on Tuesday, September 8th were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date was Tuesday, September 8th. Lucky Strike Entertainment’s dividend payout ratio (DPR) is -70.59%.

Insider Activity at Lucky Strike Entertainment

In other news, CEO Thomas Shannon purchased 30,000 shares of the business’s stock in a transaction on Wednesday, September 9th. The stock was purchased at an average cost of $5.86 per share, with a total value of $175,800.00. Following the acquisition, the chief executive officer directly owned 3,144,000 shares in the company, valued at approximately $18,423,840. This trade represents a 0.96% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sandeep Mathrani acquired 9,350 shares of the company’s stock in a transaction that occurred on Friday, August 28th. The shares were acquired at an average cost of $6.41 per share, with a total value of $59,933.50. Following the purchase, the director directly owned 9,350 shares of the company’s stock, valued at $59,933.50. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have purchased 43,537 shares of company stock valued at $261,064. 84.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lucky Strike Entertainment

Hedge funds have recently bought and sold shares of the stock. Squarepoint Ops LLC grew 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 worth $166,000 after buying an additional 9,112 shares in the last quarter. Great Lakes Advisors LLC bought a new stake in shares of Lucky Strike Entertainment during the 2nd quarter worth $1,361,000. Finally, Rice Hall James & Associates LLC increased its stake in 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 acquiring an additional 166,104 shares during the last quarter. 68.11% of the stock is currently owned by institutional investors.

About Lucky Strike Entertainment

Lucky Strike Entertainment Corp. is an operator of location-based entertainment venues centered on bowling. The company provides recreational and social experiences through bowling lanes, arcade games, food and beverage offerings, and spaces for parties, corporate events and other group gatherings.

The company operates venues under brands that include Lucky Strike, Bowlero and AMF, serving customers across the United States and Canada. Its locations range from upscale entertainment venues to traditional bowling centers, with offerings designed for families, casual visitors, league bowlers and private-event guests.

Lucky Strike Entertainment was previously known as Bowlero Corp.