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

Lucky Strike Entertainment (NYSE:LUCK) shares hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $6.90 and last traded at $7.00, with a volume of 155599 shares changing hands. The stock had previously closed at $7.95.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on LUCK. Weiss Ratings restated a “sell (d-)” rating on shares of Lucky Strike Entertainment in a report on Monday, December 29th. Wall Street Zen cut Lucky Strike Entertainment from a “hold” rating to a “sell” rating in a research note on Saturday. Canaccord Genuity Group dropped their price objective on Lucky Strike Entertainment from $16.00 to $14.00 and set a “buy” rating for the company in a research note on Tuesday. Jefferies Financial Group reiterated a “buy” rating and issued a $18.00 price objective on shares of Lucky Strike Entertainment in a report on Monday, December 15th. Finally, Piper Sandler lowered their target price on Lucky Strike Entertainment from $10.00 to $9.00 and set a “neutral” rating for the company in a report on Monday, November 10th. Four investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $12.29.

Lucky Strike Entertainment Stock Down 9.2%

The stock has a market capitalization of $1.01 billion, a PE ratio of -19.00 and a beta of 0.71. The stock has a fifty day moving average of $8.68 and a 200-day moving average of $9.20.

Lucky Strike Entertainment (NYSE:LUCK) last announced its quarterly earnings data on Tuesday, November 4th. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.03. The company had revenue of $292.28 million for the quarter, compared to analyst estimates of $282.98 million. Equities research analysts expect that Lucky Strike Entertainment will post 0.43 EPS for the current year.

Insider Buying and Selling at Lucky Strike Entertainment

In other news, Director Richard Meynard Born acquired 30,000 shares of the firm’s stock in a transaction dated Friday, November 28th. The stock was acquired at an average cost of $8.09 per share, with a total value of $242,700.00. Following the transaction, the director owned 30,000 shares in the company, valued at approximately $242,700. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders have acquired 32,401 shares of company stock valued at $262,149. 84.20% of the stock is currently owned by company insiders.

Institutional Trading of Lucky Strike Entertainment

A number of institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC purchased a new position in shares of Lucky Strike Entertainment in the 2nd quarter valued at about $30,000. Spire Wealth Management acquired a new position in Lucky Strike Entertainment in the second quarter valued at approximately $42,000. PNC Financial Services Group Inc. purchased a new position in Lucky Strike Entertainment in the second quarter valued at approximately $50,000. GatePass Capital LLC acquired a new stake in Lucky Strike Entertainment during the second quarter worth approximately $91,000. Finally, Bank of America Corp DE acquired a new stake in Lucky Strike Entertainment during the second quarter worth approximately $94,000. 68.11% of the stock is owned by hedge funds and other institutional investors.

About Lucky Strike Entertainment

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.