Lucky Strike Entertainment (NYSE:LUCK) Trading Down 1.6% – Here’s What Happened

Shares of Lucky Strike Entertainment (NYSE:LUCK) dropped 1.6% during mid-day trading on Friday . The company traded as low as $7.80 and last traded at $7.8690. Approximately 72,130 shares traded hands during trading, a decline of 33% from the average daily volume of 108,164 shares. The stock had previously closed at $8.00.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Lucky Strike Entertainment in a research note on Monday, December 29th. Wall Street Zen lowered Lucky Strike Entertainment from a “hold” rating to a “sell” rating in a report on Saturday, January 31st. Canaccord Genuity Group set a $13.00 price objective on Lucky Strike Entertainment in a research note on Thursday, February 5th. Jefferies Financial Group restated a “buy” rating and set a $18.00 price objective on shares of Lucky Strike Entertainment in a report on Monday, December 15th. Finally, Roth Mkm reaffirmed a “neutral” rating and set a $7.50 target price on shares of Lucky Strike Entertainment in a research report on Thursday, February 5th. Four investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Lucky Strike Entertainment presently has a consensus rating of “Hold” and an average target price of $11.64.

Lucky Strike Entertainment Price Performance

The company has a market cap of $1.08 billion, a P/E ratio of -12.11 and a beta of 0.70. The stock has a fifty day moving average price of $8.13 and a two-hundred day moving average price of $8.61.

Lucky Strike Entertainment (NYSE:LUCK) last announced its quarterly earnings results on Wednesday, February 4th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.14). The company had revenue of $306.86 million during the quarter, compared to analyst estimates of $313.83 million. Equities analysts predict that Lucky Strike Entertainment will post 0.43 earnings per share for the current fiscal year.

Insider Activity

In other news, Director John Alan Young bought 6,000 shares of Lucky Strike Entertainment stock in a transaction dated Friday, February 6th. The stock was purchased at an average price of $6.50 per share, for a total transaction of $39,000.00. Following the purchase, the director directly owned 85,518 shares in the company, valued at $555,867. The trade was a 7.55% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 84.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LUCK. PNC Financial Services Group Inc. purchased a new stake in Lucky Strike Entertainment in the 2nd quarter valued at about $50,000. Geode Capital Management LLC purchased a new position in shares of Lucky Strike Entertainment in the 2nd quarter worth approximately $2,661,000. XTX Topco Ltd purchased a new position in shares of Lucky Strike Entertainment in the 2nd quarter worth approximately $123,000. Systematic Financial Management LP bought a new position in shares of Lucky Strike Entertainment in the second quarter valued at approximately $5,785,000. Finally, Invesco Ltd. bought a new position in shares of Lucky Strike Entertainment in the second quarter valued at approximately $114,000. 68.11% of the stock is currently owned by hedge funds and other 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.