Lucky Strike Entertainment (NYSE:LUCK) Hits New 12-Month Low – What’s Next?

Lucky Strike Entertainment (NYSE:LUCK) hit a new 52-week low on Tuesday . The company traded as low as $5.30 and last traded at $5.35, with a volume of 18072 shares changing hands. The stock had previously closed at $5.43.

Analysts Set New Price Targets

Several research firms recently issued reports on LUCK. Stifel Nicolaus dropped their price target on Lucky Strike Entertainment from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, August 28th. Citizens Jmp assumed coverage on shares of Lucky Strike Entertainment in a research note on Monday, June 29th. They set a “market perform” rating for the company. Roth Capital set a $6.50 target price on shares of Lucky Strike Entertainment in a report on Friday, August 28th. Wall Street Zen upgraded shares of Lucky Strike Entertainment from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 20th. Finally, Zacks Research downgraded shares of Lucky Strike Entertainment from a “hold” rating to a “strong sell” rating in a research report on Monday, August 31st. Four analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Lucky Strike Entertainment currently has a consensus rating of “Hold” and an average target price of $8.39.

Lucky Strike Entertainment Price Performance

The stock has a market capitalization of $720.77 million, a price-to-earnings ratio of -15.55 and a beta of 0.62. The company has a 50-day simple moving average of $6.44 and a two-hundred day simple moving average of $7.50.

Lucky Strike Entertainment (NYSE:LUCK) last released its quarterly earnings data 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 company had revenue of $303.95 million for the quarter, compared to analyst estimates of $311.30 million. Research analysts anticipate that Lucky Strike Entertainment will post -0.02 EPS for the current year.

Lucky Strike Entertainment Dividend Announcement

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

Insider Transactions at Lucky Strike Entertainment

In related news, Director Sandeep Mathrani bought 9,350 shares of the stock in a transaction on Friday, August 28th. The shares were purchased at an average price of $6.41 per share, with a total value of $59,933.50. Following the purchase, the director owned 9,350 shares in the company, valued at approximately $59,933.50. This represents a ? increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Thomas Shannon purchased 30,000 shares of the company’s stock in a transaction on Wednesday, September 9th. The shares were bought at an average price of $5.86 per share, for a total transaction of $175,800.00. Following the completion of the transaction, the chief executive officer directly owned 3,144,000 shares in the company, valued at $18,423,840. This represents a 0.96% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 43,537 shares of company stock valued at $261,064 in the last quarter. 84.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Lucky Strike Entertainment

A number of institutional investors have recently added to or reduced their stakes in the company. Private Management Group Inc. increased its position in shares of Lucky Strike Entertainment by 2.6% during 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 period. Rice Hall James & Associates LLC raised its position 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 worth $4,003,000 after acquiring an additional 166,104 shares in the last quarter. Great Lakes Advisors LLC acquired a new stake in Lucky Strike Entertainment in the 2nd quarter valued at about $1,361,000. Maven Securities LTD bought a new position in shares of Lucky Strike Entertainment during the 4th quarter valued at about $1,036,000. Finally, MYDA Advisors LLC acquired a new position in shares of Lucky Strike Entertainment in the 4th quarter worth approximately $424,000. 68.11% of the stock is currently 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.