Lucky Strike Entertainment (NYSE:LUCK) Stock Price Down 5.9% – Here’s Why

Lucky Strike Entertainment (NYSE:LUCK)’s stock price dropped 5.9% during mid-day trading on Monday . The stock traded as low as $8.26 and last traded at $8.2450. Approximately 26,343 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 149,012 shares. The stock had previously closed at $8.76.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on LUCK shares. Craig Hallum lowered Lucky Strike Entertainment from a “buy” rating to a “hold” rating and set a $6.50 target price for the company. in a research report on Thursday, May 7th. UBS Group downgraded Lucky Strike Entertainment to a “hold” rating and set a $6.50 price target on the stock. in a research report on Thursday, May 7th. Stifel Nicolaus set a $9.00 price target on Lucky Strike Entertainment in a research note on Thursday, May 7th. Jefferies Financial Group set a $12.00 price objective on Lucky Strike Entertainment in a report on Wednesday, May 6th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Lucky Strike Entertainment in a research note on Monday, May 4th. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Lucky Strike Entertainment presently has a consensus rating of “Hold” and a consensus target price of $8.69.

Lucky Strike Entertainment Stock Down 2.9%

The company has a market cap of $1.16 billion, a P/E ratio of -13.72 and a beta of 0.60. The business’s 50 day moving average is $8.27 and its 200 day moving average is $8.34.

Lucky Strike Entertainment (NYSE:LUCK) last announced its earnings results on Wednesday, May 6th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.07). The business had revenue of $342.23 million during the quarter, compared to analyst estimates of $353.77 million. As a group, equities research analysts forecast that Lucky Strike Entertainment will post -0.2 EPS for the current year.

Lucky Strike Entertainment Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $0.24 dividend on an annualized basis and a yield of 2.8%. Lucky Strike Entertainment’s dividend payout ratio (DPR) is presently -38.71%.

Insider Transactions at Lucky Strike Entertainment

In other Lucky Strike Entertainment news, insider Lev Ekster sold 3,000 shares of Lucky Strike Entertainment stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $8.47, for a total value of $25,410.00. Following the transaction, the insider owned 64,296 shares in the company, valued at $544,587.12. The trade was a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 84.20% of the stock is owned by company insiders.

Institutional Trading of Lucky Strike Entertainment

A number of institutional investors have recently modified their holdings of LUCK. Private Management Group Inc. grew its position in shares of Lucky Strike Entertainment by 2.6% in the 4th quarter. Private Management Group Inc. now owns 1,911,134 shares of the company’s stock worth $16,187,000 after buying an additional 48,093 shares during the last quarter. Rice Hall James & Associates LLC lifted its position 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 acquiring an additional 166,104 shares during the last quarter. Millennium Management LLC boosted its stake in Lucky Strike Entertainment by 291.5% in the third quarter. Millennium Management LLC now owns 412,218 shares of the company’s stock valued at $4,221,000 after acquiring an additional 306,931 shares in the last quarter. Geode Capital Management LLC acquired a new stake in Lucky Strike Entertainment in the second quarter valued at approximately $2,661,000. Finally, UBS Group AG grew its holdings in Lucky Strike Entertainment by 46.7% in the third quarter. UBS Group AG now owns 172,518 shares of the company’s stock worth $1,767,000 after purchasing an additional 54,919 shares during the last quarter. 68.11% of the stock is currently owned by 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.