Lucky Strike Entertainment (NYSE:LUCK) Stock Price Up 14% – Here’s Why

Lucky Strike Entertainment (NYSE:LUCK) shares traded up 14% during trading on Tuesday. The stock traded as high as $5.14 and last traded at $5.2990. Approximately 9,766 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 125,518 shares. The stock had previously closed at $4.65.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Citigroup initiated coverage on Lucky Strike Entertainment in a research report on Monday, June 29th. They set a “market perform” rating on the stock. Jefferies Financial Group set a $10.00 target price on Lucky Strike Entertainment in a research report on Thursday, August 27th. Truist Financial set a $10.00 target price on Lucky Strike Entertainment in a research report on Thursday, August 27th. Roth Capital set a $6.50 target price on Lucky Strike Entertainment in a research note on Friday, August 28th. Finally, Stifel Nicolaus lowered their target price on Lucky Strike Entertainment from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Friday, August 28th. Four research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $8.39.

Lucky Strike Entertainment Trading Up 8.8%

The stock has a market cap of $689.56 million, a P/E ratio of -14.78 and a beta of 0.66. The stock’s fifty day moving average price is $5.80 and its 200 day moving average price is $7.13.

Lucky Strike Entertainment (NYSE:LUCK) last released its earnings results on Thursday, August 27th. The company reported ($0.20) earnings per share 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 analysts’ expectations of $311.30 million. As a group, sell-side analysts forecast that Lucky Strike Entertainment will post -0.02 earnings per share for the current year.

Lucky Strike Entertainment Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 22nd. Investors of record on Tuesday, September 8th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend was Tuesday, September 8th. Lucky Strike Entertainment’s dividend payout ratio (DPR) is -70.59%.

Insider Activity

In other Lucky Strike Entertainment news, Director Sandeep Mathrani bought 9,350 shares of the firm’s stock in a transaction on Friday, August 28th. The stock was acquired at an average price of $6.41 per share, with a total value of $59,933.50. Following the completion of the purchase, the director owned 9,350 shares of the company’s stock, valued at approximately $59,933.50. This trade represents a ? increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Thomas F. Shannon bought 30,000 shares of the stock in a transaction dated 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 completion of the acquisition, 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. The SEC filing for this purchase provides additional information. Insiders have purchased 43,537 shares of company stock worth $261,064 in the last three months. 84.20% of the stock is currently owned by insiders.

Institutional Trading of Lucky Strike Entertainment

A number of hedge funds have recently made changes to their positions in the stock. Squarepoint Ops LLC increased its position in Lucky Strike Entertainment by 69.8% during 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. Great Lakes Advisors LLC purchased a new position in Lucky Strike Entertainment during the second quarter valued at $1,361,000. Finally, Rice Hall James & Associates LLC raised its stake in Lucky Strike Entertainment by 52.7% during 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 during the last quarter. 68.11% of the stock is owned by institutional investors.

Lucky Strike Entertainment Company Profile

Lucky Strike Entertainment Corporation (NYSE: LUCK) is an operator of bowling and location-based entertainment venues. Its centers offer traditional and boutique bowling, arcade games, billiards, laser tag, and other recreational activities, along with food and beverage services.

The company operates venues under brands that include Lucky Strike, Bowlero and AMF. Its facilities serve a range of customers, including families, casual entertainment seekers, league bowlers, and corporate or private-event groups.