Lucky Strike Entertainment (NYSE:LUCK) Sees Large Volume Increase – What’s Next?

Shares of Lucky Strike Entertainment (NYSE:LUCK) saw unusually-strong trading volume on Tuesday . Approximately 973,324 shares traded hands during mid-day trading, an increase of 199% from the previous session’s volume of 325,501 shares.The stock last traded at $8.23 and had previously closed at $8.24.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on LUCK shares. Stifel Nicolaus lifted their target price on shares of Lucky Strike Entertainment from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Friday, August 29th. Zacks Research raised shares of Lucky Strike Entertainment from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 10th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Lucky Strike Entertainment in a research report on Wednesday, October 8th. Roth Capital reaffirmed a “neutral” rating and issued a $11.00 target price on shares of Lucky Strike Entertainment in a research report on Friday, August 29th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $16.00 price objective on shares of Lucky Strike Entertainment in a research report on Friday, August 29th. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $12.20.

Lucky Strike Entertainment Stock Performance

The business’s 50-day moving average price is $9.68 and its 200-day moving average price is $9.57. The stock has a market cap of $1.13 billion, a P/E ratio of -61.76 and a beta of 0.72.

Lucky Strike Entertainment (NYSE:LUCK) last issued its quarterly earnings data on Wednesday, May 17th. The company reported $0.27 earnings per share (EPS) for the quarter. The firm had revenue of $257.82 million during the quarter. Lucky Strike Entertainment had a negative net margin of 0.83% and a negative return on equity of 23.31%. As a group, equities research analysts expect that Lucky Strike Entertainment will post 0.43 earnings per share for the current year.

Lucky Strike Entertainment Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 29th were given a $0.055 dividend. This represents a $0.22 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Friday, August 29th. Lucky Strike Entertainment’s payout ratio is presently -169.23%.

Insider Activity at Lucky Strike Entertainment

In other Lucky Strike Entertainment news, President Lev Ekster acquired 2,505 shares of the stock in a transaction dated Friday, September 5th. The shares were acquired at an average cost of $9.99 per share, for a total transaction of $25,024.95. Following the completion of the transaction, the president directly owned 71,800 shares of the company’s stock, valued at approximately $717,282. The trade was a 3.61% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders bought 5,179 shares of company stock valued at $51,627 in the last quarter. 84.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC bought a new position in shares of Lucky Strike Entertainment during the 2nd quarter valued at about $30,000. Spire Wealth Management bought a new position in shares of Lucky Strike Entertainment in the 2nd quarter valued at about $42,000. PNC Financial Services Group Inc. bought a new position in shares of Lucky Strike Entertainment in the 2nd quarter valued at about $50,000. GatePass Capital LLC purchased a new stake in Lucky Strike Entertainment in the 2nd quarter worth about $91,000. Finally, Bank of America Corp DE purchased a new stake in Lucky Strike Entertainment in the 2nd quarter worth about $94,000. Institutional investors own 68.11% of the company’s stock.

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.